House Journal: Page 2211: Wednesday, May 3, 1995

One Hundred-fifteenth Calendar Day - Seventy-sixth Session Day
Hall of the House of Representatives
Des Moines, Iowa, Wednesday, May 3, 1995
The House met pursuant to adjournment at 8:45 a.m., Speaker
Corbett in the chair.
Prayer was offered by The Honorable Dan Carroll, state
representative from Poweshiek County.
The Journal of Tuesday, May 2, 1995 was approved.
CONSIDERATION OF BILLS
Unfinished Business Calendar
The House resumed consideration of Senate File 478, a bill for
an act relating to the state franchise tax imposed on financial
institutions by disallowing the deduction for expenses related
to a financial institution's investment in investment
subsidiaries and providing effective and applicability dates,
previously deferred and placed on the unfinished business
calendar.
Weigel of Chickasaw offered the following amendment H-4204 filed
by him and Koenigs and moved its adoption:
H-4204
 1     Amend Senate File 478, as amended, passed, and
 2   reprinted by the Senate, as follows:
 3     1.  Page 1, by striking lines 24 through 27 and
 4   inserting the following:
 5     "Sec. ___.  This Act applies retroactively to
 6   January 1, 1995, for tax years beginning on or after
 7   that date.  However, the retroactive application of
 8   this Act applies only to financial institutions that
 9   have an investment in an investment subsidiary on or
10   after July 1, 1995, for the remainder of the
11   taxpayer's current taxable year."
12     2.  Title page, line 4, by striking the words
13   "effective and".
Amendment H-4204 was adopted.
Halvorson of Clayton moved that the bill be read a last time now
and placed upon its passage which motion prevailed and the bill
was read a last time.
On the question "Shall the bill pass?" (S.F. 478)

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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