Increases the tuition and textbook tax credit to 50% of the first $2,000 paid for each dependent in grades K-12.

The bill modifies the tuition and textbook tax credit available against the individual income tax. It increases the credit to 50% of the first $2,000 paid for each dependent in grades kindergarten through twelve. The credit applies to tuition and textbooks for students receiving private instruction or attending an accredited, non-profit elementary or secondary school in Iowa that adheres to federal civil rights laws. The bill also includes retroactive applicability provisions, making it effective for tax years beginning on or after January 1, 2025.

Increases the tuition and textbook tax credit to 50% of the first $2,000 paid for each dependent in grades K-12.

The bill modifies the tuition and textbook tax credit available against the individual income tax. It increases the credit to 50% of the first $2,000 paid for each dependent in grades kindergarten through twelve. The credit applies to tuition and textbooks for students receiving private instruction or attending an accredited, non-profit elementary or secondary school in Iowa that adheres to federal civil rights laws. The bill also includes retroactive applicability provisions, making it effective for tax years beginning on or after January 1, 2025.