Text: S05276 Text: S05278 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2403, as passed by the House, as 1 2 follows: 1 3 #1. Page 1, by inserting after line 4 the 1 4 following: 1 5 "Sec. ___. Section 627.6, subsection 8, Code 1997, 1 6 is amended by adding the following new paragraph: 1 7 NEW PARAGRAPH. f. All contributions to and assets 1 8 in the following list of plans or contracts and the 1 9 accumulated earnings, and market increases in value, 1 10 therefrom: simplified employee pension plans, self- 1 11 employed pension plans, Keogh plans, individual 1 12 retirement accounts, Roth individual retirement 1 13 accounts, and similar plans for retirement investments 1 14 in the future authorized under federal law. However, 1 15 contributions to a plan shall not be exempt to the 1 16 extent that the contributions for the twenty-four 1 17 month period prior to the date the exemption is 1 18 claimed or execution is issued exceed ten thousand 1 19 dollars in the aggregate over and above the average 1 20 contributions that had been made to the plan or plans 1 21 by the debtor or the debtor's employer or both in the 1 22 five tax years ending prior to the twenty-four-month 1 23 period before the date the exemption is claimed or the 1 24 execution is issued. The exception to the exemption 1 25 in this paragraph for contributions within the twenty- 1 26 four-month period prior to the date the exemption is 1 27 claimed or execution is issued shall not include the 1 28 interest and any accumulation on that interest in any 1 29 new plans or contracts that are used to replace prior 1 30 plans, contracts, or policies that would have been 1 31 excludable from a bankruptcy estate or that the debtor 1 32 could have claimed exempt from execution at the time 1 33 of the transfer. For purposes of this paragraph, 1 34 market increases in value shall include, but not be 1 35 limited to, dividends, stock splits, interest, and 1 36 appreciation." 1 37 #2. By renumbering as necessary. 1 38 1 39 1 40 1 41 COMMITTEE ON JUDICIARY 1 42 ANDY McKEAN, Chairperson 1 43 HF 2403.301 77 1 44 jls/cf/28
Text: S05276 Text: S05278 Text: S05200 - S05299 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 19 03:45:51 CST 1998
URL: /DOCS/GA/77GA/Legislation/S/05200/S05277/980318.html
jhf