Amend the bill, as and if amended, by striking SECTION 20 in its entirety and inserting:
/ SECTION 20. A. Section 12-6-3385(A)(1) of the 1976 Code is amended to read:
"Section 12-6-3385. (A)(1) A student is allowed a refundable individual income tax credit equal to twenty-five percent, not to exceed eight hundred fifty one thousand five hundred dollars in the case of both four-year institutions and twenty-five percent, not to exceed three hundred fifty dollars in the case of two-year institutions for tuition paid an institution of higher learning or a designated institution as provided in this section during a taxable year. The amount of the tax credit claimed up to the limits authorized in this section for any taxable year may not exceed the amount of tuition paid during that taxable year."
B. This SECTION takes effect upon approval by the Governor and applies to tax years beginning after 2017. /
Renumber sections to conform.
Amend title to conform.