Senate File 2140 - Introduced SENATE FILE BY KETTERING Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act increasing the dependent tax credit under the individual 2 income tax and including a retroactive applicability date 3 provision. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 5956XS 82 6 mg/rj/5 PAG LIN 1 1 Section 1. Section 422.12, subsection 1, paragraph c, Code 1 2 Supplement 2007, is amended to read as follows: 1 3 c. For each dependent, an additionalfortyone hundred 1 4 dollars. As used in this section, the term "dependent" has 1 5 the same meaning as provided by the Internal Revenue Code. 1 6 Sec. 2. RETROACTIVE APPLICABILITY DATE. This Act applies 1 7 retroactively to January 1, 2008, for tax years beginning on 1 8 or after that date. 1 9 EXPLANATION 1 10 This bill increases the dependent tax credit from $40 to 1 11 $100 under the state individual income tax. The bill applies 1 12 retroactively to January 1, 2008, for tax years beginning on 1 13 or after that date. 1 14 LSB 5956XS 82 1 15 mg/rj/5