Text: HF02305 Text: HF02307 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 422.12A INCOME TAX REFUND 1 2 CHECKOFF – BATTLESHIP U.S.S. IOWA FUND. 1 3 1. A person who files an individual or a joint income tax 1 4 return with the department under section 422.13 may designate 1 5 one dollar or more to be paid to the battleship U.S.S. Iowa 1 6 fund as established in this section. If the refund due on the 1 7 return or the payment remitted with the return is insufficient 1 8 to pay the amount designated by the taxpayer to the battleship 1 9 U.S.S. Iowa fund, the amount designated shall be reduced to 1 10 the remaining amount of the refund or the remaining amount 1 11 remitted with the return. The designation of a contribution 1 12 to the battleship U.S.S. Iowa fund under this section is 1 13 irrevocable. 1 14 2. The director shall draft the income tax form to allow 1 15 the designation of contributions to the battleship U.S.S. Iowa 1 16 fund on the tax return. The department, on or before January 1 17 31, shall certify the total amount designated on the tax 1 18 return forms due in the preceding calendar year and shall 1 19 report the amount to the treasurer of state. The treasurer of 1 20 state shall credit the amount to the battleship U.S.S. Iowa 1 21 fund. 1 22 3. The battleship U.S.S. Iowa fund is created within the 1 23 office of the treasurer of state under the control of the 1 24 treasurer of state. The fund shall consist of moneys 1 25 collected as provided in this section. It is the intent of 1 26 the general assembly that the funds generated from the 1 27 checkoff be appropriated annually for the purpose specified in 1 28 this section. All interest earned on moneys in the fund shall 1 29 be credited to and remain in the fund. Section 8.33 does not 1 30 apply to moneys in the fund. The treasurer of state is 1 31 authorized to release money from the fund after a plan for 1 32 expenditure of the funds for use in preserving the battleship 1 33 U.S.S. Iowa is submitted by the Iowa class preservation 1 34 association. 1 35 4. The department shall adopt rules to implement this 2 1 section. However, before a checkoff pursuant to this section 2 2 shall be permitted, all liabilities on the books of the 2 3 department of revenue and finance and accounts identified as 2 4 owing under section 421.17 and the political contribution 2 5 allowed under section 56.18 shall be satisfied. 2 6 5. This section is repealed on July 1, 2001, which repeal 2 7 is effective for tax years beginning January 1, 2001. 2 8 Sec. 2. Section 422.12E, Code 1997, is amended to read as 2 9 follows: 2 10 422.12E INCOME TAX RETURN CHECKOFFS LIMITED. 2 11 For tax years beginning on or after January 1, 1995, there 2 12 shall be allowed no more than three income tax return 2 13 checkoffs on each income tax return. When the same three 2 14 income tax return checkoffs have been provided on the income 2 15 tax return for three consecutive years, the checkoff for which 2 16 the least amount has been contributed, in the aggregate for 2 17 the first two tax years and through March 15 of the third tax 2 18 year, shall be repealed. This section does not apply to the 2 19 income tax returncheckoffcheckoffs provided insection2 20 sections 56.18 and 422.12A. 2 21 Sec. 3. APPLICABILITY DATE. This Act applies 2 22 retroactively to January 1, 1998, for tax years beginning on 2 23 or after that date. 2 24 EXPLANATION 2 25 This bill provides a checkoff on the state income tax form 2 26 to provide moneys to the Iowa class preservation association 2 27 for preservation of the battleship U.S.S. Iowa. The checkoff 2 28 is exempt from automatic repeal. However, the checkoff has a 2 29 sunset provision effective July 1, 2001, for tax years 2 30 beginning January 1, 2001. 2 31 The bill applies retroactively to January 1, 1998, for tax 2 32 years beginning on or after that date. 2 33 LSB 3352HH 77 2 34 sc/sc/14
Text: HF02305 Text: HF02307 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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