Enacts new GS 105-151.34, Teacher credit for school supplies, as the title indicates. Provides that a taxpayer who is a classroom teacher is eligible for a credit against the tax imposed by Part 2 of Article 4 of GS Chapter 105, Subchapter I equal to the cost of purchased school supplies or instructional materials or $250, whichever is less. Includes additional provisions setting limitations on the tax credit and providing definitions for terms as used in this section. Provides that any unused portion of this credit may be carried forward for the succeeding five years.

Effective for taxable years beginning on or after January 1, 2014.