Amendment vs bill Amendment H-8034 vs Enrolled

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House File 2340 - Enrolled House File 2340 AN ACT RELATING TO THE IOWA EDUCATIONAL SAVINGS PLAN TRUST BY PERMITTING THE USE OF FUNDS FOR CERTAIN BENEFICIARIES TO ATTEND OUT-OF-STATE ELEMENTARY OR SECONDARY SCHOOLS, AND INCLUDING RETROACTIVE APPLICABILITY PROVISIONS.
House File 2340 H-8034 Amend House File 2340 as follows:
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1.
Section 1.
Page 1, before line 1 by inserting:
Section 422.7, subsection 32, paragraph c, subparagraph (2), subparagraph division (a), Code 2020, is amended to read as follows:
<Section 1.
(a) (i) “Elementary or secondary school” Except as provided in subparagraph subdivision (ii), “elementary or secondary school” means an elementary or secondary school in this state which is accredited under section 256.11, and adheres to the provisions of the federal Civil Rights Act of 1964 and chapter 216.
Section 12D.1, subsection 2, paragraph k, Code 2020, is amended to read as follows:
(ii) “Elementary or secondary school” includes an elementary or secondary school located out of state that educates a beneficiary who meets the definition of “children requiring special education” in section 256B.2, if the elementary or secondary school is accredited under the laws of the state in which it is located and adheres to the federal Civil Rights Act of 1964 and applicable state law analogous to chapter 216.
k.
House File 2340, p.
“Qualified education expenses” means the same as “qualified higher education expenses” as defined in section 529(e)(3) of the Internal Revenue Code, as amended by Pub.
2 Sec.
L.
2.
No.
RETROACTIVE APPLICABILITY.
115-97, and shall include elementary and secondary school expenses for tuition described in section 529(c)(7) of the Internal Revenue Code, subject to the limitations imposed by section 529(e)(3)(A) of the Internal Revenue Code.
This Act applies retroactively to January 1, 2020, for tax years beginning on or after that date.
“Qualified education expenses” includes amounts paid as principal or interest on behalf of a beneficiary or a sibling of the beneficiary on any qualified education loan as defined in section 221(d) of the Internal Revenue Code.
______________________________ ______________________________ PAT GRASSLEY CHARLES SCHNEIDER Speaker of the House President of the Senate I hereby certify that this bill originated in the House and is known as House File 2340, Eighty-eighth General Assembly.
Sec.
______________________________ MEGHAN NELSON Chief Clerk of the House Approved _______________, 2020 ______________________________ KIM REYNOLDS Governor
___.
Section 422.7, subsection 32, paragraph c, subparagraph (1), Code 2020, is amended by adding the following new subparagraph division:
NEW SUBPARAGRAPH DIVISION .
(d) Qualified education loan repayments.> 2.
Page 1, after line 16 by inserting:
<Sec.
___.
Section 422.7, subsection 32, paragraph c, subparagraph (2), Code 2020, is amended by adding the following new subparagraph divisions:
NEW SUBPARAGRAPH DIVISION .
(d) “Qualified education loan repayments” means amounts paid as principal or interest on behalf of the beneficiary or a sibling of the beneficiary on any qualified education loan as defined in section 221(d) of the Internal Revenue Code, not to exceed ten thousand dollars in the aggregate for the beneficiary or a sibling of the beneficiary, respectively.
NEW SUBPARAGRAPH DIVISION .
(e) “Sibling” means an individual who bears a relationship to the designated beneficiary which is described in section 152(d)(2)(B) of the Internal Revenue Code.> HF2340.3290 (2) 88 -1- jm/jh 1/2 3.
Title page, by striking lines 1 through 3 and inserting <An Act relating to the use of Iowa educational savings plan trust funds, and> 4.
By renumbering as necessary.
______________________________ STECKMAN of Cerro Gordo ______________________________ STAED of Linn HF2340.3290 (2) 88 -2- jm/jh 2/2