Home instruction and private schools; creates an individual, nonrefundable income tax credit.

Home instruction and private school tax credit.Creates an individual, nonrefundable income tax credit for taxableyears beginning on or after January 1, 2021, but before January 1,2026, for amounts paid by the parent or legal guardian of a childfor the child's home instruction expenses or tuition for attendingan accredited private school in Virginia. The credit shall equalthe lesser of the amount actually paid in the taxable year for suchcosts or half of the average state standards of quality funding perstudent per year. The credit may be taken for instruction-relatedmaterials, courses, or programs used in home instruction or for privateschool tuition. The credit is available only to the parents and legalguardians of children who did not attend private school or were nothome schooled in the previous year in Virginia. The credit is availablefor two years per child and can be carried forward for five taxableyears.