Legislation, A-4971 (McKnight), was introduced late last week that would provide some parents who homeschool their children with tax credits of up to $1,000 per child per year, for up to three children.
To be eligible, a family would have to earn less than $150,000 a year. The credit could be used for education-related expenses, including reimbursement for textbooks, computer software, curriculum rental fees, and fees for libraries and other academic institutions. Expenses for “consumable” products, such as computers, pencils and desks, or for internet service fees, would not be eligible for the tax credit, according to the proposal.
There are three states that allow the tax credit currently, according to the sponsor – Illinois, Minnesota, Louisiana, Indiana. The bill does not have any co-sponsors and has yet to be introduced in the Senate.
NJPSA is reviewing the legislation and is prepared to advocate on the bill if it were to come up for legislative action.