Text: S05365 Text: S05367 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend Senate File 2295, as amended, passed, and
1 2 reprinted by the Senate, as follows:
1 3 #1. Page 1, line 5, by inserting after the words
1 4 "equal to" the following: "seventy-five percent of".
1 5 #2. Page 1, line 9, by striking the word "Five"
1 6 and inserting the following: "Seven".
1 7 #3. Page 1, line 10, by striking the words "Six
1 8 hundred twenty-five" and inserting the following:
1 9 "Eight hundred".
1 10 #4. Page 1, by inserting after line 10 the
1 11 following:
1 12 " . The taxpayer shall not be entitled to the
1 13 credit for tax years beginning in the 2005 and 2006
1 14 calendar years unless the credit is preapproved by the
1 15 department as provided in subsection 2A."
1 16 #5. Page 1, line 18, by inserting after the word
1 17 "taxpayer" the following: "or any other student
1 18 designated by the taxpayer".
1 19 #6. Page 1, by inserting after line 18 the
1 20 following:
1 21 "2A. To receive the tax credit for tax years
1 22 beginning in the 2005 and 2006 calendar years, the
1 23 taxpayer shall apply for the credit to the department
1 24 by January 31 following the end of the calendar year
1 25 in which the contribution was made. If the taxpayer
1 26 and school tuition organization qualify, the
1 27 department shall approve the application for credit
1 28 and so notify the taxpayer by April 1 following
1 29 receipt of the application. However, the department
1 30 of revenue shall only grant approval under this
1 31 section for a total of five million dollars in credits
1 32 in the fiscal year beginning July 1, 2005, and for a
1 33 total of ten million dollars in credits in the fiscal
1 34 year beginning July 1, 2006. If the qualified
1 35 applications total more than five million dollars or
1 36 ten million dollars, as applicable, in credits, the
1 37 department shall reduce the amount of credit approved
1 38 for each taxpayer on a pro rata basis and shall so
1 39 notify the taxpayer of the percentage of the credit
1 40 approved. The department shall prepare application
1 41 forms which may be made available to charitable
1 42 organizations that may qualify as school tuition
1 43 organizations."
1 44 #7. Page 2, line 29, by inserting after the word
1 45 "school." the following: "A school tuition
1 46 organization shall only award educational scholarships
1 47 and tuition grants to children who reside in Iowa."
1 48 #8. Page 2, line 35, by striking the word "three"
1 49 and inserting the following: "two".
1 50 #9. Page 3, line 15, by inserting after the word
2 1 "students" the following: ", who reside in the
2 2 state,".
2 3 #10. Page 3, line 16, by striking the word
2 4 "three" and inserting the following: "two".
2 5 #11. Page 3, line 35, by inserting after the
2 6 figure "2005" the following: ", but before January 1,
2 7 2013".
2 8 #12. By renumbering, relettering, or redesignating
2 9 and correcting internal references as necessary.
2 10 SF 2295H
2 11 mg/es/25
Text: S05365 Text: S05367 Text: S05300 - S05399 Text: S Index Bills and Amendments: General Index Bill History: General Index
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