House File 2160 - Introduced HOUSE FILE 2160 BY BROWN-POWERS 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 5686YH (1) 87 mm/jh
H.F. 2160 Section 1. Section 422.12, subsection 2, paragraph b, Code 1 2018, is amended to read as follows: 2 b. A tuition credit equal to twenty-five percent of the 3 first one two thousand dollars which that 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, 2018, 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 increases the amount of the tuition tax credit 22 allowed under Code section 422.12 from 25 percent of the first 23 $1,000 paid for tuition and textbooks to 25 percent of the 24 first $2,000 paid. 25 The bill applies retroactively to January 1, 2018, for tax 26 years beginning on or after that date. 27 -1- LSB 5686YH (1) 87 mm/jh 1/ 1