A bill that would help offset the costs teachers pay to equip their students was discussed in its first committee Tuesday.
SB 28, which will provide a tax deduction for teachers who buy school supplies for their classrooms was held pending further discussion in the Senate Tax, Business and Transportation Committee Tuesday afternoon.
Senate Minority Whip Craig Brandt, R-Rio Rancho, sponsored the bill.
The bill provides teachers up to $500 in tax deductions for school supply purchases in Fiscal Year 2024 and it doubles to $1,000 for Fiscal Year 2025 and onward.
The standard school supplies— such as paper, pencils and protractors— are covered but the higher cost items such as electronics are not covered for the deduction.
Funding for the tax deduction would come from the general fund and would cost $320,000 in FY 24 and $640,000 for FY25 onward.
NM Political Report spoke to teachers from Albuquerque Public Schools and Alamogordo Public Schools for their thoughts on the bill and both supported the bill.
The next Senate Tax, Business and Transportation meeting is scheduled for 1:30 p.m. on Thursday in room 321.
