Text: SF88            Text: SF90
Complete Bill History


Senate File 89

SENATE FILE BY FEENSTRA, JOHNSON, BARTZ, KAPUCIAN, BACON, SEYMOUR, BOETTGER, ANDERSON, SMITH, and GREINER A BILL FOR 1 An Act providing an individual income tax credit for certain 2 supplies purchased by a teacher and including retroactive 3 applicability provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 1708XS (3) 84 tw/sc PAG LIN 1 1 Section 1. NEW SECTION. 422.11Y Teacher expense credit. 1 2 1. The taxes imposed under this division, less the credits 1 3 allowed under section 422.12, shall be reduced by a teacher 1 4 expense credit equal to the first two hundred fifty dollars 1 5 of the cost incurred to purchase supplies by the taxpayer to 1 6 assist the taxpayer in teaching at an elementary or secondary 1 7 school situated in Iowa, which school is accredited under 1 8 section 256.11. To qualify for the credit, the costs must be 1 9 nonreimbursable from any source. If the cost incurred has been 1 10 deducted in computing federal adjusted gross income, the amount 1 11 of such deduction shall be added in determining net income 1 12 under section 422.7. Any credit in excess of the tax liability 1 13 is nonrefundable. 1 14 2. As used in this section, "supplies" includes but is 1 15 not limited to paper supplies, bulletin boards, books, maps, 1 16 charts, computer software but not hardware, and other items 1 17 directly used by the taxpayer as a teacher. The cost incurred 1 18 to purchase supplies for which a tax credit may be received 1 19 under this section shall not be used by a school district to 1 20 supplement its costs of instructional materials. 1 21 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies 1 22 retroactively to January 1, 2011, for tax years beginning on 1 23 or after that date. 1 24 EXPLANATION 1 25 This bill provides an income tax credit of up to $250 for 1 26 teachers that incur expenses for supplies directly used by 1 27 them in teaching at accredited elementary or secondary schools 1 28 in Iowa. To qualify, the expenses must be nonreimbursable 1 29 from any source. If the expenses were deducted in computing 1 30 federal adjusted gross income, the deduction shall be added 1 31 in determining Iowa net income. These supplies include paper 1 32 supplies, bulletin boards, books, maps, charts, computer 1 33 software but not hardware, and other similar items directly 1 34 used by the taxpayer as a teacher. The cost incurred to 1 35 purchase supplies for which a tax credit may be received under 2 1 this Code section shall not be used by a school district to 2 2 supplement its costs of instructional materials. 2 3 The bill applies retroactively to January 1, 2011, for tax 2 4 years beginning on or after that date. LSB 1708XS (3) 84 tw/sc
Text: SF88            Text: SF90 Complete Bill History