Senate File 364 - Introduced SENATE FILE 364 BY FEENSTRA A BILL FOR An Act providing an individual income tax credit for a certain 1 amount of educational materials purchased for use in 2 providing competent private instruction in this state and 3 including retroactive applicability provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 2074XS (2) 86 mm/sc

S.F. 364 Section 1. Section 422.12, subsection 1, Code 2015, is 1 amended by adding the following new paragraph: 2 NEW PARAGRAPH . 0b. “Educational materials” means books and 3 other instructional materials and equipment used in providing 4 competent private instruction in this state under chapter 5 299A. “Educational materials” does not include items used in 6 the teaching of religious tenets, doctrines, or worship, the 7 purpose of which is to inculcate those tenets, doctrines, or 8 worship. 9 Sec. 2. Section 422.12, subsection 2, Code 2015, is amended 10 by adding the following new paragraph: 11 NEW PARAGRAPH . e. An educational materials credit equal to 12 the first five hundred dollars that the taxpayer has paid to 13 others for the educational materials of dependents receiving 14 competent private instruction in this state under chapter 299A. 15 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies 16 retroactively to January 1, 2015, for tax years beginning on 17 or after that date. 18 EXPLANATION 19 The inclusion of this explanation does not constitute agreement with 20 the explanation’s substance by the members of the general assembly. 21 This bill creates an individual income tax credit equal 22 to the first $500 that a taxpayer pays to others for the 23 educational materials of dependents receiving competent private 24 instruction in this state under Code chapter 299A. The bill 25 defines “educational materials”. The credit is nonrefundable. 26 The bill applies retroactively to tax years beginning on or 27 after January 1, 2015. 28 -1- LSB 2074XS (2) 86 mm/sc 1/ 1