HF 2125: Relating to college athletics by requiring a name, image, and likeness financial literacy course for college athletes, exempting certain net income received by college athletes from the individual income tax, and allowing for deductions from individual and corporate income taxes for contributions made to college athletic collectives, and including retroactive applicability provisions

What it does

This bill relates to college athletics by requiring a financial literacy course for college athletes, exempting certain net income received by a college athlete from the individual income tax, and allowing for deductions from individual and corporate income taxes for contributions to a collective. DIVISION I —— NET INCOME TAX EXEMPTION AND DEDUCTION —— COLLEGE ATHLETICS. The bill exempts from the individual income tax net income received by a student athlete from a collective. The bill allows a deduction from the individual income tax the amount of a contribution, not to exceed $20,000, made to a nonprofit collective during the tax year for the purpose of providing a benefit to a student athlete.

House subcommittee · named January 30, 2024

• Rep. Henry Stone (R) · henry.stone@legis.iowa.gov
• Rep. Sue Cahill (D)
• Rep. Thomas Jay Moore (R) · tom.moore@legis.iowa.gov

In plain words

1. January 24, 2024Filed in the House and sent to the Education committee
2. January 30, 2024House subcommittee named: Stone, Cahill, Moore and T