1st Session, 63rd General Assembly
66 Elizabeth II, 2017
First Reading: October 6, 2017
This Bill allows parents and teachers to claim a 50% tax credit for school supplies up to $200.
Be it enacted by the Governor and Assembly as follows:
1 This Act may be cited as the School Supplies Tax Credit Act.
2 Chapter 217 of the Revised Statutes, 1989, the Income Tax Act, is amended by adding immediately after Section 11 the following Section:
(2) Subject to subsection (7), for the purpose of computing the tax payable under this Part for a taxation year by an individual, there may be deducted with respect to each child of the individual who has not attained the age of nineteen years before the end of the year an amount determined by the formula
(a) the total of all amounts so deductible for the year shall not exceed the maximum amount that would be so deductible for the year by any one of those individuals for that child if that individual were the only individual entitled to deduct an amount for the year because of that subsection for the child; and
(4) Subject to subsection (7), for the purpose of computing the tax payable under this Part for a taxation year by an individual who is a teacher, there may be deducted with respect to school supplies purchased for a public school before the end of the year an amount determined by the formula
(7) The money required for the purpose of this Section must be paid out of money appropriated for that purpose by the Legislature and, for greater certainty, no deduction may be made pursuant to this Section until the money is appropriated by the Legislature.