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Text: HF00387                           Text: HF00389
Text: HF00300 - HF00399                 Text: HF Index
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House File 388

Partial Bill History

Bill Text

PAG LIN
  1  1                                   HOUSE FILE 388
  1  2 
  1  3                             AN ACT
  1  4 REDUCING THE STATE INDIVIDUAL INCOME TAX RATES BY TEN
  1  5    PERCENT AND INCLUDING AN EFFECTIVE DATE PROVISION.
  1  6 
  1  7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  8 
  1  9    Section 1.  Section 422.5, subsection 1, paragraphs a
  1 10 through i, Code 1997, are amended to read as follows:
  1 11    a.  On all taxable income from zero through one thousand
  1 12 dollars, four-tenths thirty-six hundredths of one percent.
  1 13    b.  On all taxable income exceeding one thousand dollars
  1 14 but not exceeding two thousand dollars, eight-tenths seventy-
  1 15 two hundredths of one percent.
  1 16    c.  On all taxable income exceeding two thousand dollars
  1 17 but not exceeding four thousand dollars, two and seven-tenths
  1 18 forty-three hundredths percent.
  1 19    d.  On all taxable income exceeding four thousand dollars
  1 20 but not exceeding nine thousand dollars, five four and one-
  1 21 half percent.
  1 22    e.  On all taxable income exceeding nine thousand dollars
  1 23 but not exceeding fifteen thousand dollars, six and eight-
  1 24 tenths twelve hundredths percent.
  1 25    f.  On all taxable income exceeding fifteen thousand
  1 26 dollars but not exceeding twenty thousand dollars, seven and
  1 27 two-tenths six and forty-eight hundredths percent.
  1 28    g.  On all taxable income exceeding twenty thousand dollars
  1 29 but not exceeding thirty thousand dollars, seven and fifty-
  1 30 five hundredths six and eight-tenths percent.
  1 31    h.  On all taxable income exceeding thirty thousand dollars
  1 32 but not exceeding forty-five thousand dollars, eight and
  1 33 eight-tenths seven and ninety-two hundredths percent.
  1 34    i.  On all taxable income exceeding forty-five thousand
  1 35 dollars, nine eight and ninety-eight hundredths percent.
  2  1    Sec. 2.  This Act takes effect January 1, 1998, and applies
  2  2 to tax years beginning on or after that date.  
  2  3 
  2  4 
  2  5                                                             
  2  6                               RON J. CORBETT
  2  7                               Speaker of the House
  2  8 
  2  9 
  2 10                                                             
  2 11                               MARY E. KRAMER
  2 12                               President of the Senate
  2 13 
  2 14    I hereby certify that this bill originated in the House and
  2 15 is known as House File 388, Seventy-seventh General Assembly.
  2 16 
  2 17 
  2 18                                                             
  2 19                               ELIZABETH ISAACSON
  2 20                               Chief Clerk of the House
  2 21 Approved                , 1997
  2 22 
  2 23 
  2 24                         
  2 25 TERRY E. BRANSTAD
  2 26 Governor
     
Text: HF00387                           Text: HF00389
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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