Text: SF00537 Text: SF00539 Text: SF00500 - SF00599 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.12, subsection 2, unnumbered 1 2 paragraph 1, Code 1997, is amended to read as follows: 1 3 A tuition credit equal totentwenty percent of the first 1 4 one thousand dollars which the taxpayer has paid to others for 1 5 each dependent in grades kindergarten through twelve, for 1 6 tuition and textbooks of each dependent in attending an 1 7 elementary or secondary school situated in Iowa, which school 1 8 is accredited or approved under section 256.11, which is not 1 9 operated for profit, and which adheres to the provisions of 1 10 the federal Civil Rights Act of 1964 and chapter 216. As used 1 11 in this subsection, "textbooks" means books and other 1 12 instructional materials and equipment used in elementary and 1 13 secondary schools in teaching only those subjects legally and 1 14 commonly taught in public elementary and secondary schools in 1 15 this state and does not include instructional books and 1 16 materials used in the teaching of religious tenets, doctrines, 1 17 or worship, the purpose of which is to inculcate those tenets, 1 18 doctrines, or worship, and does not include books or materials 1 19 for extracurricular activities including sporting events, 1 20 musical or dramatic events, speech activities, driver's 1 21 education, or programs of a similar nature. Notwithstanding 1 22 any other provision, all other credits allowed under this 1 23 section and section 422.12B shall be deducted before the 1 24 tuition credit under this subsection. The department, when 1 25 conducting an audit of a taxpayer's return, shall also audit 1 26 the tuition tax credit portion of the tax return. 1 27 Sec. 2. APPLICABILITY. This Act applies retroactively to 1 28 January 1, 1997, for tax years beginning on or after that 1 29 date. 1 30 EXPLANATION 1 31 The bill increases the tuition and textbook tax credit from 1 32 10 percent to 20 percent of the first $1,000 paid by the 1 33 taxpayer for each dependent for tuition and textbooks to 1 34 attend an accredited elementary or secondary school. The 1 35 credit is a nonrefundable credit that is applied against the 2 1 taxpayer's state individual income tax. 2 2 The bill applies retroactively to January 1, 1997, for tax 2 3 years beginning on or after that date. 2 4 LSB 2768SV 77 2 5 mg/sc/14
Text: SF00537 Text: SF00539 Text: SF00500 - SF00599 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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