HOUSE BILL No. 1440
DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-3-2-22.
Synopsis: Deduction for postsecondary tuition. Provides a deduction
to an individual in each taxable year for qualified tuition and related
expenses paid by the individual during the taxable year. Limits the
amount of the deduction to $4,000 per taxable year for an individual
filing a single return and $8,000 per taxable year for a married couple
filing a joint return. Provides for a lifetime limit of $20,000 of
deductions for qualified tuition and related expenses per individual for
all taxable years.
Effective: January 1, 2010.
Riecken, Grubb, VanDenburgh
January 13, 2009, read first time and referred to Committee on Education.
First Regular Session 116th General Assembly (2009)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type
, and deletions will appear in
this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type
. Also, the
will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type
this style type
between statutes enacted by the 2008 Regular Session of the General Assembly.
HOUSE BILL No. 1440
A BILL FOR AN ACT to amend the Indiana Code concerning
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-3-2-22; (09)IN1440.1.1. -->
SECTION 1. IC 6-3-2-22 IS ADDED TO THE INDIANA CODE
AS A NEW
SECTION TO READ AS FOLLOWS [EFFECTIVE
JANUARY 1, 2010]: Sec. 22. (a) As used in this section, "qualified
tuition and related expenses" has the meaning set forth in Section
25A(f)(1) of the Internal Revenue Code (26 U.S.C. 25A(f)(1)).
(b) Except as otherwise provided in this section, an individual is
entitled to a deduction from adjusted gross income in each taxable
year for qualified tuition and related expenses paid by the
individual during the taxable year.
(c) The amount of a deduction provided by subsection (b) for a
taxable year may not exceed:
(1) four thousand dollars ($4,000) in the case of an individual
filing a single return; or
(2) eight thousand dollars ($8,000) in the case of a married
couple filing a joint return.
(d) The lifetime total of all deductions allowed to an individual
under this section for all taxable years may not exceed twenty
thousand dollars ($20,000). In determining the lifetime total of all
deductions allowed to an individual under this section for all
taxable years, the individual is charged with one-half (1/2) of the
deduction allowed under this section for each taxable year in which
the individual claimed a deduction under this section on a joint
return filed with the individual's spouse.
SOURCE: ; (09)IN1440.1.2. -->
SECTION 2. [EFFECTIVE JANUARY 1, 2010] IC 6-3-2-22, as
added by this act, applies only to taxable years beginning after
December 31, 2009.