Senate File 2261 - Introduced SENATE FILE 2261 BY BEHN , SEYMOUR , WIECK , BARTZ , WARD , REYNOLDS , NOBLE , JOHNSON , KAPUCIAN , FEENSTRA , HARTSUCH , BOETTGER , ZAUN , HOUSER , HAHN , KETTERING , and McKINLEY A BILL FOR An Act increasing the amount of the tuition tax credit and 1 including retroactive applicability provisions. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 5997SS (4) 83 tw/sc

S.F. 2261 Section 1. Section 422.12, subsection 2, paragraph b, Code 1 Supplement 2009, is amended to read as follows: 2 b. A tuition credit equal to twenty-five fifty percent 3 of the first one thousand dollars which the taxpayer has 4 paid to others for each dependent in grades kindergarten 5 through twelve, for tuition and textbooks of each dependent 6 in attending an elementary or secondary school situated in 7 Iowa, which school is accredited or approved under section 8 256.11, which is not operated for profit, and which adheres 9 to the provisions of the federal Civil Rights Act of 1964 and 10 chapter 216. Notwithstanding any other provision, all other 11 credits allowed under this subsection shall be deducted before 12 the tuition credit under this paragraph. The department, when 13 conducting an audit of a taxpayer’s return, shall also audit 14 the tuition tax credit portion of the tax return. 15 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies 16 retroactively to January 1, 2010, for tax years beginning on 17 or after that date. 18 EXPLANATION 19 This bill increases the amount of tuition tax credit allowed 20 under Code section 422.12 from 25 percent of the first $1,000 21 paid for tuition and textbooks to 50 percent of the first 22 $1,000. 23 The bill applies retroactively to January 1, 2010, for tax 24 years beginning on or after that date. 25 -1- LSB 5997SS (4) 83 tw/sc 1/ 1