Enacts new GS 105-151.33A creating an income tax credit of $1,250 for parents of dependent children who are enrolled in home schools meeting the requirements of GS 115C-564.  Child must be enrolled in the home school for more than 70 days in the first six months or the second six months of the taxable year.  Child is disqualified if the child spent any time during the appropriate six months enrolled in a public school or enrolled in postsecondary education taking at least 12 hours of academic credit, was 22 or older for the entire six month period, or graduated from high school during the six month period.  Specifies information parent must provide to qualify for the credit.  Requires the Department of Revenue to report by October 1, 2015, to the Revenue Laws Study Committee and the Joint Legislative Education Oversight Committee on the administration of the new credit.  Credit is effective for taxable years beginning on or after January 1, 2013, and applies to home schooling beginning on or after July 1, 2013.