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IA SSB1119
SB
AI Summary
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Creates a new individual income tax deduction for expenses related to career-related programs at institutions of higher education that do not qualify for college credit
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Allows deduction for expenses associated with participation in apprenticeship programs registered with the Iowa Office of Apprenticeship under Chapter 84D
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Eligible expenses include tuition, fees, books, supplies, and equipment; loan repayments for these expenses also qualify as deductible payments
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Excludes payments made from Iowa Education Savings Plan (529 plan) accounts or similar plans from qualifying for the deduction
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Applies retroactively to tax years beginning on or after January 1, 2025
Legislative Description
A bill for an act creating a deduction available against the individual income tax for educational expenses at institutions of higher education for career-related programs and apprenticeship programs, and including retroactive applicability provisions.(See SF 379.)
Last Action
Committee report approving bill, renumbered as SF 379.
2/19/2025