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House Amendment 1005

Amendment Text

PAG LIN
  1  1    Amend Senate File 35, as passed by the Senate, as
  1  2 follows:
  1  3    #1.  By striking everything after the enacting
  1  4 clause and inserting the following:
  1  5    "Section 1.  Section 422.7, subsection 34, Code
  1  6 1997, is amended to read as follows:
  1  7    34.  For a person who is disabled, or is fifty-five
  1  8 years of age or older, or is the surviving spouse of
  1  9 an individual or a survivor having an insurable
  1 10 interest in an individual who would have qualified for
  1 11 the exemption under this subsection for the tax year,
  1 12 subtract, to the extent included, the total amount of
  1 13 a governmental or other pension or retirement pay,
  1 14 including, but not limited to, defined benefit or
  1 15 defined contribution plans, annuities, individual
  1 16 retirement accounts, plans maintained or contributed
  1 17 to by an employer, or maintained or contributed to by
  1 18 a self-employed person as an employer, and deferred
  1 19 compensation plans or any earnings attributable to the
  1 20 deferred compensation plans, up to a maximum of three
  1 21 thousand dollars for a person who files a separate
  1 22 state income tax return and up to a maximum of six
  1 23 thousand dollars for a husband and wife who file a
  1 24 joint state income tax return.  However, a surviving
  1 25 spouse who is not disabled or fifty-five years of age
  1 26 or older can only exclude the amount of pension or
  1 27 retirement pay received as a result of the death of
  1 28 the other spouse.
  1 29    Sec. 2.  APPLICABILITY.  This Act applies
  1 30 retroactively to January 1, 1997, for tax years
  1 31 beginning on or after that date."
  1 32    #2.  Title page, by striking lines 1 through 7 and
  1 33 inserting the following:  "An Act providing an
  1 34 exemption from state individual income tax for
  1 35 pensions, annuities, and retirement allowances
  1 36 received and providing a retroactive applicability
  1 37 date." 
  1 38 
  1 39 
  1 40                               
  1 41 MILLAGE of Scott
  1 42 SF 35.704 77
  1 43 mg/sc/14
     

Text: H01004                            Text: H01006
Text: H01000 - H01099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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