Text: SF02308 Text: SF02310 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 422.14A LOTTERY TICKET CREDIT
1 2 FOR INCOME TAXES PAID.
1 3 1. Upon request of a taxpayer who has filed a state income
1 4 tax return and paid the taxpayer's income tax due for the tax
1 5 year, the department shall issue the taxpayer a lottery ticket
1 6 credit equal to the dollar amount paid in state income taxes
1 7 for that tax year. The lottery ticket credit may be exchanged
1 8 for an equivalent dollar amount of lottery tickets or shares
1 9 of any type of lottery game or combination of lottery games
1 10 offered by the lottery board and commissioner. The department
1 11 shall adopt rules pursuant to chapter 17A to administer this
1 12 section.
1 13 2. Subsection 1 shall apply to income tax returns filed by
1 14 fiduciaries pursuant to section 422.14 and by corporate
1 15 officers pursuant to section 422.36.
1 16 Sec. 2. APPLICABILITY DATE. This Act applies to income
1 17 tax returns filed and income taxes paid for the tax year 1997
1 18 and for subsequent tax years.
1 19 EXPLANATION
1 20 This bill provides that each income taxpayer receive $1
1 21 credit to purchase a lottery ticket or share for each $1 paid
1 22 in state income taxes. The lottery credit applies both to
1 23 individual, fiduciary, and corporate income tax returns. The
1 24 bill applies to tax returns filed and the income taxes paid
1 25 for the tax year 1997 and subsequent tax years.
1 26 LSB 4125SS 76
1 27 tj/jw/5
Text: SF02308 Text: SF02310 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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