H.B. 323 Summary

• Authorizes a nonrefundable personal income tax credit for qualifying taxpayers (educators or parents with dependent students) for education expenses up to $1,500 per student per year.

• Eligible education expenses include books, supplementary materials, supplies, tutoring, educational field trips, and music/art/kinesthetic learning lessons, but exclude tuition and room and board costs.

• Defines "qualifying students" as those receiving instruction from public, chartered nonpublic, or nonchartered nonpublic schools, or excused from compulsory attendance for home instruction.

• Amends section 5747.98 to establish the credit claim order, placing the education tax credit after the earned income credit but before other nonrefundable credits.

• Applies to taxable years beginning on or after January 1, 2021.