House Journal: Page 1674: Thursday, April 20, 2000
Millage of Scott, Raecker of Polk, Shey of Linn, Sukup of Franklin,
Sunderbruch of Scott, Arnold of Lucas, Barry of Harrison, Blodgett of
Cerro Gordo, Boal of Polk, Boddicker of Cedar, Boggess of Page,
Bradley of Clinton, Brauns of Muscatine, Brunkhorst of Bremer,
Carroll of Poweshiek, Cormack of Webster, Dix of Butler, Dolecheck
of Ringgold, Eddie of Buena Vista, Gipp of Winneshiek, Grundberg of
Polk, Hahn of Muscatine, Hansen of Pottawattamie, Heaton of Henry,
Hoffman of Crawford, Holmes of Scott, Horbach of Tama, Huseman of
Cherokee, Jacobs of Polk, Johnson of Osceola, Kettering of Sac,
Klemme of Plymouth, Larson of Linn, Metcalf of Polk, Rants of
Woodbury, Rayhons of Hancock, Siegrist of Pottawattamie, Teig of
Hamilton, Thomson of Linn, Tyrrell of Iowa, Van Engelenhoven of
Mahaska, Weidman of Cass and Welter of Jones, from the floor as
follows:
H-9019
1 Amend House File 2560 as follows:
2 1. Page 1, by inserting before line 1 the
3 following:
4 "Section 1. Section 15.335, Code Supplement 1999,
5 is amended to read as follows:
6 15.335 RESEARCH ACTIVITIES CREDIT.
7 1. An eligible business may claim a corporate tax
8 credit for increasing research activities in this
9 state during the period the eligible business is
10 participating in the program.
11 a. The credit equals six and one-half percent of
12 the state's apportioned share of the qualifying
13 expenditures for increasing research activities. the
14 sum of the following:
15 (1) Six and one-half percent of the excess of
16 qualified research expenses during the tax year over
17 the base amount for the tax year based upon the
18 state's apportioned share of the qualifying
19 expenditures for increasing research activities.
20 (2) Six and one-half percent of the basic research
21 payments determined under section 41(e)(1)(A) of the
22 Internal Revenue Code during the tax year based upon
23 the state's apportioned share of the qualifying
24 expenditures for increasing research activities.
25 The state's apportioned share of the qualifying
26 expenditures for increasing research activities is a
27 percent equal to the ratio of qualified research
28 expenditures in this state to total qualified research
29 expenditures.
30 b. In lieu of the credit amount computed in
31 paragraph "a", subparagraph (1), an eligible business
© 2000 Cornell College and
League of Women Voters of Iowa
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