Text: S05110 Text: S05112 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 2157 as follows:
1 2 #1. Page 2, by inserting after line 24 the
1 3 following:
1 4 "Sec. . Section 422.9, subsection 2, Code
1 5 Supplement 1995, is amended by adding the following
1 6 new paragraph:
1 7 NEW PARAGRAPH. g. Add the amount, not to exceed
1 8 twenty-five percent of the actual tuition the taxpayer
1 9 has paid for a course of study leading to an associate
1 10 or baccalaureate degree for each dependent attending
1 11 an accredited postsecondary institution situated in
1 12 Iowa. As used in this paragraph, "accredited
1 13 postsecondary institution" means an institution of
1 14 higher learning under the control of the state board
1 15 of regents, a community college established under
1 16 chapter 260C, or an accredited private institution as
1 17 defined in section 261.9.
1 18 Sec. . Section 422.12, Code Supplement 1995, is
1 19 amended by adding the following new subsection:
1 20 NEW SUBSECTION. 4. For those who do not itemize
1 21 their deductions, a tuition credit equal to one and
1 22 one-quarter percent of the actual tuition the taxpayer
1 23 has paid for a course of study leading to an associate
1 24 or baccalaureate degree for each dependent attending
1 25 an accredited postsecondary institution situated in
1 26 Iowa. As used in this subsection, "accredited
1 27 postsecondary institution" means an institution of
1 28 higher learning under the control of the state board
1 29 of regents, a community college established under
1 30 chapter 260C, or an accredited private institution as
1 31 defined in section 261.9. Notwithstanding any other
1 32 provision, all other credits allowed under sections
1 33 422.12 and 422.12B shall be deducted before the
1 34 tuition credit under this subsection."
1 35 #2. Title page, line 1, by inserting after the
1 36 word "Act" the following" "providing an income tax
1 37 credit or deduction for tuition paid to accredited
1 38 postsecondary institutions located in Iowa under
1 39 certain circumstances,".
1 40
1 41
1 42
1 43 JOANN DOUGLAS
1 44 SF 2157.501 76
1 45 kh/jw
Text: S05110 Text: S05112 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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