45th legislature - STATE OF NEW MEXICO - first session, 2001

RELATING TO TAXATION; AMENDING THE INCOME TAX ACT TO PROVIDE A DEDUCTION FROM INCOME FOR EACH DEPENDENT SCHOOL-AGE CHILD HOME SCHOOLED.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. A new section of the Income Tax Act is enacted to read:

"[NEW MATERIAL] DEDUCTION--HOME SCHOOLING.--

A. A taxpayer who files an individual New Mexico income tax return and is not a dependent of another taxpayer may claim a deduction from net income in an amount equal to one thousand dollars ($1,000) for each school-age child who may be claimed by the taxpayer as a dependent in the taxable year for which the deduction is claimed if the taxpayer provided home schooling to the school-age child for more than six months in the taxable year. A husband and wife who file separate returns for the taxable year in which they could have filed a joint return may each claim only one-half of the deduction that would have been allowed on the joint return.

B. For the purposes of this section:

(1) "home schooling" means instruction for a school-age child by a parent in lieu of public or private school that provides a basic academic educational program including reading, language arts, mathematics, social studies and science; and

(2) "school-age child" means a child who is at least five years of age prior to 12:01 a.m. on September 1 of the school year and not older than eighteen years of age who has not received a high school diploma or its equivalent; provided, however, that the maximum age of twenty-one shall be used for persons who would be classified as special education membership in public school."

Section 2. APPLICABILITY.--The provisions of this act apply to taxable years beginning on or after January 1, 2001.