Text: S05186 Text: S05188 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 2360 as follows: 1 2 #1. Page 15, by inserting after line 8 the 1 3 following: 1 4 "Sec. 101. Section 422.121, Code Supplement 1997, 1 5 is amended to read as follows: 1 6 422.121 APPROPRIATION LIMITATION. 1 7 Beginning with the fiscal year beginning July 1, 1 8 1997, there is appropriated annually from the general 1 9 fund of the state two million dollars to refund the 1 10 credits allowed under this division. Notwithstanding 1 11 section 422.120, for tax years beginning on or after 1 12 January 1, 1997, the livestock production tax credit 1 13 shall only be allowed for cow-calf operations. In 1 14 calculating the tax credit for cow-calf operations for 1 15 tax years beginning in the 1997 calendar year, bred 1 16 cows, bred heifers, and breeding bulls in the 1 17 operations' inventory on December 31 of the tax year 1 18 which were also in the operations on July 1 of the tax 1 19 year and stockers and feeders sold during the tax year 1 20 are to be counted. In calculating the tax credit for 1 21 cow-calf operations for tax years beginning on or 1 22 after January 1, 1998, only those bred cows, bred 1 23 heifers, and breeding bulls in the operations' 1 24 inventory on December 31 of the tax year which were 1 25 also in the operations on July 1 of the tax year are 1 26 to be counted." 1 27 #2. Page 38, by inserting after line 10 the 1 28 following: 1 29 "___. Section 101 of this Act, amending section 1 30 422.121, being deemed of immediate importance, takes 1 31 effect upon enactment and applies retroactively to 1 32 January 1, 1997, for tax years beginning on or after 1 33 that date." 1 34 #3. Title page, line 6, by inserting after the 1 35 word "taxes" the following: "and the livestock 1 36 production credit". 1 37 1 38 1 39 1 40 O. GENE MADDOX 1 41 SF 2360.703 77 1 42 mg/sc/28
Text: S05186 Text: S05188 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 1998 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: Thu Mar 12 03:45:25 CST 1998
URL: /DOCS/GA/77GA/Legislation/S/05100/S05187/980311.html
jhf