Income tax, state; home instruction and private school tax credit.

Home instruction and private school tax credit.Creates an individual, nonrefundable income tax credit for taxableyears 2022 through 2026, for amounts paid by the parent or legalguardian of a child for the child's home instruction expenses or tuitionfor attending an accredited private school in Virginia. The creditshall equal the lesser of the amount actually paid in the taxableyear for such costs or half of the average state standards of quality funding per student 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 for two years per child andcan be carried forward for five taxable years.