Text: HF02383 Text: HF02385 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, Code Supplement 1995, is amended
1 2 by adding the following new subsection:
1 3 NEW SUBSECTION. 35. Subtract interest, to the extent
1 4 included in adjusted gross income, from individual or joint
1 5 accounts in financial institutions located in the state.
1 6 Sec. 2. This Act applies retroactively to January 1, 1996,
1 7 for tax years beginning on or after that date.
1 8 EXPLANATION
1 9 The bill exempts from state individual income tax the
1 10 interest earned from individual and joint accounts in
1 11 financial institutions located in the state.
1 12 The bill is retroactive to January 1, 1996, for tax years
1 13 beginning on or after that date.
1 14 LSB 3507YH 76
1 15 mg/jw/5
Text: HF02383 Text: HF02385 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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