Text: HF00585 Text: HF00587 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 425.17, subsection 7, Code 1997, is 1 2 amended to read as follows: 1 3 7. "Income" means the sum of Iowa net income as defined in 1 4 section 422.7, plus all of the following to the extent not 1 5 already included in Iowa net income: capital gains, alimony, 1 6 child support money, cash public assistance and relief, except 1 7 property tax relief granted under this division,amount of in-1 8kind assistance for housing expenses,the gross amount of any 1 9 pension or annuity, including but not limited to railroad 1 10 retirement benefits, payments received under the federal 1 11 Social Security Act, except child insurance benefits received 1 12 by a member of the claimant's household, and all military 1 13 retirement and veterans' disability pensions, interest 1 14 received from the state or federal government or any of its 1 15 instrumentalities, workers' compensation and the gross amount 1 16 of disability income or "loss of time" insurance. "Income" 1 17 does not include gifts from nongovernmental sources, or 1 18 surplus foods or other relief in kind supplied by a 1 19 governmental agency. In determining income, net operating 1 20 losses and net capital losses shall not be considered. 1 21 Sec. 2. APPLICABILITY. This Act applies to homestead 1 22 credits and rent reimbursements for taxes due and payable in 1 23 fiscal years beginning on or after July 1, 1997. 1 24 EXPLANATION 1 25 This bill amends the definition of "income" used in 1 26 determining eligibility for the homestead property tax credit 1 27 and rent reimbursement by removing from inclusion as income 1 28 in-kind assistance for housing expenses. 1 29 The bill applies to property taxes due and payable in 1 30 fiscal years beginning on or after July 1, 1997. 1 31 LSB 1560HH 77 1 32 sc/sc/14
Text: HF00585 Text: HF00587 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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