Senate File 2260 - Introduced SENATE FILE 2260 BY WHITING A BILL FOR An Act relating to the school tuition organization tax credit 1 available against the individual and corporate income tax 2 and including retroactive applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 6106XS (2) 88 jm/jh

S.F. 2260 Section 1. Section 422.11S, subsection 6, paragraph b, Code 1 2020, is amended to read as follows: 2 b. “Qualified school” means a nonpublic elementary or 3 secondary school in this state which is accredited under 4 section 256.11 and adheres to the provisions of the federal 5 Civil Rights Act of 1964 and chapter 216 . 6 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies 7 retroactively to January 1, 2020, for tax years beginning on 8 or after that date. 9 EXPLANATION 10 The inclusion of this explanation does not constitute agreement with 11 the explanation’s substance by the members of the general assembly. 12 This bill strikes the requirement that a “qualified school” 13 be accredited as defined in Code section 256.11 in order to 14 be eligible for the school tuition organization tax credit 15 program in Code section 422.11S. Individual or corporate 16 income tax, as applicable, are reduced by the school tuition 17 organization tax credit equal to 65 percent of the amount of 18 the contribution made by the taxpayer to a school tuition 19 organization, subject to the limitations in Code section 20 422.11S(8). 21 The bill applies retroactively to tax years beginning on or 22 after January 1, 2020. 23 -1- LSB 6106XS (2) 88 jm/jh 1/ 1