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
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Mon Aug 28 13:36:55 CDT 2000
URL: /DOCS/GA/78GA/Legislation/HF/02500/HF02542/000424.html
jhf