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Senate Study Bill 253

Bill Text

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 to ten twenty 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 a nonpublic accredited elementary or secondary school.
  1 35 The credit is a nonrefundable credit that is applied against
  2  1 the 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 2733XC 77
  2  5 mg/sc/14
     
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