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
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