Text: S05605                            Text: S05607
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 5606

Amendment Text

PAG LIN
  1  1    Amend House File 2351, as passed by the House, as
  1  2 follows:
  1  3    #1.  Page 1, by inserting before line 1 the
  1  4 following:
  1  5    "Section 1.  Section 422.7, subsection 31, Code
  1  6 1999, is amended to read as follows:
  1  7    31.  For a person who is disabled, or is fifty-five
  1  8 years of age or older, or is the surviving spouse of
  1  9 an individual or a survivor having an insurable
  1 10 interest in an individual who would have qualified for
  1 11 the exemption under this subsection for the tax year,
  1 12 subtract, to the extent included, the total amount of
  1 13 a governmental or other pension or retirement pay,
  1 14 including, but not limited to, defined benefit or
  1 15 defined contribution plans, annuities, individual
  1 16 retirement accounts, plans maintained or contributed
  1 17 to by an employer, or maintained or contributed to by
  1 18 a self-employed person as an employer, and deferred
  1 19 compensation plans or any earnings attributable to the
  1 20 deferred compensation plans, up to a maximum of five
  1 21 six thousand dollars for a person, other than a
  1 22 husband or wife, who files a separate state income tax
  1 23 return and up to a maximum of ten twelve thousand
  1 24 dollars for a husband and wife who file a joint state
  1 25 income tax return.  However, a surviving spouse who is
  1 26 not disabled or fifty-five years of age or older can
  1 27 only exclude the amount of pension or retirement pay
  1 28 received as a result of the death of the other spouse.
  1 29 A husband and wife filing separate state income tax
  1 30 returns or separately on a combined state return are
  1 31 allowed a combined maximum exclusion under this
  1 32 subsection of up to ten twelve thousand dollars.  The
  1 33 ten twelve thousand dollar exclusion shall be
  1 34 allocated to the husband or wife in the proportion
  1 35 that each spouse's respective pension and retirement
  1 36 pay received bears to total combined pension and
  1 37 retirement pay received."
  1 38    #2.  Page 1, line 22, by inserting after the word
  1 39 "enactment." the following:
  1 40    "Section 1 of this Act, amending section 422.7
  1 41 applies retroactively to January 1, 2000, for tax
  1 42 years beginning on or after that date."
  1 43    #3.  Title page, line 1, by inserting after the
  1 44 word "to" the following:  "the pension exemption under
  1 45 the individual income tax and to".
  1 46    #4.  Title page, line 3, by inserting after the
  1 47 word "date" the following:  "and a retroactive
  1 48 applicability date provision".  
  1 49 
  1 50 
  2  1                               
  2  2 PATRICK J. DELUHERY
  2  3 MIKE CONNOLLY
  2  4 PATRICIA HARPER
  2  5 JOHNIE HAMMOND
  2  6 JOHN JUDGE
  2  7 BETTY A. SOUKUP
  2  8 EUGENE S. FRAISE
  2  9 MICHAEL E. GRONSTAL
  2 10 DENNIS H. BLACK
  2 11 ROBERT E. DVORSKY
  2 12 MARK SHEARER
  2 13 BILL FINK
  2 14 TOM FLYNN
  2 15 JOHN P. KIBBIE
  2 16 WALLY E. HORN
  2 17 STEVEN D. HANSEN
  2 18 MATT McCOY
  2 19 HF 2351.301 78
  2 20 mg/cf
     

Text: S05605                            Text: S05607
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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