Text: H08572 Text: H08574 Text: H08500 - H08599 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2535 as follows: 1 2 #1. By striking everything after the enacting 1 3 clause and inserting the following: 1 4 "Section 1. NEW SECTION. 422.11D ASSISTIVE 1 5 DEVICE TAX CREDIT SMALL BUSINESS. 1 6 1. The taxes imposed under this division, less the 1 7 credits allowed under sections 422.12 and 422.12B, 1 8 shall be reduced by an assistive device tax credit. A 1 9 small business purchasing, renting, or modifying an 1 10 assistive device or making workplace modifications for 1 11 an individual with a disability who is employed or 1 12 will be employed by the small business is entitled to 1 13 receive this assistive device tax credit which is 1 14 equal to fifty percent of the first five thousand 1 15 dollars paid during the tax year for the purchase, 1 16 rental, or modification of the assistive device or for 1 17 making the workplace modifications. Any credit in 1 18 excess of the tax liability shall be refunded with 1 19 interest computed under section 422.25. In lieu of 1 20 claiming a refund, a taxpayer may elect to have the 1 21 overpayment shown on the taxpayer's final, completed 1 22 return credited to the tax liability for the following 1 23 tax year. If the small business elects to take the 1 24 assistive device tax credit, the small business shall 1 25 reduce the deduction for the costs of purchasing, 1 26 renting, or modifying an assistive device or making 1 27 workplace modifications by the amount of the credit. 1 28 2. An individual may claim an assistive device tax 1 29 credit allowed a partnership, limited liability 1 30 company, S corporation, estate, or trust electing to 1 31 have the income taxed directly to the individual. The 1 32 amount claimed by the individual shall be based upon 1 33 the pro rata share of the individual's earnings of the 1 34 partnership, limited liability company, S corporation, 1 35 estate, or trust. 1 36 3. For purposes of this section: 1 37 a. "Assistive device" means any item, piece of 1 38 equipment, or product system which is used to 1 39 increase, maintain, or improve the functional 1 40 capabilities of an individual with a disability in the 1 41 workplace or on the job. "Assistive device" does not 1 42 mean any medical device, surgical device, or organ 1 43 implanted or transplanted into or attached directly to 1 44 an individual. "Assistive device" does not include 1 45 any device for which a certificate of title is issued 1 46 by the state department of transportation, but does 1 47 include any item, piece of equipment, or product 1 48 system otherwise meeting the definition of "assistive 1 49 device" that is incorporated, attached, or included as 1 50 a modification in or to such a device issued a 2 1 certificate of title. 2 2 b. "Disability" means the same as defined in 2 3 section 225C.46. 2 4 c. "Small business" means a business that either 2 5 had gross receipts for its preceding tax year of three 2 6 million dollars or less or employed not more than 2 7 fourteen full-time employees during its preceding tax 2 8 year. 2 9 d. "Workplace modifications" means physical 2 10 alterations to the work environment. 2 11 Sec. 2. Section 422.33, Code Supplement 1999, is 2 12 amended by adding the following new subsection: 2 13 NEW SUBSECTION. 9. The taxes imposed under this 2 14 division shall be reduced by an assistive device tax 2 15 credit. A small business purchasing, renting, or 2 16 modifying an assistive device or making workplace 2 17 modifications for purposes of an individual with a 2 18 disability who is employed or will be employed by the 2 19 small business is entitled to receive this assistive 2 20 device tax credit which is equal to fifty percent of 2 21 the first five thousand dollars paid during the tax 2 22 year for the purchase, rental, or modification of the 2 23 assistive device or for making the workplace 2 24 modifications. Any credit in excess of the tax 2 25 liability shall be refunded with interest computed 2 26 under section 422.25. In lieu of claiming a refund, a 2 27 taxpayer may elect to have the overpayment shown on 2 28 the taxpayer's final, completed return credited to the 2 29 tax liability for the following tax year. If the 2 30 small business elects to take the assistive device tax 2 31 credit, the small business shall reduce the deduction 2 32 for the costs of purchasing, renting, or modifying an 2 33 assistive device or making workplace modifications by 2 34 the amount of the credit. 2 35 a. For purposes of this subsection, "assistive 2 36 device" means any item, piece of equipment, or product 2 37 system which is used to increase, maintain, or improve 2 38 the functional capabilities of an individual with a 2 39 disability in the workplace or on the job. "Assistive 2 40 device" does not mean any medical device, surgical 2 41 device, or organ implanted or transplanted into or 2 42 attached directly to an individual. "Assistive 2 43 device" does not include any device for which a 2 44 certificate of title is issued by the state department 2 45 of transportation, but does include any item, piece of 2 46 equipment, or product system otherwise meeting the 2 47 definition of "assistive device" that is incorporated, 2 48 attached, or included as a modification in or to such 2 49 a device issued a certificate of title. 2 50 b. "Disability" means the same as defined in 3 1 section 225C.46. 3 2 c. "Small business" means a business that either 3 3 had gross receipts for its preceding tax year of three 3 4 million dollars or less or employed not more than 3 5 fourteen full-time employees during its preceding tax 3 6 year. 3 7 d. "Workplace modifications" means physical 3 8 alterations to the work environment. 3 9 Sec. 3. EFFECTIVE AND RETROACTIVE APPLICABILITY 3 10 DATE. This Act, being deemed of immediate importance, 3 11 takes effect upon enactment and applies retroactively 3 12 to January 1, 2000, for tax years beginning on or 3 13 after that date." 3 14 #2. Title page, by striking lines 1 through 3 and 3 15 inserting the following: "An Act providing an 3 16 individual and corporate tax credit for the 3 17 acquisition or modification of assistive technology or 3 18 the modification of the workplace in order to assist 3 19 persons with a disability in the workplace and 3 20 including an effective and retroactive applicability 3 21 date provision." 3 22 3 23 3 24 3 25 WEIGEL of Chickasaw 3 26 HF 2535.803 78 3 27 mg/cf
Text: H08572 Text: H08574 Text: H08500 - H08599 Text: H Index Bills and Amendments: General Index Bill History: General Index
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