HF 203: Creating a Caitlin Clark and Lisa Bluder monument tax credit and fund available against the individual and corporate income taxes, the franchise tax, the insurance premiums tax, and the moneys and credits tax

What it does

This bill creates a Caitlin Clark and Lisa Bluder monument tax credit and fund available against the individual, corporate, franchise, insurance premium, and moneys and credits taxes. The amount of the credit shall equal percent of a person’s donation to the Caitlin Clark and Lisa Bluder monument fund created in the bill. The bill specifies that the amount of the donation for which the tax credit is claimed shall not be deductible for state income tax purposes. A credit provided in the bill in excess of tax liability is not refundable but the excess for the tax year may be credited to a person’s tax liability for the following five years or until depleted, whichever occurs first.

Lobbying · 1 for, 0 against

For: Iowa Board of Regents

In plain words

1. February 3, 2025Filed in the House and sent to the Ways and Means committee