Senate Journal: Page 1568: Tuesday, May 2, 1995

                                    PETITIONS

         The following petitions were presented and placed on file by:

         Senator Bartz from 166 residents of northern Iowa opposing
    legislation requiring mandatory helmet usage for motorcycles.

         Senator Bartz from 165 residents of northern Iowa opposing
    legislation requiring mandatory helmet usage for bicycles.



                           GOVERNORS ITEM VETO MESSAGE

                                                                 May 2, 1995

    The Honorable Leonard Boswell

    President of the Senate

    State Capitol Building

    L O C A L

         Dear Mr. President:

         I hereby transmit Senate File 69, a bill for an act relating to tax
    provisions involving state income tax, certain county property tax and
    services associated with mental health and developmental disabilities
    services, the county property tax limitation, and property tax on
    industrial machinery, equipment and computers, providing appropriations,
    and providing effective and applicability dates.

         Senate File 69 represents landmark legislation for the first
    session of the Seventy-Sixth General Assembly. The bill contains nearly
    $100 million in tax reductions for Iowa families and businesses in
    fiscal year 1996, growing to $172 million in fiscal year 2001.

         With the repeal of property taxes on new machinery and equipment,
    this bill will have an immediate impact on Iowas ability to attract and
    keep high paying jobs. This impact will grow in the future, as all
    property taxes on existing equipment are gradually eliminated. County
    taxpayers will also receive property tax relief through the mental
    health provisions, where 50 percent of mental health financing is
    shifted to the State and a process for costs containment is begun.
    Finally, families and retirees will see their Iowa income tax bills go
    down as a result of increasing the dependent credit from $15 to $40, and
    allowing the exclusion from taxable income of $3,000 of pension income
    ($6,000 for married filers).

         I believe that Senate File 69 is an excellent first step towards
    the goals of increasing jobs, personal income and population growth. I
    expect additional action to be taken during the next legislative session
    to reduce income tax rates and treating small businesses the same as
    other corporations under the single-factor corporate income tax. These
    changes are critical to attaining our goals.

Iowa General Assembly

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

© 1995 Cornell College and League of Women Voters of Iowa

Comments? sjourn@legis.iowa.gov.

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