House File 294 - Introduced HOUSE FILE 294 BY DE BOEF , ALONS , WINDSCHITL , MASSIE , PEARSON , HUSEMAN , FRY , SHAW , KLEIN , HANUSA , and SCHULTZ A BILL FOR An Act providing for a credit against the individual income 1 tax for the cost of home school textbooks and instructional 2 materials and including retroactive applicability 3 provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 1955YH (4) 84 tw/sc

H.F. 294 Section 1. Section 422.12, subsection 2, Code 2011, is 1 amended by adding the following new paragraph: 2 NEW PARAGRAPH . c. (1) A home school credit equal to 3 twenty-five percent of the amount expended for the purchase 4 of textbooks for each dependent receiving competent private 5 instruction as defined in section 299A.1. 6 (2) The department, when conducting an audit of a taxpayer’s 7 return, shall also audit the home school tax credit portion of 8 the tax return. 9 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies 10 retroactively to January 1, 2011, for tax years beginning on 11 or after that date. 12 EXPLANATION 13 This bill provides a tax credit equal to 25 percent of 14 the amount expended for the purchase of textbooks for each 15 dependent attending home schooling. 16 The bill applies retroactively to January 1, 2011, for tax 17 years beginning on or after that date. 18 -1- LSB 1955YH (4) 84 tw/sc 1/ 1