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The bill creates a new income tax credit for the income tax year commencing January 1, 2011, and each income tax year thereafter, of $1,000 for a taxpayer that enrolls a qualified child in private school.
The bill defines a qualified child as a dependent child enrolled on a full-time basis in a public school in the state or any dependent child who would be entering a public school kindergarten program in the state. The bill further states that a qualified child is not a dependent child enrolled in any private school in the state for the school year prior to the effective date of the bill or a dependent child homeschooled in the state as of the effective date of the bill. Once a dependent child becomes a qualified child, the dependent child will remain a qualified child so long as he or she remains dependent and enrolled in a private school in the state.
The bill specifies that the credit is refundable and requires the private school to issue credit certificates, which are then required to be filed with the taxpayer's income tax return. The bill also requires a grant to be made to any public school district that loses a student for whom an income tax credit is claimed. That school district would receive a $1,000 grant for each student the district loses for which a credit is claimed. The grant must then be distributed by the school district to the particular school the qualified child would have attended if he or she had not been enrolled in a private school. The grant is received by the school district for every year that the qualified child is enrolled in private school.
2/5/2010 (House) Introduced and assigned to Finance
2/23/2010 House Committee on Finance Postpone Indefinitely
Died in Committee
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