Va. Bill Seeks Tax Credit For Virus-Related Education Costs

Virginia would allow an income tax credit for expenses incurred between Aug. 1, 2020, and July 31, 2021, because of the closure of public schools amid the novel coronavirus pandemic, under a bill introduced in the state House of Delegates.

H.B. 5129, introduced Tuesday by Del. John McGuire III, R-Glen Allen, would allow a tax credit of 50% of education-related expenses to be claimed by individual taxpayers or married taxpayers filing jointly, with a maximum credit amount of $4,500. If the credit exceeds the taxpayers' tax liability, then the remaining credit amount is refundable, according to the bill.

Parents filing separately can claim the credit on only one set of returns, the bill says.

--Editing by Robert Rudinger.

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