Text: H01129                            Text: H01131
Text: H01100 - H01199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 1130

Amendment Text

PAG LIN
  1  1    Amend House File 388 as follows:
  1  2    #1.  Page 1, by striking lines 3 through 29 and
  1  3 inserting the following:
  1  4    "a.  On all taxable income from zero through one
  1  5 thousand dollars, four-tenths three-tenths of one
  1  6 percent.
  1  7    b.  On all taxable income exceeding one thousand
  1  8 dollars but not exceeding two thousand dollars, eight-
  1  9 tenths four-tenths of one percent.
  1 10    c.  On all taxable income exceeding two thousand
  1 11 dollars but not exceeding four thousand dollars, two
  1 12 and seven-tenths percent.
  1 13    d.  On all taxable income exceeding four thousand
  1 14 dollars but not exceeding nine thousand dollars, five
  1 15 percent.
  1 16    e.  On all taxable income exceeding nine thousand
  1 17 dollars but not exceeding fifteen thousand dollars,
  1 18 six five and eight-tenths two-tenths percent.
  1 19    f.  On all taxable income exceeding fifteen
  1 20 thousand dollars but not exceeding twenty thousand
  1 21 dollars, seven five and two-tenths percent.
  1 22    g.  On all taxable income exceeding twenty thousand
  1 23 dollars but not exceeding thirty thousand dollars,
  1 24 seven six and fifty-five hundredths percent.
  1 25    h.  On all taxable income exceeding thirty thousand
  1 26 dollars but not exceeding forty-five thousand dollars,
  1 27 eight six and eight-tenths five-tenths percent.
  1 28    i.  On all taxable income exceeding forty-five
  1 29 thousand dollars, nine seven and ninety-eight
  1 30 hundredths percent.
  1 31    Sec. ___.  Section 422.9, subsection 1, Code 1997,
  1 32 is amended to read as follows:
  1 33    1.  An optional standard deduction, after deduction
  1 34 of federal income tax, equal to one thousand two
  1 35 hundred thirty dollars for a married person who files
  1 36 separately or a single person or equal to three
  1 37 thousand thirty dollars for a husband and wife who
  1 38 file a joint return, a surviving spouse, or an
  1 39 unmarried head of household.  The optional standard
  1 40 deduction shall not exceed the amount remaining after
  1 41 deduction of the federal income tax.  The amount of
  1 42 the federal income taxes deducted shall not exceed the
  1 43 amount as computed under subsection 2, paragraph "b".
  1 44    Sec. ___.  Section 422.9, subsection 2, paragraph
  1 45 b, Code 1997, is amended by striking the paragraph and
  1 46 inserting in lieu thereof the following:
  1 47    b.  Add the amount of federal income taxes paid
  1 48 with the federal return or as a result of an
  1 49 adjustment to a federal return for tax years ending
  1 50 prior to January 1, 1997.  Subtract the amount of
  2  1 federal income tax refunds received for a tax year to
  2  2 the extent that the federal income tax was deducted in
  2  3 a previous tax year.
  2  4    Sec. ___.  This Act applies retroactively to
  2  5 January 1, 1997".
  2  6    #2.  Title page, lines 1 and 2, by striking the
  2  7 words "by fifteen percent" and inserting the
  2  8 following:  ", and eliminating the deduction for
  2  9 federal income taxes paid,".  
  2 10 
  2 11 
  2 12                               
  2 13 FALLON of Polk
  2 14 
  2 15 
  2 16                               
  2 17 WITT of Black Hawk
  2 18 HF 388.501 77
  2 19 mg/jw/28
     

Text: H01129                            Text: H01131
Text: H01100 - H01199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

Iowa General Assembly

Search: House Bills and Amendments (77th General Assembly)

© 1997 Cornell College and League of Women Voters of Iowa

Comments about this site or page? webmaster@legis.iowa.gov. Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.

Last update: Tue Mar 4 03:41:28 CST 1997
URL: /DOCS/GA/77GA/Legislation/H/01100/H01130/970303.html
jhf