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HB24-1221

Income Tax Credit for Eligible Teachers

Concerning a state income tax credit for a licensed teacher who is employed as a teacher in a public school on a full-time basis for at least one-half of an academic year.
Session:
2024 Regular Session
Subjects:
Education & School Finance (Pre & K-12)
Fiscal Policy & Taxes
Bill Summary

For income tax years commencing on or after January 1, 2024, but before January 1, 2026, the bill allows a refundable state income tax credit, which is intended to offset the various expenses that licensed teachers often incur throughout an academic year for classroom supplies, professional development costs, supplemental educational materials, field trips, and other items that improve the quality of the educational services that they provide, to a licensed teacher who is employed as a teacher in a public school on a full-time basis for at least one-half of an academic year (eligible teacher) during the income tax year for which the credit is claimed. The amount of the credit is $1,000 for an eligible teacher who is employed for the equivalent of an entire academic year and $500 for a teacher who is employed for one-half of an academic year. Two eligible teachers who file a joint income tax return may each claim the credit.
(Note: This summary applies to this bill as introduced.)

Status

Introduced
Lost

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. B. Marshall, Rep. M. Soper
Sen. K. Mullica

Sponsor

Co-sponsor

The 2024 Statewide Ballot Information Booklet is now online