Bill Text: IA SSB1188 | 2017-2018 | 87th General Assembly | Introduced
Bill Title: A bill for an act relating to the school tuition organization tax credit by amending the requirements for a student to receive a tuition grant under the program, and including effective date and retroactive and other applicability provisions.
Spectrum: Committee Bill
Status: (N/A - Dead) - [SSB1188 Detail]
Download: Iowa-2017-SSB1188-Introduced.html
Senate
Study
Bill
1188
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
FEENSTRA)
A
BILL
FOR
An
Act
relating
to
the
school
tuition
organization
tax
credit
1
by
amending
the
requirements
for
a
student
to
receive
a
2
tuition
grant
under
the
program,
and
including
effective
3
date
and
retroactive
and
other
applicability
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
TLSB
2683XC
(3)
87
mm/rn
S.F.
_____
Section
1.
Section
422.11S,
subsection
6,
paragraph
a,
Code
1
2017,
is
amended
to
read
as
follows:
2
a.
“Eligible
student”
means
a
student
who
is
a
member
of
a
3
household
whose
total
annual
income
during
the
calendar
year
4
before
the
student
receives
a
tuition
grant
for
purposes
of
5
this
section
does
not
exceed
an
amount
equal
to
three
four
6
times
the
most
recently
published
federal
poverty
guidelines
in
7
the
federal
register
by
the
United
States
department
of
health
8
and
human
services.
9
Sec.
2.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
10
immediate
importance,
takes
effect
upon
enactment.
11
Sec.
3.
APPLICABILITY.
This
Act
applies
to
tuition
grants
12
provided
on
or
after
the
effective
date
of
this
Act.
13
Sec.
4.
RETROACTIVE
APPLICABILITY.
This
Act
applies
14
retroactively
to
January
1,
2017,
for
tax
years
beginning
on
15
or
after
that
date.
16
EXPLANATION
17
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
18
the
explanation’s
substance
by
the
members
of
the
general
assembly.
19
Current
law
provides
an
individual
and
corporate
income
tax
20
credit
for
charitable
contributions
to
certain
nonprofit
school
21
tuition
organizations
that
provide
tuition
grants
to
eligible
22
students
for
attendance
at
nonpublic
elementary
or
secondary
23
schools
in
Iowa.
In
order
to
qualify
as
a
school
tuition
24
organization
eligible
for
the
tax
credit
an
organization
25
must,
among
other
requirements,
only
provide
tuition
grants
26
to
eligible
students.
In
order
to
qualify
as
an
“eligible
27
student”
under
the
program,
a
student’s
household
income
must
28
not
exceed
three
times
the
federal
poverty
amount.
This
bill
29
increases
that
household
income
limit
to
four
times
the
federal
30
poverty
amount.
31
The
bill
takes
effect
upon
enactment
and
applies
to
32
tuition
grants
provided
on
or
after
that
date,
and
applies
33
retroactively
to
January
1,
2017,
for
tax
years
beginning
on
34
or
after
that
date.
35
-1-
LSB
2683XC
(3)
87
mm/rn
1/
1