Text: HF02337 Text: HF02339 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 217.39 PERSECUTED VICTIMS OF
1 2 WORLD WAR II AND THEIR HEIRS.
1 3 Notwithstanding any other law of this state, payments paid
1 4 to and income from lost property of a victim of persecution
1 5 for racial, ethnic, or religious reasons by Nazi Germany or
1 6 any other Axis regime or as an heir of such victim which is
1 7 exempt from state income tax as provided in section 422.7,
1 8 subsection 35, shall not be considered as income or an asset
1 9 for determining the eligibility for state or local government
1 10 benefit or entitlement programs. The proceeds are not subject
1 11 to recoupment for the receipt of governmental benefits or
1 12 entitlements and liens, except liens for child support, are
1 13 not enforceable against these sums for any reason.
1 14 Sec. 2. Section 422.7, Code 1999, is amended by adding the
1 15 following new subsection:
1 16 NEW SUBSECTION. 35. Subtract, to the extent included, the
1 17 following:
1 18 a. Payments made to the taxpayer because of his or her
1 19 status as a victim of persecution for racial, ethnic, or
1 20 religious reasons by Nazi Germany or any other Axis regime or
1 21 as an heir of such victim.
1 22 b. Items of income attributable to, derived from, or in
1 23 any way related to assets stolen from, hidden from, or
1 24 otherwise lost to a victim of persecution for racial, ethnic,
1 25 or religious reasons by Nazi Germany or any other Axis regime
1 26 immediately prior to, during, and immediately after World War
1 27 II, including, but not limited to, interest on the proceeds
1 28 receivable as insurance under policies issued to a victim of
1 29 persecution for racial, ethnic, or religious reasons by Nazi
1 30 Germany or any other Axis regime by European insurance
1 31 companies immediately prior to and during World War II.
1 32 However, income from assets acquired with such assets or with
1 33 the proceeds from the sale of such assets shall not be
1 34 subtracted. This paragraph shall only apply to a taxpayer who
1 35 was the first recipient of such assets after recovery of the
2 1 assets and who is a victim of persecution for racial, ethnic,
2 2 or religious reasons by Nazi Germany or any other Axis regime
2 3 or is an heir of such victim.
2 4 Sec. 3. EFFECTIVE AND APPLICABILITY DATE. This Act, being
2 5 deemed of immediate importance, takes effect upon enactment.
2 6 Section 2 of this Act applies retroactively to January 1,
2 7 2000, for tax years beginning on or after that date.
2 8 EXPLANATION
2 9 This bill provides that certain payments made to and income
2 10 from lost property of a victim of racial, ethnic, or religious
2 11 persecution by any Axis power or the heirs of such victims are
2 12 not to be considered as income or assets in determining
2 13 eligibility for state or local governmental benefit or
2 14 entitlement programs. In addition, such payments and income
2 15 are not included in net income for purposes of the individual
2 16 income tax.
2 17 The bill takes effect upon enactment and the income tax
2 18 provision applies retroactively to January 1, 2000, for tax
2 19 years beginning on or after that date.
2 20 LSB 6124HH 78
2 21 mg/cls/14
Text: HF02337 Text: HF02339 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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