Golden Legislation Seeks Education Tax Credit

Martin J. Golden

January 10, 2005

Albany- State Senator Martin J. Golden (R-C, 22nd District) today has announced his introduction of legislation in the State Senate that will amend the tax law and establish an income tax credit for parents of public, parochial and private schools related to educational expenses.

The bill provides qualified taxpayers, parents and dependents of those grade K-12 attending elementary and secondary schools, or those receiving home instruction, an annual tax credit of up to $1500 per dependent or $3,000 per family. A parent with eligible expenses would request a credit when they file their State income tax form.

Senator Marty Golden stated, "An education tax credit would significantly help all parents of school-aged children to pay for school tuition and other educational expenses including textbooks, tutoring, personal computers and educational software. It is an important investment for our children and for all New York families."

Senator Golden continued, "Parents are often frustrated by their inability to have direct control over the way school resources are allocated and spent. While additional educational funding is crucial to our community’s needs, I believe that parents deserve greater control with an education tax credit to decide what is in the best interest of their child’s learning."

Further, the legislation will provide a maximum tax credit of $250 annually for a teacher who uses their personal funds to purchase certain teaching supplies to benefit students in qualified schools.

Senator Golden stated, "It is the dedication and the contributions of our teachers that make our schools as good as they are. Many teachers quietly buy supplies year after year, without reimbursement, to supplement and update existing supplies and to add depth to the classroom experience. This tax credit recognizes the financial contributions that teachers make to improve the lives and the education of students throughout our City on a daily basis."