Text: H08456                            Text: H08458
Text: H08400 - H08499                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 8457

Amendment Text

PAG LIN
  1  1    Amend the amendment, H-8422, to Senate File 2228,
  1  2 as passed by the Senate, as follows:
  1  3    #1.  Page 1, line 14, by inserting after the word
  1  4 "fund" the following:  "shall be transferred as
  1  5 provided in subsection 3A and after such transfer the
  1  6 remaining moneys".
  1  7    #2.  Page 3, by inserting after line 48 the
  1  8 following:
  1  9    "3A.  There shall be transferred from the moneys
  1 10 credited in a fiscal year to the school district sales
  1 11 tax fund to the general fund of the state the amount,
  1 12 as estimated by the legislative fiscal bureau, of lost
  1 13 revenue to the general fund of the state for that
  1 14 fiscal year as a result of the phaseout of the
  1 15 insurance premiums tax as provided in sections 230,
  1 16 231, 232, and 233 of this Act.  Transfers under this
  1 17 subsection shall be made quarterly."
  1 18    #3.  Page 7, by inserting after line 37 the
  1 19 following:
  1 20    "Sec. 230.  Section 432.1, subsection 1, paragraph
  1 21 a, Code 2001, is amended to read as follows:
  1 22    a.  Two percent The applicable percent, as provided
  1 23 in subsection 2A, of the gross amount of premiums
  1 24 received during the preceding calendar year by every
  1 25 life insurance company or association, not including
  1 26 fraternal beneficiary associations, or the gross
  1 27 payments or deposits collected from holders of
  1 28 fraternal beneficiary association certificates, on
  1 29 contracts of insurance covering risks resident in this
  1 30 state during the preceding year, including contracts
  1 31 for group insurance and annuities and without
  1 32 including or deducting any amounts received or paid
  1 33 for reinsurance.
  1 34    Sec. 231.  Section 432.1, subsection 2, Code 2001,
  1 35 is amended to read as follows:
  1 36    2.  Two percent The applicable percent, as provided
  1 37 in subsection 2A, of the gross amount of premiums,
  1 38 assessments, and fees received during the preceding
  1 39 calendar year by every company or association other
  1 40 than life on contracts of insurance other than life
  1 41 for business done in this state, including all
  1 42 insurance upon property situated in this state, after
  1 43 deducting the amounts returned upon canceled policies,
  1 44 certificates and rejected applications but not
  1 45 including the gross premiums, assessments and fees in
  1 46 connection with ocean marine insurance authorized in
  1 47 section 515.48.
  1 48    Sec. 232.  Section 432.1, Code 2001, is amended by
  1 49 adding the following new subsection:
  1 50    NEW SUBSECTION.  2A.  The "applicable percent" for
  2  1 purposes of subsections 1 and 2 and section 432.2 is
  2  2 the following:
  2  3    a.  For calendar years beginning before the 2003
  2  4 calendar year, two percent.
  2  5    b.  For the 2003 calendar year, one and one-half
  2  6 percent.
  2  7    c.  For the 2004 calendar year, one percent.
  2  8    d.  For the 2005 calendar year, one-half of one
  2  9 percent.
  2 10    e.  For the 2006 and subsequent calendar years,
  2 11 zero percent.
  2 12    Sec. 233.  Section 432.2, Code 2001, is amended to
  2 13 read as follows:
  2 14    432.2  MUTUAL SERVICE CORPORATIONS.
  2 15    Notwithstanding section 432.1, a hospital service
  2 16 corporation, medical service corporation,
  2 17 pharmaceutical service corporation, optometric service
  2 18 corporation and any other service corporation
  2 19 operating under chapter 514 shall pay as taxes to the
  2 20 director of revenue and finance an amount equal to two
  2 21 percent the applicable percent, as provided in section
  2 22 432.1, subsection 2A, of the gross amount of payments
  2 23 received during the preceding calendar year for
  2 24 subscriber contracts covering residents in this state
  2 25 after deducting the amounts returned to subscribers
  2 26 upon canceled subscriber contracts and rejected
  2 27 applications.  Section 432.1, subsections 3 and 4,
  2 28 apply to the tax imposed by this section."
  2 29    #4.  Page 13, line 4, by inserting after the word
  2 30 "electorate," the following:  "phasing out the
  2 31 insurance premiums tax,".  
  2 32 
  2 33 
  2 34                               
  2 35 VAN FOSSEN of Scott
  2 36 
  2 37 
  2 38                               
  2 39 SHEY of Linn 
  2 40 
  2 41 
  2 42                               
  2 43 HOVERSTEN of Woodbury 
  2 44 
  2 45 
  2 46                               
  2 47 CHIODO of Polk 
  2 48 SF 2228.4
  2 49 mg/es/25

Text: H08456                            Text: H08458
Text: H08400 - H08499                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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