A bill for an act creating a premarital counseling tax credit available against the individual income tax, and including retroactive applicability provisions.

House

File

958

-

Introduced

HOUSE

FILE

958

BY

JONES

A

BILL

FOR

An

Act

creating

a

premarital

counseling

tax

credit

available

1

against

the

individual

income

tax,

and

including

retroactive

2

applicability

provisions.

3

BE

IT

ENACTED

BY

THE

GENERAL

ASSEMBLY

OF

THE

STATE

OF

IOWA:

4

TLSB

2561YH

(3)

91

jm/jh

H.F.

958

Section

1.

NEW

SECTION

.

422.10C

Premarital

counseling

tax

1

credit.

2

1.

As

used

in

this

section,

“premarital

counseling”

means

3

the

application

of

counseling

techniques

upon

prospective

4

spouses

in

preparation

of

marriage.

5

2.

The

taxes

imposed

under

this

subchapter,

less

the

credits

6

allowed

under

section

422.12,

shall

be

reduced

by

a

premarital

7

counseling

credit

equal

to

the

cost

of

premarital

counseling,

8

not

to

exceed

five

hundred

dollars.

9

3.

An

individual

may

claim

the

tax

credit

allowed

a

10

partnership,

limited

liability

company,

S

corporation,

estate,

11

or

trust

electing

to

have

the

income

taxed

directly

to

the

12

individual.

The

amount

claimed

by

the

individual

shall

be

13

based

upon

the

pro

rata

share

of

the

individual’s

earnings

of

14

the

partnership,

limited

liability

company,

S

corporation,

15

estate,

or

trust.

16

4.

Any

credit

in

excess

of

the

taxpayer’s

tax

liability

17

for

the

tax

year

is

not

refundable

but

the

excess

for

the

tax

18

year

may

be

credited

to

the

tax

liability

for

the

following

tax

19

year.

20

Sec.

2.

RETROACTIVE

APPLICABILITY.

This

Act

applies

21

retroactively

to

January

1,

2025,

for

tax

years

beginning

on

22

or

after

that

date.

23

EXPLANATION

24

The

inclusion

of

this

explanation

does

not

constitute

agreement

with

25

the

explanation’s

substance

by

the

members

of

the

general

assembly.

26

This

bill

creates

a

premarital

counseling

tax

credit

27

(credit)

available

against

the

individual

income

tax.

28

The

bill

defines

“premarital

counseling”

to

mean

the

29

application

of

counseling

techniques

upon

prospective

spouses

30

in

preparation

of

marriage.

31

The

credit

is

equal

to

the

cost

for

premarital

counseling,

32

not

to

exceed

$500.

Any

credit

in

excess

of

the

taxpayer’s

33

liability

is

not

refundable

but

may

be

credited

to

the

tax

34

liability

for

the

following

tax

year.

35

-1-

LSB

2561YH

(3)

91

jm/jh

1/

2

H.F.

958

The

bill

applies

retroactively

to

January

1,

2025,

for

tax

1

years

beginning

on

or

after

that

date.

2

-2-

LSB

2561YH

(3)

91

jm/jh

2/

2