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House Journal: Page 269: Wednesday, February 7, 1996

12   passing in excess of the exemptions allowed as
13   follows:
14     One percent of the first five ten thousand
dollars.
15     Two percent of any amount in excess of five ten
16   thousand dollars and up to twelve twenty-five
thousand
17   five hundred dollars.
18     Three percent on any amount in excess of twelve
19   twenty-five thousand five hundred dollars and up to
20   twenty-five fifty thousand dollars.
21     Four percent on any amount in excess of twenty-five
22   fifty thousand dollars and up to fifty one
hundred
23   thousand dollars.
24     Five percent on any amount all sums in excess of
25   fifty one hundred thousand dollars and up to
seventy-
26   five thousand dollars.
27     Six percent on any amount in excess of seventy-five
28   thousand dollars and up to one hundred thousand
29   dollars.
30     Seven percent on any amount in excess of one
31   hundred thousand dollars and up to one hundred fifty
32   thousand dollars.
33     Eight percent on all sums in excess of one hundred
34   fifty thousand dollars."
A non-record roll call was requested.
The ayes were 36, nays 56.
Amendment H-5017 lost.
LEAVE OF ABSENCE
Leave of absence was granted as follows:
Van Fossen of Scott, until his return, on request of Siegrist of
Pottawattamie.
Weigel of Chickasaw asked and received unanimous consent to
withdraw amendment H-5019 filed by him on January 30, 1996.
Weigel of Chickasaw offered the following amendment H-5037 filed
by him and moved its adoption:

H-5037

 1     Amend House File 2111 as follows:
 2     1.  By striking page 2, line 19, through page 3,
 3   line 25, and inserting the following:
 4            "INHERITANCE TAX CREDIT ON INCOME TAX
 5     Sec. ___.  NEW SECTION.  422.12A  INHERITANCE TAX
 6   CREDIT.
 7     The taxes imposed under this division, less the
 8   credits allowed under sections 422.12 and 422.12B,
 9   shall be reduced by an inheritance tax credit.  The
10   inheritance tax credit is equal to the amount of Iowa

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