HF 417: Modifying the tuition and textbook tax credit available against the individual income tax, and including retroactive applicability provisions

What it does

Current law establishes a tuition credit equal to percent of the first $2,000 which the taxpayer has paid to others for each dependent in grades kindergarten through 12, for tuition and textbooks of each dependent who is receiving private instruction or who is attending an elementary or secondary school situated in Iowa, which school is accredited or approved under Code section 256.11, which is not operated for profit, and which adheres to the provisions of the federal Civil Rights Act of 1964 and Code chapter 216 (Iowa civil rights Act of 1965). This bill increases the amount of this tax credit to percent of the first $2,000. The bill applies retroactively to January 1, 2025, for tax years beginning on or after that date.

Lobbying · 3 for, 0 against

For: Homeschool Iowa; Iowa Baptists For Biblical Values; Iowa Catholic Conference

In plain words

1. February 13, 2025Filed in the House and sent to the Ways and Means committee