Bill Text: WV SB89 | 2018 | Regular Session | Introduced
Bill Title: Creating educational expense tax credits
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2018-01-10 - To Education [SB89 Detail]
Download: West_Virginia-2018-SB89-Introduced.html
WEST virginia legislature
2018 regular session
Introduced
Senate Bill 89
By Senators Karnes and Takubo
[ Introduced January
10, 2018; Referred
to the Committee on Education; and then to the Committee on Finance]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-25, relating to creating income tax credits against personal income tax for educational expenses incurred by parents for a child under 21 years of age and for expenses incurred by teachers for the purchase of supplementary educational materials or professional development costs.
Be it enacted by the Legislature of West Virginia:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-25. Education expenses tax credits.
(a) Credit allowed. - For those tax years beginning on or after January 1, 2018, there is allowed a nonrefundable credit for any taxpayer against the taxes imposed by this article for expenses incurred relative to the education of a child under the age of twenty-one who is resident in the state or for expenses incurred for the purchase of supplementary education materials or professional development costs incurred by a classroom teacher employed by a public or private school.
(b) Amount of credit. - A taxpayer may claim a tax credit in an amount equal to the expenses incurred per eligible dependent child not to exceed $500 per child. A classroom teacher employed by a public or private school may claim a tax credit in an amount equal to the expenses incurred not to exceed $1,000.
(c) Qualifying educational expenses. - Qualifying expenses include tuition and fees charged by a public or private school or fees or costs associated with the education of a child through graduation from a high school program including tutoring or instructional fees for curricular, cocurricular and extra-curricular activities including private drivers education instruction; costs relating to computer equipment including education related software and services, textbooks, workbooks, curricula and other written or supplementary materials used for curricular, cocurricular or extra-curricular instruction; expenses for curricular, cocurricular activities or extra-curricular activities including equipment and participation related expenses for camps or similar enrichment programs.
(d) Unused credit. - If any credit remains after application of subsection (c) of this section, that amount is forfeited. A carryback to a prior taxable year is not allowed for the amount of any unused portion of any annual credit allowance.
NOTE: The purpose of this bill is to create income tax credits against personal income tax for educational expenses incurred by parents for a child under twenty-one years of age and for expenses incurred by teachers for the purchase of supplementary educational materials or professional development costs.
Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added.
