Text: H08011 Text: H08013 Text: H08000 - H08099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2078, as amended, passed, and 1 2 reprinted by the House as follows: 1 3 #1. Page 8, lines 4 and 5, by striking the words 1 4 "director of the department", and inserting the 1 5 following: "incorporators and appointment committee". 1 6 #2. Page 11, lines 2 and 3, by striking the words 1 7 "shall not invest more than", and inserting the 1 8 following: "shall invest". 1 9 #3. Page 15, by inserting after line 13 the 1 10 following: 1 11 "Sec. 501. Section 422.8, subsection 2, paragraph 1 12 b, subparagraph (2), Code 2001, is amended to read as 1 13 follows: 1 14 (2) Any cash or the value of property 1 15 distributions which are made only to the extent that 1 16 they are paid from income upon which Iowa income tax 1 17 has not been paid, as determined under rules of the 1 18 director, reduced byfifty percent ofthe amount of 1 19 any of these distributions that are made to enable the 1 20 shareholder to pay federal income tax on items of 1 21 income, loss, and expenses from the corporation. 1 22 Sec. 502. APPLICABILITY PROVISION. Section 501 of 1 23 this Act applies retroactively to January 1, 2002, for 1 24 tax years beginning on or after that date." 1 25 #4. Title page, line 1, by inserting after the 1 26 words "An Act" the following: "relating to economic 1 27 stimulus measures for businesses by". 1 28 #5. Title page, line 4, by inserting after the 1 29 word "funds" the following: "; establishing a small 1 30 business growth initiative by adjusting the allocation 1 31 to Iowa of income earned by an S corporation for 1 32 purposes of the state individual income tax; and 1 33 including a retroactive applicability date provision". 1 34 #6. By renumbering as necessary. 1 35 HF 2078S 1 36 tm/cc/26
Text: H08011 Text: H08013 Text: H08000 - H08099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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