Bill Text: IA SF377 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act increasing the amount of the tuition tax credit and including retroactive applicability provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-12-31 - END OF 2011 ACTIONS [SF377 Detail]
Download: Iowa-2011-SF377-Introduced.html
Senate
File
377
-
Introduced
SENATE
FILE
377
BY
ZAUN
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
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S.F.
377
Section
1.
Section
422.12,
subsection
2,
paragraph
b,
Code
1
2011,
is
amended
to
read
as
follows:
2
b.
A
tuition
credit
equal
to
twenty-five
fifty
percent
3
of
the
first
one
thousand
dollars
which
that
the
taxpayer
4
has
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,
2011,
for
tax
years
beginning
on
17
or
after
that
date.
18
EXPLANATION
19
This
bill
increases
the
amount
of
tuition
tax
credit
allowed
20
under
Code
section
422.12
from
25
percent
of
the
first
$1,000
21
paid
for
tuition
and
textbooks
to
50
percent
of
the
first
22
$1,000.
23
The
bill
applies
retroactively
to
January
1,
2011,
for
tax
24
years
beginning
on
or
after
that
date.
25
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