PRIVATE SCHOOLS: New Bill Expands Tuition Tax Credits
Governor Terry Branstad signed a bill to help Iowa’s private schools Tuesday.
The bill expands the school tuition tax credit program and now allows partnerships, corporations, and estates to qualify for income tax credits when donating to tuition organizations. It also increases the cap for how much donors can give and still be eligible for a tax credit.
“Rather than face the time and expense of accreditation, private schools will now be allowed to use this streamlined process. In short, this will make it easier and less costly for private schools to operate and therefore helping the school choices for the schools and the state of Iowa,” said Governor Branstad.
The new law is the biggest single increase in this tax credit since its inception.