1. (1) Scope. This rule is issued pursuant to Section 16-6D-1, Code of Ala. 1975, to provide guidance to parents who are eligible to claim a refundable income tax credit under the Alabama Accountability Act of 2013.

2. (2) For purposes of calculating the 80% of the average annual cost of attendance for a public K-12 student limitation as referenced in Rule 810-3-60-.01, the Department of Finance will provide the amounts of the average state cost of attendance for a public K-12 student for each fiscal year pertaining to the current school year.

   1. (a) For example, the Department of Finance will provide the average state annual cost of attendance for a public K-12 student for fiscal year ending September 30, 2013 and fiscal year ending September 30, 2014 for purposes of determining the average cost of attendance for the 2013-2014 school year.
   2. (b) To determine the average cost of attendance for the 2013-2014 school year, the Department shall calculate this number by multiplying 80% of the FY 2013 cost of attendance by 9/12 and 80% of the FY 2014 cost of attendance by 3/12.

   3. (c) For the 2013-2014 school year, the 80% of the average annual cost of attendance for a public K-12 student is calculated as follows:

      ($3,538 x 9/12) + ($3,639 x 3/12) = $3,563

3. (3) This number will be updated annually based upon the average state cost of attendance for a public K-12 student, as determined by the Department of Finance, by using the methodology stated within this rule.

Author: Brandee Tickle

Statutory Authority: Code of Ala. 1975, §§40-2A-7(a)(5), 16-6D-1.

History: New Rule: Filed November 20, 2013, effective December 25, 2013.