An act relating to an income tax deduction for home study programs

This bill creates a new income tax deduction in Vermont for parents who pay for home study programs for their dependents. It allows taxpayers to deduct up to $1,000 of qualified expenses per dependent, covering costs for educational instruction, materials, equipment, software, and computer hardware used during normal school hours. The deduction applies to expenses incurred for students who are claimed as dependents on the taxpayer's return and are not dependents of another taxpayer. The bill would take effect retroactively starting January 1, 2023, and applies to taxable years beginning on or after that date.