Text: S05660 Text: S05662 Text: S05600 - S05699 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2496, as amended, passed, and 1 2 reprinted by the House, as follows: 1 3 #1. Page 4, by inserting after line 25 the 1 4 following: 1 5 "Sec. 101. Section 97A.8, subsection 1, paragraph 1 6 i, Code 1997, is amended to read as follows: 1 7 i. (1) Notwithstanding paragraph "g" or other 1 8 provisions of this chapter, beginning January 1, 1995, 1 9 for federal income tax purposes, and beginning January 1 10 1, 1999, for state income tax purposes, member 1 11 contributions required under paragraph "f" or "h" 1 12 which are picked up by the department shall be 1 13 considered employer contributions for federal and 1 14 state income tax purposes, and the department shall 1 15 pick up the member contributions to be made under 1 16 paragraph "f" or "h" by its employees. The department 1 17 shall pick up these contributions by reducing the 1 18 salary of each of its employees covered by this 1 19 chapter by the amount which each employee is required 1 20 to contribute under paragraph "f" or "h" and shall 1 21 certify the amount picked up in lieu of the member 1 22 contributions to the department of revenue and 1 23 finance. The department of revenue and finance shall 1 24 forward the amount of the contributions picked up to 1 25 the board of trustees for recording and deposit in the 1 26 pension accumulation fund. 1 27 (2) Member contributions picked up by the 1 28 department under subparagraph (1) shall be treated as 1 29 employer contributions for federal and state income 1 30 tax purposes only and for all other purposes of this 1 31 chapterand the laws of this stateshall be treated as 1 32 employee contributions and deemed part of the 1 33 employee's earnable compensation or salary." 1 34 #2. Page 7, by inserting after line 17 the 1 35 following: 1 36 "Sec. 102. Section 97B.11A, Code 1997, is amended 1 37 to read as follows: 1 38 97B.11A PICKUP OF EMPLOYEE CONTRIBUTIONS. 1 39 1. Notwithstanding section 97B.11 or other 1 40 provisions of this chapter, beginning January 1, 1995, 1 41 for federal income tax purposes, and beginning January 1 42 1, 1999, for state income tax purposes, member 1 43 contributions required under section 97B.11 which are 1 44 picked up by the employer shall be considered employer 1 45 contributions for federal and state income tax 1 46 purposes, and each employer shall pick up the member 1 47 contributions to be made under section 97B.11 by its 1 48 employees. Each employer shall pick up these 1 49 contributions by reducing the salary of each of its 1 50 employees covered by this chapter by the amount which 2 1 each employee is required to contribute under section 2 2 97B.11 and shall pay the amount picked up in lieu of 2 3 the member contributions as provided in section 2 4 97B.14. 2 5 2. Member contributions picked up by each employer 2 6 under subsection 1 shall be treated as employer 2 7 contributions for federal and state income tax 2 8 purposes only and for all other purposes of this 2 9 chapterand the laws of this stateshall be treated as 2 10 employee contributions and deemed part of the 2 11 employee's wages or salary." 2 12 #3. Page 85, by inserting after line 34 the 2 13 following: 2 14 "Sec. 103. Section 411.8, subsection 1, paragraph 2 15 i, Code 1997, is amended to read as follows: 2 16 i. (1) Notwithstanding paragraph "g" or other 2 17 provisions of this chapter, beginning January 1, 1995, 2 18 for federal income tax purposes, and beginning January 2 19 1, 1999, for state income tax purposes, member 2 20 contributions required under paragraph "f" or "h" 2 21 which are picked up by the city shall be considered 2 22 employer contributions for federal and state income 2 23 tax purposes, and each city shall pick up the member 2 24 contributions to be made under paragraph "f" or "h" by 2 25 its employees. Each city shall pick up these 2 26 contributions by reducing the salary of each of its 2 27 employees covered by this chapter by the amount which 2 28 each employee is required to contribute under 2 29 paragraph "f" or "h" and shall pay the amount picked 2 30 up in lieu of the member contributions to the board of 2 31 trustees for recording and deposit in the fund. 2 32 (2) Member contributions picked up by each city 2 33 under subparagraph (1) shall be treated as employer 2 34 contributions for federal and state income tax 2 35 purposes only and for all other purposes of this 2 36 chapterand the laws of this stateshall be treated as 2 37 employee contributions and deemed part of the 2 38 employee's earnable compensation or salary." 2 39 #4. Page 91, by inserting after line 23 the 2 40 following: 2 41 "Sec. 104. Section 294.10A, Code 1997, is amended 2 42 to read as follows: 2 43 294.10A PICKUP OF TEACHER ASSESSMENTS. 2 44 1. Notwithstanding section 294.9 or other 2 45 provisions of this chapter, for federal income tax 2 46 purposes beginning January 1 following the submission 2 47 by a board of trustees of an application to the 2 48 federal internal revenue service requesting 2 49 qualification of a plan in accordance with the 2 50 requirements of the Internal Revenue Code, as defined 3 1 in section 422.3, and for state income tax purposes 3 2 beginning January 1, 1999, or January 1 following an 3 3 application for qualification, whichever is later, 3 4 teacher assessments required under section 294.9 which 3 5 are picked up by an employing school district shall be 3 6 considered employer contributions for federal and 3 7 state income tax purposes, and each employing school 3 8 district establishing a pension and annuity retirement 3 9 system pursuant to this chapter shall pick up the 3 10 teacher assessments to be made under section 294.9 by 3 11 its employees commencing on theJanuary 1 following an3 12application for qualificationapplicable date on which 3 13 the assessments shall be considered employer 3 14 contributions for income tax purposes under this 3 15 subsection. Each employing school district shall pick 3 16 up these teacher assessments by reducing the salary of 3 17 each of the teachers covered by this chapter by the 3 18 amount which each teacher is required to contribute 3 19 through assessments under section 294.9 and shall pay 3 20 to the board of trustees the amount picked up in lieu 3 21 of the teacher assessments for recording and deposit 3 22 in the fund. 3 23 2. Teacher assessments picked up by each employing 3 24 school district under subsection 1 shall be treated as 3 25 employer contributions for federal and state income 3 26 tax purposes only and for all other purposes of this 3 27 chapterand the laws of this stateshall be treated as 3 28 teacher assessments and deemed part of the teacher's 3 29 wages or salary." 3 30 #5. Page 92, by inserting after line 30 the 3 31 following: 3 32 "Sec. 105. Section 422.7, subsections 29 through 3 33 31, Code Supplement 1997, are amended by striking the 3 34 subsections." 3 35 #6. Page 95, by inserting after line 26 the 3 36 following: 3 37 "Sec. 106. EFFECTIVE AND APPLICABILITY DATE. 3 38 Sections 101, 102, 103, 104, and 105 of this Act take 3 39 effect January 1, 1999, and apply to tax years 3 40 beginning on or after January 1, 1999." 3 41 #7. By renumbering as necessary. 3 42 3 43 3 44 3 45 TOM VILSACK 3 46 MIKE CONNOLLY 3 47 ROD HALVORSON 3 48 JOHNIE HAMMOND 3 49 PATRICIA HARPER 3 50 PATRICK J. DELUHERY 4 1 EUGENE S. FRAISE 4 2 PATTY JUDGE 4 3 JOHN P. KIBBIE 4 4 HF 2496.217 77 4 5 ec/jl/28
Text: S05660 Text: S05662 Text: S05600 - S05699 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: Wed Apr 15 03:46:18 CDT 1998
URL: /DOCS/GA/77GA/Legislation/S/05600/S05661/980414.html
jhf