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New York

July 11, 2006

Assembly Bill 8203: Tax Credit for Home Education Expenses

Author:
Assemblyman Lopez

Summary:
There were two bills in the New York Legislature which would have enabled a parent to take a tax credit of up to $3,500 per child for expenses they incurred for the education of their children.

Homeschool parents in New York would have been able claim a tax credit for the cost of any textbooks, instructional materials, software, or equipment for core subject areas. Additionally, parents would have been able to include expenses for special education evaluation services and programs.

The state and federal courts around the country have unanimously ruled that tax credits are not governmental subsidies. This tax credit makes is possible for you to keep more of your money and have a lower tax bill.

Unfortunately, this bill did not make it of committee, and is now dead.

Status:

06/23/2006Legislature is Closed.
01/17/2006Print Number 8293A.
01/17/2006(House) Amend (T) and Recommit to Assembly Ways and Means
01/13/2006(Senate) Print Number 1939a
01/13/2006(Senate) Amend (T) And Recommit To Senate Investigations & Government Operations
01/04/2006(Senate) Referred To Senate Investigations & Government Operations
01/04/2006(Senate) Failed To Advance
06/24/2005(Senate) Recommitted To Committee On Senate Rules
06/21/2005(Senate) Reported From Committee On Senate Rules
06/21/2005(Senate) Placed On The Senate Floor Calendar
02/07/2005(Senate)Introduced And Referred To Committee On Senate Investigations & Government Operations

HSLDA's Position:
Support.

Action Requested:
None at this time.

Background:
Several states have enacted education tax credit laws geared toward helping low income families, combating poor quality of public education, and helping students with learning disabilities.

Senate Bill 1939 and Assembly Bill 8203 would enable families to receive a credit for educational expenses for textbooks, curriculum materials, software, even special education services from their New York state income taxes. Under these bills a family making less than $40,000 would be able to deduct up to $3,500 per child. A family making less than $60,000 could deduct up to $3,200 per child, up to $2,900 per child for families making less than $80,000 and up to $2,600 per child for families making less than $100,000.

Families making more than $100,000 a year would be gradually phased into the tax credit schedule. Starting in 2007 the maximum family income limit would have to be less than $110,000 and they could deduct up to $2,300 per child. Until 2011 the maximum amount a family could earn and still take advantage of the tax credit would go up by $10,000 a year while the credit would be reduced by $300 per child for each succeeding new limit.

For more information about tax credits in general please see our memo "Education Tax Credits."

 Other Resources

Feb.-10-2006—New York—Education Tax Credit Rally

Bill Text

Bill History