House File 710 H-1210 Amend House File 710 as follows: 1 1. Page 3, by striking lines 30 through 34 and inserting: 2 < Sec. ___. Section 15E.305, subsection 2, Code 2023, is 3 amended to read as follows: 4 2. a. The aggregate amount of tax credits authorized 5 pursuant to this section shall not exceed a total of six seven 6 million dollars annually plus any additional amounts authorized 7 pursuant to paragraph “d” . 8 a. b. The maximum amount of tax credits granted to a 9 taxpayer shall not exceed one hundred thousand dollars of the 10 aggregate amount of tax credits authorized. 11 b. c. Ten percent of the aggregate amount of tax credits 12 authorized in a calendar year shall be reserved for those 13 endowment gifts in amounts of thirty thousand dollars or less. 14 If by September 1 of a calendar year the entire ten percent of 15 the reserved tax credits is not distributed, the remaining tax 16 credits shall be available to any other eligible applicants. 17 d. If after a taxpayer carries forward a tax credit amount 18 for five years as provided in subsection 1, and the aggregate 19 amount of that tax credit claimed against taxes by the taxpayer 20 under subsection 1 is less than the amount of that tax credit 21 allowed the taxpayer, the difference may be authorized as tax 22 credits by the authority and tax credits equal to the amount of 23 the difference may be added to the annual aggregate amount of 24 tax credits authorized in paragraph “a” . 25 Sec. ___. EFFECTIVE DATE. This division of this Act takes 26 effect January 1, 2024. > 27 2. By renumbering as necessary. 28 ______________________________ RINKER of Des Moines -1- HF 710.1694 (1) 90 ec/jh 1/ 1 #1. #2.