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House Journal: Page 1211: Thursday, April 2, 1998

22   paragraph does not apply if one spouse elects to carry
23   back or carry forward the loss as provided in section
24   422.9, subsection 3.
25     8.  In addition to the other taxes imposed by this
26   section, a tax is imposed on the amount of a lump sum
27   distribution for which the taxpayer has elected under
28   section 402(e) of the Internal Revenue Code to be
29   separately taxed for federal income tax purposes for
30   the tax year.  The rate of tax is equal to twenty-five
31   percent of the separate federal tax imposed on the
32   amount of the lump sum distribution.  A nonresident is
33   liable for this tax only on that portion of the lump
34   sum distribution allocable to Iowa.  The total amount
35   of the lump sum distribution subject to separate
36   federal tax shall be included in net income for
37   purposes of determining eligibility under the thirteen
38   sixteen thousand five eight hundred
seventy-five
39   dollar or less or nine eleven thousand two
hundred
40   fifty dollar or less exclusion, as applicable.
41     Sec. ___.  Section 453A.6, subsection 1, Code 1997,
42   is amended to read as follows:
43     1.  There is imposed, and shall be collected and
44   paid to the department, the following taxes on all
45   cigarettes used or otherwise disposed of in this state
46   for any purpose whatsoever:
47     CLASS A.  On cigarettes weighing not more than
48   three pounds per thousand, eighteen mills three
cents
49   on each such cigarette.
50     CLASS B.  On cigarettes weighing more than three

Page 3

 1   pounds per thousand, eighteen mills three cents on
 2   each such cigarette.
 3     Sec. ___.  APPLICABILITY.  Section 100 of this
 4   division applies retroactively to January 1, 1998, for
 5   tax years beginning on or after that date."
 6     2.  Title page, line 5, by inserting after the
 7   word "credits," the following:  "increasing the net
 8   income exclusion amount,".
 9     3.  Title page, line 8, by inserting after the
10   word "taxes," the following:  "relating to an increase
11   in the cigarette tax rate,".
Greig of Emmet rose on a point of order that amendment H-8516
was not germane.
The Speaker ruled the point well taken and amendment H-8516 not
germane.
Jochum of Dubuque offered amendment H-8865 filed by Jochum, et.
al., as follows:

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