Text: H09035 Text: H09037 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend the amendment, H-9019, to House File 2560, as
1 2 follows:
1 3 #1. Page 6, line 11, by striking the word and
1 4 figure ""Sec. 105." and inserting the following:
1 5 ""Sec. 200. NEW SECTION. 422.11E ASSISTIVE
1 6 DEVICE TAX CREDIT – SMALL BUSINESS.
1 7 1. The taxes imposed under this division, less the
1 8 credits allowed under sections 422.12 and 422.12B,
1 9 shall be reduced by an assistive device tax credit. A
1 10 small business purchasing, renting, or modifying an
1 11 assistive device or making workplace modifications for
1 12 an individual with a disability who is employed or
1 13 will be employed by the small business is eligible,
1 14 subject to availability of credits, to receive this
1 15 assistive device tax credit which is equal to fifty
1 16 percent of the first five thousand dollars paid during
1 17 the tax year for the purchase, rental, or modification
1 18 of the assistive device or for making the workplace
1 19 modifications. Any credit in excess of the tax
1 20 liability shall be refunded with interest computed
1 21 under section 422.25. In lieu of claiming a refund, a
1 22 taxpayer may elect to have the overpayment shown on
1 23 the taxpayer's final, completed return credited to the
1 24 tax liability for the following tax year. If the
1 25 small business elects to take the assistive device tax
1 26 credit, the small business shall not deduct for Iowa
1 27 tax purposes any amount of the cost of an assistive
1 28 device or workplace modifications which is deductible
1 29 for federal tax purposes.
1 30 2. To receive the assistive device tax credit, the
1 31 eligible small business must submit an application to
1 32 the department of economic development. If the
1 33 taxpayer meets the criteria for eligibility, the
1 34 department of economic development shall issue to the
1 35 taxpayer a certification of entitlement for the
1 36 assistive device tax credit. However, the combined
1 37 amount of tax credits that may be approved for a
1 38 fiscal year under this section and section 422.33,
1 39 subsection 9, shall not exceed five hundred thousand
1 40 dollars. Tax credit certificates shall be issued on
1 41 an earliest filed basis. The certification shall
1 42 contain the taxpayer's name, address, tax
1 43 identification number, the amount of the credit, and
1 44 tax year for which the certificate applies. The
1 45 taxpayer must file the tax credit certificate with the
1 46 taxpayer's individual income tax return in order to
1 47 claim the tax credit. The departments of economic
1 48 development and revenue and finance shall each adopt
1 49 rules to jointly administer this section and shall
1 50 provide by rule for the method to be used to determine
2 1 for which fiscal year the tax credits are approved.
2 2 3. An individual may claim an assistive device tax
2 3 credit allowed a partnership, limited liability
2 4 company, S corporation, estate, or trust electing to
2 5 have the income taxed directly to the individual. The
2 6 amount claimed by the individual shall be based upon
2 7 the pro rata share of the individual's earnings of the
2 8 partnership, limited liability company, S corporation,
2 9 estate, or trust.
2 10 4. For purposes of this section:
2 11 a. "Assistive device" means any item, piece of
2 12 equipment, or product system which is used to
2 13 increase, maintain, or improve the functional
2 14 capabilities of an individual with a disability in the
2 15 workplace or on the job. "Assistive device" does not
2 16 mean any medical device, surgical device, or organ
2 17 implanted or transplanted into or attached directly to
2 18 an individual. "Assistive device" does not include
2 19 any device for which a certificate of title is issued
2 20 by the state department of transportation, but does
2 21 include any item, piece of equipment, or product
2 22 system otherwise meeting the definition of "assistive
2 23 device" that is incorporated, attached, or included as
2 24 a modification in or to such a device issued a
2 25 certificate of title.
2 26 b. "Disability" means the same as defined in
2 27 section 225C.46.
2 28 c. "Small business" means a business that either
2 29 had gross receipts for its preceding tax year of three
2 30 million dollars or less or employed not more than
2 31 fourteen full-time employees during its preceding tax
2 32 year.
2 33 d. "Workplace modifications" means physical
2 34 alterations to the work environment.
2 35 Sec. 105."
2 36 #2. Page 7, line 20, by striking the word "year.""
2 37 and inserting the following: "year.
2 38 Sec. 201. Section 422.33, Code Supplement 1999, is
2 39 amended by adding the following new subsection:
2 40 NEW SUBSECTION. 8A. a. The taxes imposed under
2 41 this division shall be reduced by an assistive device
2 42 tax credit. A small business purchasing, renting, or
2 43 modifying an assistive device or making workplace
2 44 modifications for an individual with a disability who
2 45 is employed or will be employed by the small business
2 46 is eligible, subject to availability of credits, to
2 47 receive this assistive device tax credit which is
2 48 equal to fifty percent of the first five thousand
2 49 dollars paid during the tax year for the purchase,
2 50 rental, or modification of the assistive device or for
3 1 making the workplace modifications. Any credit in
3 2 excess of the tax liability shall be refunded with
3 3 interest computed under section 422.25. In lieu of
3 4 claiming a refund, a taxpayer may elect to have the
3 5 overpayment shown on the taxpayer's final, completed
3 6 return credited to the tax liability for the following
3 7 tax year. If the small business elects to take the
3 8 assistive device tax credit, the small business shall
3 9 not deduct for Iowa tax purposes any amount of the
3 10 cost of an assistive device or workplace modifications
3 11 which is deductible for federal income tax purposes.
3 12 b. To receive the assistive device tax credit, the
3 13 eligible small business must submit an application to
3 14 the department of economic development. If the
3 15 taxpayer meets the criteria for eligibility, the
3 16 department of economic development shall issue to the
3 17 taxpayer a certification of entitlement for the
3 18 assistive device tax credit. However, the combined
3 19 amount of tax credits that may be approved for a
3 20 fiscal year under this subsection and section 422.11D
3 21 shall not exceed five hundred thousand dollars. Tax
3 22 credit certificates shall be issued on an earliest
3 23 filed basis. The certification shall contain the
3 24 taxpayer's name, address, tax identification number,
3 25 the amount of the credit, and tax year for which the
3 26 certificate applies. The taxpayer must file the tax
3 27 credit certificate with the taxpayer's corporate
3 28 income tax return in order to claim the tax credit.
3 29 The departments of economic development and revenue
3 30 and finance shall each adopt rules to jointly
3 31 administer this subsection and shall provide by rule
3 32 for the method to be used to determine for which
3 33 fiscal year the tax credits are approved.
3 34 c. For purposes of this subsection:
3 35 (1) "Assistive device" means any item, piece of
3 36 equipment, or product system which is used to
3 37 increase, maintain, or improve the functional
3 38 capabilities of an individual with a disability in the
3 39 workplace or on the job. "Assistive device" does not
3 40 mean any medical device, surgical device, or organ
3 41 implanted or transplanted into or attached directly to
3 42 an individual. "Assistive device" does not include
3 43 any device for which a certificate of title is issued
3 44 by the state department of transportation, but does
3 45 include any item, piece of equipment, or product
3 46 system otherwise meeting the definition of "assistive
3 47 device" that is incorporated, attached, or included as
3 48 a modification in or to such a device issued a
3 49 certificate of title.
3 50 (2) "Disability" means the same as defined in
4 1 section 225C.46.
4 2 (3) "Small business" means a business that either
4 3 had gross receipts for its preceding tax year of three
4 4 million dollars or less or employed not more than
4 5 fourteen full-time employees during its preceding tax
4 6 year.
4 7 (4) "Workplace modifications" means physical
4 8 alterations to the work environment.""
4 9 #3. Page 7, line 24, by striking the word and
4 10 figure "and 105" and inserting the following: "200,
4 11 105, and 201".
4 12 #4. Page 7, line 31 by inserting after the word
4 13 "development," the following: "an assistive device
4 14 tax credit under the individual and corporate taxes
4 15 for assisting persons with a disability in the
4 16 workplace,".
4 17
4 18
4 19
4 20 BOAL of Polk
4 21
4 22
4 23
4 24 JOCHUM of Dubuque
4 25 HF 2560.706 78
4 26 mg/cls
Text: H09035 Text: H09037 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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