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House Journal: Page 1613: Monday, April 15, 1996

11   Revenue Code, a tax benefit shall be allowed on the
12   Iowa return.  The tax benefit shall be the reduced tax
13   for the current tax year due to the deduction for the
14   repaid income or the reduction in tax for the prior
15   year or years due to exclusion of the repaid income.
16   The reduction in tax shall qualify as a refundable tax
17   credit on the return for the current year pursuant to
18   rules prescribed by the director."
19     2.  Page 2, line 23, by striking the word "This"
20   and inserting the following:  "Section 100 of this
21   Act, amending section 422.5, applies retroactively to
22   January 1, 1992, for tax years beginning on or after
23   that date.  The remainder of this".
24     3.  By renumbering and correcting internal
25   references as necessary.
Amendment H-5805 was adopted.
 SENATE FILE 2168 SUBSTITUTED FOR HOUSE FILE 2305
Lamberti of Polk asked and received unanimous consent to
substitute Senate File 2168 for House File 2305.
Senate File 2168, a bill for an act updating the Iowa Code
references to the Internal Revenue Code and providing a
retroactive applicability date and an effective date, was taken
up for consideration.
Lamberti of Polk offered the following amendment H-5853 filed by
him and moved its adoption:

H-5853

 1     Amend Senate File 2168, as amended, passed, and
 2   reprinted by the Senate, as follows:
 3     1.  Page 1, line 17, by striking the word and
 4   figure "January 1" and inserting the following:
 5   "March 20".
Amendment H-5853 was adopted.
Lamberti of Polk offered the following amendment H-5807 filed by
him and moved its adoption:

H-5807

 1     Amend Senate File 2168, as amended, passed, and
 2   reprinted by the Senate, as follows:
 3     1.  By striking page 1, line 32, through page 2,
 4   line 35.
 5     2.  By renumbering as necessary.
Amendment H-5807 was adopted.
Lamberti of Polk 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.

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Tue Apr 16 13:30:02 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01600/01613.html
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