Text: H08458 Text: H08460 Text: H08400 - H08499 Text: H Index Bills and Amendments: General Index Bill History: General Index
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 exemption from the
1 15 individual income tax of social security benefits as
1 16 provided in section 210 of this Act. Transfers under
1 17 this subsection shall be made quarterly."
1 18 #3. Page 7, by inserting after line 37 the
1 19 following:
1 20 "Sec. 210. Section 422.7, subsection 13, Code
1 21 Supplement 2001, is amended to read as follows:
1 22 13. Subtract, to the extent included, the amount
1 23 of additional social security benefits taxable under
1 24 the Internal Revenue Code for tax years beginning on
1 25 or after January 1, 1994, but before January 1, 2003.
1 26 The amount of social security benefits taxable as
1 27 provided in section 86 of the Internal Revenue Code,
1 28 as amended up to and including January 1, 1993,
1 29 continues to apply for state income tax purposes for
1 30 tax years beginning on or after January 1, 1994, but
1 31 before January 1, 2003. Married taxpayers, who file a
1 32 joint federal income tax return and who elect to file
1 33 separate returns or who elect separate filing on a
1 34 combined return for state income tax purposes, shall
1 35 allocate between the spouses the amount of benefits
1 36 subtracted from net income in the ratio of the social
1 37 security benefits received by each spouse to the total
1 38 of these benefits received by both spouses.
1 39 Subtract, to the extent included, the amount of
1 40 social security benefits taxable under the Internal
1 41 Revenue Code for tax years beginning on or after
1 42 January 1, 2003."
1 43 #4. Page 12, by inserting after line 49 the
1 44 following:
1 45 "3. Section 210 of this Act, amending section
1 46 422.7, subsection 13, takes effect January 1, 2003,
1 47 for tax years beginning on or after that date."
1 48 #5. Page 13, line 4, by inserting after the word
1 49 "electorate," the following: "exempting social
1 50 security benefits from the individual income tax,".
2 1
2 2
2 3
2 4 VAN FOSSEN of Scott
2 5
2 6
2 7
2 8 SHEY of Linn
2 9
2 10
2 11
2 12 SIEVERS of Scott
2 13
2 14
2 15
2 16 SUKUP of Franklin
2 17
2 18
2 19
2 20 MILLAGE of Scott
2 21
2 22
2 23
2 24 HOVERSTEN of Woodbury
2 25
2 26
2 27
2 28 HUSER of Polk
2 29
2 30
2 31
2 32 CHIODO of Polk
2 33 SF 2228.8
2 34 mg/es/25
Text: H08458 Text: H08460 Text: H08400 - H08499 Text: H Index Bills and Amendments: General Index Bill History: General Index
© 2002 Cornell College and League of Women Voters of Iowa
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