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16 taxable income amount specified in subparagraph (1)
17 shall be multiplied by the cumulative index factor for
18 that tax year. "Cumulative index factor" means the
19 product of the annual index factor for the 1997
20 calendar year and all annual index factors for
21 subsequent calendar years. The cumulative index
22 factor applies to all tax years beginning on or after
23 January 1 of the calendar year for which the latest
24 annual index factor has been determined.
25 (3) The annual index factor for the 1997 calendar
26 year is one hundred percent. For each subsequent
27 calendar year, the annual index factor equals the
28 annual inflation factor for that calendar year as
29 computed in section 422.4 for purposes of the
30 individual income tax."
The motion prevailed and the House concurred in the Senate
amendment H-1940.
Greig of Emmet moved that the bill, as amended by the Senate and
concurred in by the House, be read a last time now and placed
upon its passage which motion prevailed and the bill was read a
last time.
On the question "Shall the bill pass?" (H.F. 726)
The ayes were, 98:
Arnold Barry Bell Bernau
Blodgett Boddicker Boggess Bradley
Brand Brauns Brunkhorst Bukta
Burnett Carroll Cataldo Chapman
Chiodo Churchill Cohoon Corbett, Spkr.
Cormack Dinkla Dix Doderer
Dolecheck Dotzler Drake Drees
Eddie Falck Fallon Foege
Ford Frevert Garman Gipp
Greig Greiner Gries Grundberg
Hahn Hansen Heaton Holmes
Holveck Houser Huseman Huser
Jacobs Jenkins Jochum Kinzer
Klemme Koenigs Kreiman Kremer
Lamberti Larkin Larson Lord
Martin Mascher May Mertz
Metcalf Meyer Millage Moreland
Mundie Murphy Myers O'Brien
Osterhaus Rants Rayhons
Reynolds-Knight Richardson Scherrman Schrader
Shoultz Siegrist Sukup Taylor
Teig Thomas Thomson Tyrrell
Van Fossen Vande Hoef Veenstra Warnstadt
Weidman Weigel Welter Whitead
Wise
Witt Van Maanen,
Presiding
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