Iowa HF2308 mandates the governor to participate in a federal tax credit program for contributions to scholarship granting organizations.

Iowa HF2308 requires the governor to elect participation in the federal tax credit program for individual contributions to scholarship granting organizations. These organizations are nonprofits that provide scholarships to eligible elementary and secondary school students attending nonpublic schools. The bill mandates the Department of Revenue and the Department of Education to follow federal laws and regulations to administer the tax credit, ensuring state eligibility starting from tax years beginning on or after January 1, 2027.

Iowa HF2308 mandates the governor to participate in a federal tax credit program for contributions to scholarship granting organizations.

Iowa HF2308 requires the governor to elect participation in the federal tax credit program for individual contributions to scholarship granting organizations. These organizations are nonprofits that provide scholarships to eligible elementary and secondary school students attending nonpublic schools. The bill mandates the Department of Revenue and the Department of Education to follow federal laws and regulations to administer the tax credit, ensuring state eligibility starting from tax years beginning on or after January 1, 2027.