HB624: Teacher, counselor, principal, etc.; expenses tax credit.

HOUSE BILL NO. 624

Offered January 10, 2018
Prefiled January 8, 2018
A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.13, relating to tax credit for teacher expenses.
Patrons-- Ayala, Cole, Lopez, Rodman and Simon

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.13 as follows:

§ 58.1-339.13. Teacher expenses tax credit.

A. For the purposes of this section:

"Materials used in teaching" means books, supplies, computer equipment, including related software and services, and other equipment and supplementary materials used in the classroom.

"Qualifying individual" means an individual who is a teacher, instructor, counselor, principal, or aide for at least 900 hours during a school year in a school that provides kindergarten, elementary, or secondary education.

B. For taxable years beginning on and after January 1, 2019, but before January 1, 2024, any qualifying individual shall be entitled to an annual credit against the tax levied pursuant to § 58.1-320 equal to the amount, not to exceed the lesser of $250 or the tax imposed by this chapter, paid by the taxpayer for materials used in teaching in the Commonwealth in the taxable year in which the expenses are incurred, provided that the qualifying individual has not been reimbursed for such expenses and has not claimed a deduction for such expenses on his federal income tax return.