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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