House Journal: Page 1683: Thursday, April 20, 2000
21 under section 422.25. In lieu of claiming a refund, a
22 taxpayer may elect to have the overpayment shown on
23 the taxpayer's final, completed return credited to the
24 tax liability for the following tax year. If the
25 small business elects to take the assistive device tax
26 credit, the small business shall not deduct for Iowa
27 tax purposes any amount of the cost of an assistive
28 device or workplace modifications which is deductible
29 for federal tax purposes.
30 2. To receive the assistive device tax credit, the
31 eligible small business must submit an application to
32 the department of economic development. If the
33 taxpayer meets the criteria for eligibility, the
34 department of economic development shall issue to the
35 taxpayer a certification of entitlement for the
36 assistive device tax credit. However, the combined
37 amount of tax credits that may be approved for a
38 fiscal year under this section and section 422.33,
39 subsection 9, shall not exceed five hundred thousand
40 dollars. Tax credit certificates shall be issued on
41 an earliest filed basis. The certification shall
42 contain the taxpayer's name, address, tax
43 identification number, the amount of the credit, and
44 tax year for which the certificate applies. The
45 taxpayer must file the tax credit certificate with the
46 taxpayer's individual income tax return in order to
47 claim the tax credit. The departments of economic
48 development and revenue and finance shall each adopt
49 rules to jointly administer this section and shall
50 provide by rule for the method to be used to determine
Page 2
1 for which fiscal year the tax credits are approved.
2 3. An individual may claim an assistive device tax
3 credit allowed a partnership, limited liability
4 company, S corporation, estate, or trust electing to
5 have the income taxed directly to the individual. The
6 amount claimed by the individual shall be based upon
7 the pro rata share of the individual's earnings of the
8 partnership, limited liability company, S corporation,
9 estate, or trust.
10 4. For purposes of this section:
11 a. "Assistive device" means any item, piece of
12 equipment, or product system which is used to
13 increase, maintain, or improve the functional
14 capabilities of an individual with a disability in the
15 workplace or on the job. "Assistive device" does not
16 mean any medical device, surgical device, or organ
17 implanted or transplanted into or attached directly to
18 an individual. "Assistive device" does not include
19 any device for which a certificate of title is issued
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League of Women Voters of Iowa
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