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
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