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Introduced Version House Bill 4242 History

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Key: Green = existing Code. Red = new code to be enacted

FISCAL NOTEWEST virginia Legislature

2016 regular session

Introduced

House Bill 4242

By Delegates Kurcaba, Butler, Wagner, Atkinson, Statler, Ellington, Azinger, Overington, Waxman, Householder and Cooper

[Introduced January 22, 2016; Referred
to the Committee on Education then 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 twenty-one 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:

That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-21-25, to read as follows:

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, 2016, there shall be 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 $100 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 $250.

(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.

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