S.0306

South Carolina S0306 provides a tax credit for taxpayers whose children attend qualifying private, parochial, or home schools.

South Carolina S0306 establishes a tax credit for taxpayers whose children attend qualifying private, parochial, or home schools for grades K-12. The credit amount varies by tax year, starting at $2,000 for 2025, increasing to $8,500 for 2027 and beyond. The credit is refundable starting in 2027. The bill also mandates the Department of Revenue to reduce State Aid to Classrooms for each student leaving public school for a qualifying private, parochial, or home school. The Treasurer must publish a list of qualifying schools annually.