Budget Amendment ID: FY2021-S4-31-R1

Redraft GOV 31

Tax Credit for School Supplies

Messrs. Tran and O'Connor moved that the proposed new text be amended by inserting after section _ the following section:-

"SECTION. Notwithstanding any general or special law to the contrary there is hereby established for the taxable years 2020 and 2021 a 2019 Novel Coronavirus school supplies tax credit, the purpose of which shall be to provide relief for extraordinary costs incurred by filers in response to the 2019 Novel Coronavirus pandemic for the purchase of school supplies. The amount of such credit shall be $1,000 and the aggregate amount of such credit shall not exceed $10,000,000 in any year. Said credit shall be available to reduce the amount of income tax owed and shall be implemented pursuant to regulations promulgated by the department of revenue. Said regulations shall prescribe specific expenses eligible for the credit, including but not limited to the costs associated for remote learning, and any such cost claimed shall be itemized in a form prescribed by the department. Such credit shall be available only in the tax year in which the claimed expenses are incurred, and no part of any credit may be carried forward to a subsequent tax year."