Senate File 21 - IntroducedA Bill ForAn Act 1increasing the amount of total approved tax credits for
2purposes of the school tuition organization tax credit.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1   Section 1.  Section 422.11S, subsection 8, paragraph a,
2subparagraph (2), Code 2019, is amended to read as follows:
   3(2)  “Total approved tax credits” means for the tax year
4beginning in the 2006 calendar year, two million five hundred
5thousand dollars, for the tax year beginning in the 2007
6calendar year, five million dollars, for tax years beginning
7on or after January 1, 2008, but before January 1, 2012, seven
8million five hundred thousand dollars, for tax years beginning
9on or after January 1, 2012, but before January 1, 2014, eight
10million seven hundred fifty thousand dollars, and for tax years
11beginning on or after January 1, 2014, but before January 1,
122019, twelve million dollars, and for tax years beginning on
13or after January 1, 2019, but before January 1, 2020, thirteen
14million dollars, and for tax years beginning on or after
15January 1, 2020, twenty million dollars
.
16EXPLANATION
17The inclusion of this explanation does not constitute agreement with
18the explanation’s substance by the members of the general assembly.
   19This bill increases the total approved school tuition
20organization tax credits that may be issued per year to $20
21million from $13 million for tax years beginning on or after
22January 1, 2020.
   23The school tuition organization tax credit is an income
24tax credit allowed for voluntary contributions to certain
25private nonprofit school tuition organizations that award
26tuition scholarships to eligible students to attend accredited
27nonpublic elementary or secondary schools in this state.
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