Text: HF02185 Text: HF02187 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, Code 1999, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 21A. Subtract, to the extent included,
1 4 the capital gain from each business or nonbusiness capital
1 5 asset damaged or destroyed as a result of a natural disaster.
1 6 Sec. 2. RETROACTIVE APPLICABILITY DATE. This Act applies
1 7 retroactively to January 1, 2000, for tax years beginning on
1 8 or after that date.
1 9 EXPLANATION
1 10 The bill provides for a deduction in computing the
1 11 individual income tax of the capital gain from any business or
1 12 nonbusiness capital asset damaged or destroyed in a natural
1 13 disaster.
1 14 The bill applies retroactively to January 1, 2000, for tax
1 15 years beginning on or after that date.
1 16 LSB 6022HH 78
1 17 mg/cf/24
Text: HF02185 Text: HF02187 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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