Text: SF02464 Text: SF02466 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Section 1. Section 422.7, subsection 10, Code Supplement 1 2 1995, is amended to read as follows: 1 3 10. Notwithstanding the method for computing the amount of 1 4 travel expenses that may be deducted under section 162(h) of 1 5 the Internal Revenue Code, for tax years beginning on or after 1 6 January 1, 1987, a member of the general assembly whose place 1 7 of residence within the legislative district is greater than 1 8 fifty miles from the capitol building of the state may deduct 1 9 the total amount per day determined under section 162(h)(1)(B) 1 10 of the Internal Revenue Code and a member of the general 1 11 assembly whose place of residence within the legislative 1 12 district is fifty or fewer miles from the capitol building of 1 13 the state may deductfiftysixty dollars per day. This 1 14 subsection does not apply to a member of the general assembly 1 15 who elects to itemize for state tax purposes the member's 1 16 travel expenses. 1 17 Sec. 2. This Act applies to tax years beginning on or 1 18 after January 1, 1997. 1 19 EXPLANATION 1 20 The bill increases the amount from $50 to $60 of the per 1 21 diem that a legislator who resides 50 or fewer miles from the 1 22 state capitol building may deduct for state individual income 1 23 tax purposes. 1 24 The bill applies to tax years beginning on or after January 1 25 1, 1997. 1 26 LSB 4313SV 76 1 27 mg/jw/5
Text: SF02464 Text: SF02466 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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