Text: HF02541 Text: HF02543 Text: HF02500 - HF02599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 HOUSE FILE 2542
1 2
1 3 AN ACT
1 4 RELATING TO DISTRIBUTIONS MADE TO AND INCOME FROM MISSING
1 5 PROPERTY OF CERTAIN PERSECUTED VICTIMS OF WORLD WAR II
1 6 AND THEIR HEIRS, INCLUDING EFFECTIVE AND RETROACTIVE
1 7 APPLICABILITY DATES.
1 8
1 9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 10
1 11 Section 1. NEW SECTION. 217.39 PERSECUTED VICTIMS OF
1 12 WORLD WAR II AND THEIR HEIRS.
1 13 Notwithstanding any other law of this state, payments paid
1 14 to and income from lost property of a victim of persecution
1 15 for racial, ethnic, or religious reasons by Nazi Germany or
1 16 any other Axis regime or as an heir of such victim which is
1 17 exempt from state income tax as provided in section 422.7,
1 18 subsection 35, shall not be considered as income or an asset
1 19 for determining the eligibility for state or local government
1 20 benefit or entitlement programs. The proceeds are not subject
1 21 to recoupment for the receipt of governmental benefits or
1 22 entitlements and liens, except liens for child support, are
1 23 not enforceable against these sums for any reason.
1 24 Sec. 2. Section 422.7, Code 1999, is amended by adding the
1 25 following new subsection:
1 26 NEW SUBSECTION. 35. Subtract, to the extent included, the
1 27 following:
1 28 a. Payments made to the taxpayer because of his or her
1 29 status as a victim of persecution for racial, ethnic, or
1 30 religious reasons by Nazi Germany or any other Axis regime or
1 31 as an heir of such victim.
1 32 b. Items of income attributable to, derived from, or in
1 33 any way related to assets stolen from, hidden from, or
1 34 otherwise lost to a victim of persecution for racial, ethnic,
1 35 or religious reasons by Nazi Germany or any other Axis regime
2 1 immediately prior to, during, and immediately after World War
2 2 II, including, but not limited to, interest on the proceeds
2 3 receivable as insurance under policies issued to a victim of
2 4 persecution for racial, ethnic, or religious reasons by Nazi
2 5 Germany or any other Axis regime by European insurance
2 6 companies immediately prior to and during World War II.
2 7 However, income from assets acquired with such assets or with
2 8 the proceeds from the sale of such assets shall not be
2 9 subtracted. This paragraph shall only apply to a taxpayer who
2 10 was the first recipient of such assets after recovery of the
2 11 assets and who is a victim of persecution for racial, ethnic,
2 12 or religious reasons by Nazi Germany or any other Axis regime
2 13 or is an heir of such victim.
2 14 Sec. 3. EFFECTIVE AND APPLICABILITY DATE. This Act, being
2 15 deemed of immediate importance, takes effect upon enactment.
2 16 Section 2 of this Act applies retroactively to January 1,
2 17 2000, for tax years beginning on or after that date.
2 18
2 19
2 20
2 21 BRENT SIEGRIST
2 22 Speaker of the House
2 23
2 24
2 25
2 26 MARY E. KRAMER
2 27 President of the Senate
2 28
2 29 I hereby certify that this bill originated in the House and
2 30 is known as House File 2542, Seventy-eighth General Assembly.
2 31
2 32
2 33
2 34 ELIZABETH ISAACSON
2 35 Chief Clerk of the House
3 1 Approved , 2000
3 2
3 3
3 4
3 5 THOMAS J. VILSACK
3 6 Governor
3 7
Text: HF02541 Text: HF02543 Text: HF02500 - HF02599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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