Existing Programs:
School Tuition Organization Tax Credit — 2006
Gives a tax credit to individuals who donate to organizations that provide private-school scholarships to children from low and middle-income families. A maximum of $8.75 million is available, but that number will increase to $12 million next year.
Education Expense Credit — 1987
Gives tax credits to parents of children going to public or privates schools to cover expenditures not including tuition, such as on book or lab fees.
Legislature status:
Adjourned.
Pending Legislation:
None.
Breakdown:
Terry Branstad signed Senate Bill 603 into law this June, which expands the state’s tax credit scholarship program from $8 million to $12 million, the largest increase since the program’s creation in 2007. The bill also now allows corporations to get the credit in addition to individuals.
Get more information on the ALEC education bills introduced in Iowa in 2013:
- Parent Trigger Act (SF 2)
- The Great Schools Tax Credit (Scholarship Tax Credit) Act (HB 225)
Click on a state for a more in-depth description of what's happening there.
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