Bill Text: VA SB151 | 2016 | Regular Session | Prefiled
Bill Title: Teachers; expenses tax credit for materials used in teaching.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2016-02-09 - Passed by indefinitely in Finance (15-Y 0-N) [SB151 Detail]
Download: Virginia-2016-SB151-Prefiled.html
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16101647D 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. For the purposes of this section: "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 elementary or secondary education. "Materials used in teaching" means books; supplies; computer equipment, including related software and services; and other equipment and supplementary materials, used in the classroom. For taxable years beginning on or after January 1, 2017, 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 $500 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 individual has not been reimbursed for such expenses or claimed a deduction for such expenses on his federal income tax return. |
