Bill > A10980

This bill establishes a school supplies education credit for resident taxpayers who are parents, guardians, or other individuals responsible for a person under nineteen years old enrolled in elementary or secondary education, whether in public, nonpublic, charter schools, or through home instruction. The credit is equal to the cost of learning materials and school supplies purchased for educational purposes, with a limit of $500 per student and a total family maximum of $1,500. "Learning materials" are broadly defined to include items like textbooks, workbooks, and educational software, while "school supplies" encompass items such as writing utensils, notebooks, calculators, and even musical instrument rentals or purchases. If the credit exceeds the taxpayer's tax liability for the year, the excess will be refunded without interest. Married couples filing separately can divide the credit between them. This provision will take effect immediately and apply to taxable years beginning on or after January 1, 2027.