S-5095

   Amend Senate File 2301 as follows:
   1.  Page 1, after line 17 by inserting: 
   <Sec. ___.  Section 422.9, subsection 2, Code 2016, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  j.  Subtract charitable contributions under section 170 of the Internal Revenue Code to the extent such contribution was made to an organization for the purpose of deposit in the Iowa education savings plan trust established in chapter 12D, and the taxpayer designated that any part of the contribution be used for the direct benefit of any dependent of the taxpayer or any other single beneficiary designated by the taxpayer. 
   Sec. ___.  Section 422.35, Code 2016, is amended by adding the following new subsection:
   NEW SUBSECTION.  13.  Add, to the extent it reduced federal taxable income, any amount contributed under section 170 of the Internal Revenue Code to the extent such contribution was made to an organization for the purpose of deposit in the Iowa education savings plan trust established in chapter 12D, and the taxpayer designated that any part of the contribution be used for the direct benefit of any dependent of a shareholder of the taxpayer or any other single beneficiary designated by the taxpayer.>
   2.  Page 1, after line 19 by inserting: 
   <Sec. ___.  RETROACTIVE APPLICABILITY.  The following provision or provisions of this Act apply retroactively to January 1, 2016, for tax years beginning on or after that date:
   1.  The section of this Act amending section 422.9.
   2.  The section of this Act amending section 422.35.>
   3.  Title page, line 2, after <date> by inserting <and retroactive applicability>
   4.  By renumbering as necessary.

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JANET PETERSEN