Senate File 118 - Introduced SENATE FILE 118 BY BOLKCOM A BILL FOR An Act increasing the amount of tax credits available under the 1 endow Iowa program. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 1991XS (2) 84 tw/sc

S.F. 118 Section 1. Section 15E.305, subsection 2, unnumbered 1 paragraph 1, Code 2011, is amended to read as follows: 2 The aggregate amount of tax credits authorized pursuant to 3 this section shall not exceed a total of two three million 4 seven five hundred thousand dollars plus such additional credit 5 amount as provided by this section annually. The maximum 6 amount of tax credits granted to a taxpayer shall not exceed 7 five percent of the aggregate amount of tax credits authorized. 8 EXPLANATION 9 This bill increases from $2.7 million to $3.5 million the 10 maximum aggregate amount of tax credits available under the 11 endow Iowa program. 12 -1- LSB 1991XS (2) 84 tw/sc 1/ 1