Text: H09026 Text: H09028 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 2560 as follows:
1 2 #1. Page 5, by inserting after line 7 the
1 3 following:
1 4 "Sec. 200. NEW SECTION. 422.11E ASSISTIVE DEVICE
1 5 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. 201. Section 422.33, Code Supplement 1999, is
2 12 amended by adding the following new subsection:
2 13 NEW SUBSECTION. 8A. 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 #2. Page 5, by inserting after line 22 the
3 10 following:
3 11 "Sec. . EFFECTIVE AND RETROACTIVE APPLICABILITY
3 12 DATE. Sections 200 and 201 of this Act, being deemed
3 13 of immediate importance, take effect upon enactment
3 14 and apply retroactively to January 1, 2000, for tax
3 15 years beginning on or after that date."
3 16 #3. Title page, line 3, by inserting after the
3 17 word "barns" the following: "and for the acquisition
3 18 or modification of assistive technology or the
3 19 modification of the workplace in order to assist
3 20 persons with a disability in the workplace, and
3 21 including an effective and retroactive applicability
3 22 date provision."
3 23
3 24
3 25
3 26 JOCHUM of Dubuque
3 27 HF 2560.310 78
3 28 mg/cf
Text: H09026 Text: H09028 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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