Text: SF02030                           Text: SF02032
Text: SF02000 - SF02099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

Senate File 2031

Partial Bill History

Bill Text

  1  1    Section 1.  Section 425.17, subsection 7, Code Supplement
  1  2 2001, is amended to read as follows:
  1  3    7.  "Income" means the sum of Iowa net income as defined in
  1  4 section 422.7, plus all of the following to the extent not
  1  5 already included in Iowa net income:  capital gains, alimony,
  1  6 child support money, cash public assistance and relief, except
  1  7 property tax relief granted under this division, amount of in-
  1  8 kind assistance for housing expenses, the gross amount of any
  1  9 pension or annuity, including but not limited to railroad
  1 10 retirement benefits, payments received under the federal
  1 11 Social Security Act, except child insurance benefits received
  1 12 by a member of the claimant's household, and all military
  1 13 retirement and veterans' disability pensions, interest
  1 14 received from the state or federal government or any of its
  1 15 instrumentalities, workers' compensation and the gross amount
  1 16 of disability income or "loss of time" insurance.  "Income"
  1 17 does not include gifts from nongovernmental sources, or
  1 18 surplus foods or other relief in kind supplied by a
  1 19 governmental agency.  In determining income, net operating
  1 20 losses and net capital losses shall not be considered.  In
  1 21 determining income, the total amount of unreimbursed payments
  1 22 made for prescription drugs and for health insurance premiums
  1 23 for members of the claimant's household shall be deducted.
  1 24 The director of revenue and finance shall establish the
  1 25 procedure for documenting the unreimbursed payments for
  1 26 prescription drugs and for health insurance premiums.
  1 27    Sec. 2.  APPLICABILITY.  This Act applies to claims for
  1 28 credit for property taxes due, claims for reimbursement for
  1 29 rent constituting property taxes paid, and claims for credit
  1 30 for manufactured or mobile home taxes due filed on or after
  1 31 January 1, 2003.  
  1 32                           EXPLANATION
  1 33    This bill provides that in determining the household income
  1 34 for purposes of the low-income elderly and disabled property
  1 35 tax credit or reimbursement of rent constituting property tax
  2  1 paid, the unreimbursed amount of prescription drugs and health
  2  2 insurance premiums paid for members of the claimant's
  2  3 household can be deducted.
  2  4    The bill applies to claims filed on or after January 1,
  2  5 2003.  
  2  6 LSB 5005SS 79
  2  7 mg/pj/5

Text: SF02030                           Text: SF02032
Text: SF02000 - SF02099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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