SENATE FILE 118

BY  BOLKCOM

A BILL FOR

An Act increasing the amount of tax credits available under the endow Iowa program.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

   Section 1.  Section 15E.305, subsection 2, unnumbered paragraph 1, Code 2011, is amended to read as follows:
   The aggregate amount of tax credits authorized pursuant to this section shall not exceed a total of two three million seven five hundred thousand dollars plus such additional credit amount as provided by this section annually. The maximum amount of tax credits granted to a taxpayer shall not exceed five percent of the aggregate amount of tax credits authorized.
EXPLANATION
   This bill increases from $2.7 million to $3.5 million the maximum aggregate amount of tax credits available under the endow Iowa program.