Bills › 90th General Assembly

HF 2125Died when the session ended · January 24, 2024

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

Topics:Higher educationTaxesIncome taxes

Where it is now

  1. Done: IntroducedJanuary 24, 2024
  2. Done: SubcommitteeJanuary 30, 2024
  3. Stopped: House committeeDied when the General Assembly ended
  4. Next: Passes the House
  5. Next: Senate committee
  6. Next: Passes the Senate
  7. Next: To the Governor
  8. Next: Signed into law

Died when the session ended The 2024 session adjourned on April 19, 2024, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

AI summary College athletes would be required to complete two financial literacy courses during their time in school. The law also stops student athletes from paying income tax on money they receive from a collective. Additionally, individuals and businesses can take tax deductions for money they donate to certain nonprofit collectives that support these athletes.1

Read the official explanation

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. The bill allows a similar deduction from the corporate income tax not to exceed $40,000. The bill defines “collective” to mean a for-profit or nonprofit entity that pools money to provide benefits to student athletes including facilitating opportunities to build and enhance the personal brand of the student athlete enrolled in the school.183, or an institution of higher education under the control of the state board of regents. The bill defines “student athlete” to mean a student enrolled at a school who participates in an organized competitive intercollegiate athletic program at the school. The bill also defines “participates” to include a student who elects not to compete for a year against other competitive teams, or who is injured but remains on the competitive intercollegiate athletic program. The division applies retroactively to tax years beginning on or after January 1, 2024. DIVISION II —— NAME, IMAGE, AND LIKENESS FINANCIAL LITERACY COURSE —— COLLEGE ATHLETE. The bill requires a student as defined in the bill to enroll and complete two name, image, and likeness financial literacy courses during the enrollment period at a community college, accredited private institution, or institution of higher education under the control of the state board of regents.

Full bill text2

House subcommittee

Named January 30, 2024. Meeting: Thursday, February 1 · 12:00 PM · RM 304 (Cancelled).

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

1 written public comment to its subcommittee: February 1, 2024 (1) · on the Legislature’s site

Iowa Code it changes

Amends§256.183§260C.14§262.9§422.35§422.7

How the Code works3

Lobbying

0 for · 0 against · 3 undecided · Who →