Text: SF02164 Text: SF02166 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.12, Code 1997, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 4. A postsecondary tuition tax credit 1 4 equal to twenty-five percent of the amount of tuition and fees 1 5 paid by the taxpayer for the taxpayer or taxpayer's spouse or 1 6 dependent in attending a postsecondary institution located in 1 7 the state. As used in this section, "postsecondary 1 8 institution" means an institution as defined in section 1 9 261A.4. Tuition and fees do not include any amount paid for 1 10 textbooks. 1 11 Sec. 2. EFFECTIVE AND APPLICABILITY DATES. This Act, 1 12 being deemed of immediate importance, takes effect upon 1 13 enactment and applies retroactively to January 1, 1998, for 1 14 tax years beginning on or after that date. 1 15 EXPLANATION 1 16 The bill provides an individual income tax credit of 25 1 17 percent of the tuition and fees paid by the taxpayer for the 1 18 taxpayer or the taxpayer's spouse or dependent to attend an 1 19 accredited private college or university in the state. The 1 20 amounts paid for textbooks are not included. 1 21 The bill takes effect upon enactment and applies 1 22 retroactively to January 1, 1998, for tax years beginning on 1 23 or after that date. 1 24 LSB 3944SS 77 1 25 mg/jl/8
Text: SF02164 Text: SF02166 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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