Three New York Congressmen are co-sponsoring a House bill that would put $5,000 tax credits back into the pockets of parents with children in private schools. Such private schools will include religious schools (e.g., Catholic schools, Jewish schools, Yeshivas, Islamic schools, etc.), secular private schools, special needs private schools, and independent schools. You can read the bill for yourself here.
The New York Congressmen sponsoring the bill are Bob Turner (R-9th District New York), who authored it, Michael Grimm (R-13th District New York), and Peter King (R-3rd District New York), along with Mississippi’s Steve Palazzo (R-4th District). The name of the bill is aptly titled Tax and Education Assistance for Children (TEACH). Congressman Turner visited Queens on March 2, 2012 to announce his sponsorship of the bill.
If the bill passes, married couples filing jointly and single persons will receive $5,000 in tax credit. Married persons filing individually will receive a $2,500 tax credit. The tax credit would be offered to parents with children in “qualified elementary and secondary education” institutions. If passed, the bill would go into effect for taxable years beginning after December 31, 2012, which means that no one would actually receive the credit until they file their 2013 taxes.
This would certainly be a welcome relief to many parents with children in New York City private, religious, and independent schools. It would help parents with tuition, books, uniforms, and other expenses related to their child’s education.
As written, the bill doesn’t specify that the tax credit would apply for multiple children. It looks as if the maximum credit a family could receive is $5,000 regardless of how many children attend private schools.
New York private school families can hope the bill passes or can be more active by contacting their representatives to encourage them to support the bill.