Amendment H-1210 to HF 710

Filed April 12, 2023 in the House by

What it changes

1. Page 3, by striking lines 30 through 34 and inserting: “Sec. ___. Section 15E.305, subsection 2, Code 2023, is amended to read as follows:
2. a. The aggregate amount of tax credits authorized pursuant to this section shall not exceed a total of six seven million dollars annually plus any additional amounts authorized pursuant to paragraph “d” . a. b. The maximum amount of tax credits granted to a taxpayer shall not exceed one hundred thousand dollars of the aggregate amount of tax credits authorized. b. c. Ten percent of the aggregate amount of tax credits authorized in a calendar year shall be reserved for those endowment gifts in amounts of thirty thousand dollars or less. If by September 1 of a calendar year the entire ten percent of the reserved tax credits is not distributed, the remaining tax credits shall be available to any other eligible applicants. d. If after a taxpayer carries forward a tax credit amount for five years as provided in subsection 1, and the aggregate amount of that tax credit claimed against taxes by the taxpayer under subsection 1 is less than the amount of that tax credit allowed the taxpayer, the difference may be authorized as tax credits by the authority and tax credits equal to the amount of the difference may be added to the annual aggregate amount of tax credits authorized in paragraph “a” . Sec. ___. EFFECTIVE DATE. This division of this Act takes effect January 1,
3. ”
4. By renumbering as necessary.

Official amendment (PDF) · In the Bill Book