Text: H01032 Text: H01034 Text: H01000 - H01099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend the Senate amendment, H-1029, to House File 1 1 2 as follows: 1 3 #1. Page 1, by inserting after line 2 the 1 4 following: 1 5 "# . Page 1, by inserting before line 1 the 1 6 following: 1 7 "Section 1. Section 422.7, subsection 13, Code 1 8 2001, is amended by striking the subsection and 1 9 inserting in lieu thereof the following: 1 10 13. a. For a person who is disabled, or is fifty- 1 11 five years of age or older, or is the surviving spouse 1 12 of an individual or a survivor having an insurable 1 13 interest in an individual who would have qualified for 1 14 the exemption under this paragraph for the tax year, 1 15 subtract, to the extent included, the total amount of 1 16 a governmental or other pension or retirement pay, 1 17 including, but not limited to, defined benefit or 1 18 defined contribution plans, annuities, individual 1 19 retirement accounts, plans maintained or contributed 1 20 to by an employer, or maintained or contributed to by 1 21 a self-employed person as an employer, and deferred 1 22 compensation plans or any earnings attributable to the 1 23 deferred compensation plans, up to a maximum of eight 1 24 thousand five hundred dollars for tax years beginning 1 25 in the 2001 calendar year, twelve thousand dollars for 1 26 tax years beginning in the 2002 calendar year, and the 1 27 total amount of pension included for tax years 1 28 beginning on or after January 1, 2003, for a person, 1 29 other than a husband or wife, who files a separate 1 30 state income tax return and up to a maximum of 1 31 seventeen thousand dollars for tax years beginning in 1 32 the 2001 calendar year, twenty-four thousand dollars 1 33 for tax years beginning in the 2002 calendar year, and 1 34 the total amount of pension included for tax years 1 35 beginning on or after January 1, 2003, for a husband 1 36 and wife who file a joint state income tax return. 1 37 However, a surviving spouse who is not disabled or 1 38 fifty-five years of age or older can only exclude the 1 39 amount of pension or retirement pay received as a 1 40 result of the death of the other spouse. A husband 1 41 and wife filing separate state income tax returns or 1 42 separately on a combined state return are allowed a 1 43 combined maximum exclusion under this paragraph of up 1 44 to seventeen thousand dollars for tax years beginning 1 45 in the 2001 calendar year, and twenty-four thousand 1 46 dollars for tax years beginning in the 2002 calendar 1 47 year. The seventeen thousand dollar or twenty-four 1 48 thousand dollar exclusion, as applicable, shall be 1 49 allocated to the husband or wife in the proportion 1 50 that each spouse's respective pension and retirement 2 1 pay received bears to total combined pension and 2 2 retirement pay received. 2 3 b. Subtract, to the extent included, the amount of 2 4 additional social security benefits taxable under the 2 5 Internal Revenue Code for tax years beginning on or 2 6 after January 1, 1994, but before January 1, 2006. 2 7 The amount of social security benefits taxable as 2 8 provided in section 86 of the Internal Revenue Code, 2 9 as amended up to and including January 1, 1993, 2 10 continues to apply for state income tax purposes for 2 11 tax years beginning on or after January 1, 1994, but 2 12 before January 1, 2006. 2 13 c. Subtract, to the extent included after the 2 14 subtraction in paragraph "b", the following: 2 15 (1) For tax years beginning in the 2004 calendar 2 16 year, one-third of taxable social security benefits 2 17 received. 2 18 (2) For tax years beginning in the 2005 calendar 2 19 year, two-thirds of taxable social security benefits 2 20 received. 2 21 d. Married taxpayers, who file a joint federal 2 22 income tax return and who elect to file separate 2 23 returns or who elect separate filing on a combined 2 24 return for state income tax purposes, shall allocate 2 25 between the spouses the amount of benefits subtracted 2 26 under paragraphs "b" and "c" from net income in the 2 27 ratio of the social security benefits received by each 2 28 spouse to the total of these benefits received by both 2 29 spouses. 2 30 e. Subtract, to the extent included, the amount of 2 31 social security benefits taxable under section 86 of 2 32 the Internal Revenue Code for tax years beginning on 2 33 or after January 1, 2006. 2 34 Sec. . Section 422.7, subsection 31, Code 2001, 2 35 is amended by striking the subsection."" 2 36 #2. Page 1, line 22, by striking the words and 2 37 figures "2002, and December 31, 2002" and inserting 2 38 the following: "2005, and December 31, 2005". 2 39 #3. Page 1, line 24, by striking the words and 2 40 figures "2002, and December 31, 2002" and inserting 2 41 the following: "2005, and December 31, 2005". 2 42 #4. Page 1, line 29, by striking the words and 2 43 figures "2003, and December 31, 2003" and inserting 2 44 the following: "2006, and December 31, 2006". 2 45 #5. Page 1, line 31, by striking the words and 2 46 figures "2003, and December 31, 2003" and inserting 2 47 the following: "2006, and December 31, 2006". 2 48 #6. Page 1, line 36, by striking the words and 2 49 figures "2004, and December 31, 2004" and inserting 2 50 the following: "2007, and December 31, 2007". 3 1 #7. Page 1, line 38, by striking the words and 3 2 figures "2004, and December 31, 2004" and inserting 3 3 the following: "2007, and December 31, 2007". 3 4 #8. Page 1, line 43, by striking the words and 3 5 figures "2005, and December 31, 2005" and inserting 3 6 the following: "2008, and December 31, 2008". 3 7 #9. Page 1, line 45, by striking the words and 3 8 figures "2005, and December 31, 2005" and inserting 3 9 the following: "2008, and December 31, 2008". 3 10 #10. Page 1, line 50, by striking the figure 3 11 "2006" and inserting the following: "2009". 3 12 #11. Page 2, line 1, by striking the figure "2006" 3 13 and inserting the following: "2009". 3 14 #12. Page 2, by inserting after line 5 the 3 15 following: 3 16 "# . Page 1, line 33, by inserting after the 3 17 word "enactment." the following: "The sections of 3 18 this Act amending Code section 422.7, subsections 13 3 19 and 31, apply retroactively to January 1, 2001, for 3 20 tax years beginning on or after that date."" 3 21 #13. Page 2, by striking lines 6 and 7 and 3 22 inserting the following: 3 23 "# . Title page, by striking lines 1 through 4 3 24 and inserting the following: "An Act relating to 3 25 state taxes imposed on retirement benefits under the 3 26 individual income tax and imposed on the gross 3 27 receipts from the sale, furnishing, or service of 3 28 metered gas and electricity and of fuel used in 3 29 residential-type dwellings and including effective and 3 30 retroactive applicability date provisions."" 3 31 3 32 3 33 3 34 MILLAGE of Scott 3 35 HF 1.307 79 3 36 mg/cf
Text: H01032 Text: H01034 Text: H01000 - H01099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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