Text: SF00506 Text: SF00508 Text: SF00500 - SF00599 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 422.12A INCOME TAX CHECKOFF FOR 1 2 THE ARTS. 1 3 1. A person who files an individual or a joint income tax 1 4 return with the department of revenue and finance under 1 5 section 422.13 may designate one dollar or more to be paid to 1 6 the Iowa arts checkoff fund as created in the arts division of 1 7 the department of cultural affairs. If the refund due on the 1 8 return or the payment remitted with the return is insufficient 1 9 to pay the amount designated by the taxpayer to the Iowa arts 1 10 checkoff fund, the amount designated shall be reduced to the 1 11 remaining amount of the refund or the remaining amount 1 12 remitted with the return. The designation of a contribution 1 13 to the Iowa arts checkoff fund is irrevocable. 1 14 2. The director of revenue and finance shall draft the 1 15 income tax form to allow for the designation of contributions 1 16 to the Iowa arts checkoff fund on the tax return. The 1 17 department of revenue and finance, on or before January 31, 1 18 shall transfer the total amount designated on the tax form due 1 19 in the preceding year to the Iowa arts checkoff fund. 1 20 However, before a checkoff pursuant to this section shall be 1 21 permitted, all liabilities on the books of the department of 1 22 revenue and finance and accounts identified as owing under 1 23 section 421.17 and the political contribution allowed under 1 24 section 56.18 shall be satisfied. 1 25 3. The department of cultural affairs shall create the 1 26 Iowa arts checkoff fund in the arts division of the 1 27 department. Moneys in the fund are appropriated to the arts 1 28 division of the department for purposes of supporting arts 1 29 division activities and programming. 1 30 4. The department shall adopt rules to administer this 1 31 section. 1 32 5. The limitation on income tax return checkoffs specified 1 33 in section 422.12E, does not apply to this checkoff. 1 34 Sec. 2. Section 422.12E, Code 2001, is amended to read as 1 35 follows: 2 1 422.12E INCOME TAX RETURN CHECKOFFS LIMITED. 2 2 For tax years beginning on or after January 1, 1995, there 2 3 shall be allowed no more than three income tax return 2 4 checkoffs on each income tax return. When the same three 2 5 income tax return checkoffs have been provided on the income 2 6 tax return for three consecutive years, the checkoff for which 2 7 the least amount has been contributed, in the aggregate for 2 8 the first two tax years and through March 15 of the third tax 2 9 year,shall beis repealed. This section does not apply to 2 10 the income tax returncheckoffcheckoffs provided insection2 11 sections 56.18 and 422.12A. 2 12 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies 2 13 retroactively to January 1, 2001, for tax years beginning on 2 14 or after that date. 2 15 EXPLANATION 2 16 This bill provides that taxpayers filing individual income 2 17 tax returns will be allowed to designate $1 or more on the 2 18 return to be paid to the Iowa arts checkoff fund. The bill 2 19 requires the department of revenue and finance to annually 2 20 remit moneys collected from the checkoff to a fund created in 2 21 the arts division of the department of cultural affairs, which 2 22 moneys are appropriated for arts division activities and 2 23 programming. 2 24 The bill also provides that the limitation on the number of 2 25 checkoffs allowed on the Iowa individual income tax return 2 26 does not apply to the arts checkoff. 2 27 The bill applies retroactively to January 1, 2001, for tax 2 28 years beginning on or after that date. 2 29 LSB 2230SS 79 2 30 sc/pj/5
Text: SF00506 Text: SF00508 Text: SF00500 - SF00599 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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