Text: HF02182 Text: HF02184 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, Code Supplement 1997, is amended
1 2 by adding the following new subsection:
1 3 NEW SUBSECTION. 26. a. Subtract twenty-five percent of
1 4 the total tuition paid which resulted in obtaining a
1 5 certificate, a diploma, or a degree from a community college
1 6 or a degree from an accredited college or university or
1 7 similar educational institution, if the taxpayer was employed
1 8 in a targeted job at any time during the tax year for which
1 9 the certificate, diploma, or degree was necessary.
1 10 b. For purposes of this subsection:
1 11 (1) "Targeted job" means a job classification designated
1 12 by the department of economic development as a key job for the
1 13 state which designation is in effect for the tax year.
1 14 (2) "Tuition" means the charges and fees paid for
1 15 attendance at a community college, college, or university, or
1 16 similar educational institution.
1 17 c. The department of economic development shall designate
1 18 for each tax year the targeted jobs to which the benefits of
1 19 this subsection apply.
1 20 Sec. 2. This Act, being deemed of immediate importance,
1 21 takes effect upon enactment and applies retroactively to
1 22 January 1, 1998, for tax years beginning on or after that
1 23 date.
1 24 EXPLANATION
1 25 The bill provides for an individual income tax deduction
1 26 for a taxpayer employed in a targeted job equal to 25 percent
1 27 of the tuition paid for a certificate, diploma, or degree from
1 28 a community college, or degree from a college or university,
1 29 or similar educational institution if the certificate,
1 30 diploma, or degree is necessary for employment in the targeted
1 31 job. The department of economic development designates for
1 32 each tax year targeted jobs for which this deduction is
1 33 applicable.
1 34 The bill takes effect upon enactment and applies
1 35 retroactively to January 1, 1998, for tax years beginning on
2 1 or after that date.
2 2 LSB 3003YH 77
2 3 mg/jl/8
Text: HF02182 Text: HF02184 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Feb 25 03:42:23 CST 1998
URL: /DOCS/GA/77GA/Legislation/HF/02100/HF02183/980209.html
jhf