NC H599

Establishes an income tax credit of $1,250 per semester for taxpayers with eligible dependent children enrolled in a home school that meets North Carolina requirements.

Defines two semesters per taxable year (spring: first six months, fall: second six months), with a child needing more than 70 days of enrollment in a home school to qualify for that semester.

Disqualifies children from the credit if they spent any time enrolled in public school, spent any time as a full-time postsecondary student taking at least 12 hours of academic credit, were 22 years or older during the entire semester, or graduated from high school before the semester ended.

Requires taxpayers claiming the credit to provide child's name, Social Security number, attendance records, local school administrative unit information, and a Notice of Intent to Operate a Home School filed with the Division of Nonpublic Education.

Allows unused credits to carry forward for three succeeding years, and requires the Department of Revenue to report to specified legislative committees by October 1, 2021, on credit usage and administration concerns.