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House Journal: Page 923: Wednesday, March 22, 1995

29   surviving spouse of an individual or a survivor having
30   an insurable interest in an individual who would have
31   qualified for the exemption under this subsection for
32   the tax year, subtract, to the extent included, the
33   total amount of a governmental or other pension,
34   retirement pay, annuity, or other similar periodic
35   payment made under a plan maintained or contributed to
36   by an employer, or maintained or contributed to by a
37   self-employed person as an employer, up to a maximum
38   of three thousand dollars for a person who files a
39   separate state income tax return, and up to a maximum
40   of six thousand dollars for a husband and wife who
41   file a joint state income tax return.  However, a
42   surviving spouse who is not disabled or fifty-five
43   years of age or older can only exclude the amount of
44   annuities or other similar periodic payments received
45   as a result of the death of the other spouse.
46     Sec. ___.  Section 422.12, subsection 1, paragraph
47   c, Code 1995, is amended to read as follows:
48     c.  For each dependent, an additional fifteen
sixty
49   dollars.  As used in this section, the term
50   "dependent" has the same meaning as provided by the

Page  12

 1   Internal Revenue Code.
 2     Sec. ___.  APPLICABILITY.  This division of this
 3   Act applies retroactively to January 1, 1995, for tax
 4   years beginning on or after that date.
 5                         DIVISION V
 6               CASH RESERVE AND SPECIAL FUNDS
 7     Sec. ___.  Section 8.56, subsection 1, Code 1995,
 8   is amended to read as follows:
 9     1.  A cash reserve fund is created in the state
10   treasury.  The cash reserve fund shall be separate
11   from the general fund of the state and shall not be
12   considered part of the general fund of the state
13   except in determining the cash position of the state
14   as provided in subsection 3.  The moneys in the cash
15   reserve fund are not subject to section 8.33 and shall
16   not be transferred, used, obligated, appropriated, or
17   otherwise encumbered except as provided in this
18   section.  Notwithstanding section 12C.7, subsection 2,
19   interest or earnings on moneys deposited in the cash
20   reserve fund shall be credited to the rebuild Iowa
21   economic emergency fund infrastructure fund created
in
22   section 8.57.  Moneys in the cash reserve fund may be
23   used for cash flow purposes provided that any moneys
24   so allocated are returned to the cash reserve fund by
25   the end of each fiscal year.  However, the fund shall
26   be considered a special account for the purposes of
27   section 8.53.
28     Sec. ___.  Section 8.56, subsection 4, paragraph b,
29   Code 1995, is amended to read as follows:

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

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URL: /DOCS/GA/76GA/Session.1/HJournal/00900/00923.html
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