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S.F. No. 304 - Extending Education Expense Subtraction and Credit to Prekindergarten Expenses (as proposed by the A-1 amendment)
 
Author: Senator Carla J. Nelson
 
Prepared By: Senate Counsel, Research and Fiscal Analysis (651/296-4791)
 
Date: March 10, 2015



 

This bill extends the subtraction and credit allowed under current law for K-12 education-related expenses to include prekindergarten expenses.  Effective beginning in tax year 2015.     

Section

Provision

1

Adds amounts paid to others for prekindergarten education, including enrollment expenses for a prekindergarten educational program for a qualifying child, to the eligible expenses that may be used to claim the income tax subtraction for qualifying educational expenses.  Amounts used to claim the dependent care credit and any amounts compensated by insurance or other pretax account may not be used to claim the subtraction.
 

 

Defines “prekindergarten educational program” to mean:

  • A prekindergarten program established by a school district;
  • Certain licensed and accredited preschools, nursery schools, and early childhood development programs;
  • Qualifying Montessori programs; or
  • Child care programs provided by DHS-accredited early childhood development family day care providers.
     

2

Adds enrollment fees for a prekindergarten educational program, as defined above, to the amounts that may be used to claim the credit for education-related expenses.  Amounts used to claim the dependent care credit and any amounts compensated by insurance or other pretax account may not be used to claim the subtraction.

 
 
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