Text: H09024                            Text: H09026
Text: H09000 - H09099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 9025

Amendment Text

PAG LIN
  1  1    Amend House File 2560 as follows:
  1  2    #1.  By striking everything after the enacting
  1  3 clause and inserting the following:
  1  4    "Section 1.  Section 422.7, subsection 31, Code
  1  5 1999, is amended to read as follows:
  1  6    31.  For a person who is disabled, or is fifty-five
  1  7 years of age or older, or is the surviving spouse of
  1  8 an individual or a survivor having an insurable
  1  9 interest in an individual who would have qualified for
  1 10 the exemption under this subsection for the tax year,
  1 11 subtract, to the extent included, the total amount of
  1 12 a governmental or other pension or retirement pay,
  1 13 including, but not limited to, defined benefit or
  1 14 defined contribution plans, annuities, individual
  1 15 retirement accounts, plans maintained or contributed
  1 16 to by an employer, or maintained or contributed to by
  1 17 a self-employed person as an employer, and deferred
  1 18 compensation plans or any earnings attributable to the
  1 19 deferred compensation plans, up to a maximum of five
  1 20 six thousand dollars for a person, other than a
  1 21 husband or wife, who files a separate state income tax
  1 22 return and up to a maximum of ten twelve thousand
  1 23 dollars for a husband and wife who file a joint state
  1 24 income tax return.  However, a surviving spouse who is
  1 25 not disabled or fifty-five years of age or older can
  1 26 only exclude the amount of pension or retirement pay
  1 27 received as a result of the death of the other spouse.
  1 28 A husband and wife filing separate state income tax
  1 29 returns or separately on a combined state return are
  1 30 allowed a combined maximum exclusion under this
  1 31 subsection of up to ten twelve thousand dollars.  The
  1 32 ten twelve thousand dollar exclusion shall be
  1 33 allocated to the husband or wife in the proportion
  1 34 that each spouse's respective pension and retirement
  1 35 pay received bears to total combined pension and
  1 36 retirement pay received.
  1 37    Sec. 2.  APPLICABILITY DATE.  This Act applies
  1 38 retroactively to January 1, 2000, for the years
  1 39 beginning on or after that date."
  1 40    #2.  Title page, by striking lines 1 through 3 and
  1 41 inserting the following:  "An Act relating to the
  1 42 pension exclusion under the individual income tax and
  1 43 including a retroactive applicability date.".  
  1 44 
  1 45 
  1 46                               
  1 47 SCHRADER of Marion 
  1 48 HF 2560.705 78
  1 49 mg/cls
     

Text: H09024                            Text: H09026
Text: H09000 - H09099                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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