House Journal: Page 228: Tuesday, January 30, 2001
H-1033
1 Amend the Senate amendment, H-1029, to House File 1
2 as follows:
3 1. Page 1, by inserting after line 2 the
4 following:
5 " . Page 1, by inserting before line 1 the
6 following:
7 "Section 1. Section 422.7, subsection 13, Code
8 2001, is amended by striking the subsection and
9 inserting in lieu thereof the following:
10 13. a. For a person who is disabled, or is fifty-
11 five years of age or older, or is the surviving spouse
12 of an individual or a survivor having an insurable
13 interest in an individual who would have qualified for
14 the exemption under this paragraph for the tax year,
15 subtract, to the extent included, the total amount of
16 a governmental or other pension or retirement pay,
17 including, but not limited to, defined benefit or
18 defined contribution plans, annuities, individual
19 retirement accounts, plans maintained or contributed
20 to by an employer, or maintained or contributed to by
21 a self-employed person as an employer, and deferred
22 compensation plans or any earnings attributable to the
23 deferred compensation plans, up to a maximum of eight
24 thousand five hundred dollars for tax years beginning
25 in the 2001 calendar year, twelve thousand dollars for
26 tax years beginning in the 2002 calendar year, and the
27 total amount of pension included for tax years
28 beginning on or after January 1, 2003, for a person,
29 other than a husband or wife, who files a separate
30 state income tax return and up to a maximum of
31 seventeen thousand dollars for tax years beginning in
32 the 2001 calendar year, twenty-four thousand dollars
33 for tax years beginning in the 2002 calendar year, and
34 the total amount of pension included for tax years
35 beginning on or after January 1, 2003, for a husband
36 and wife who file a joint state income tax return.
37 However, a surviving spouse who is not disabled or
38 fifty-five years of age or older can only exclude the
39 amount of pension or retirement pay received as a
40 result of the death of the other spouse. A husband
41 and wife filing separate state income tax returns or
42 separately on a combined state return are allowed a
43 combined maximum exclusion under this paragraph of up
44 to seventeen thousand dollars for tax years beginning
45 in the 2001 calendar year, and twenty-four thousand
46 dollars for tax years beginning in the 2002 calendar
47 year. The seventeen thousand dollar or twenty-four
48 thousand dollar exclusion, as applicable, shall be
49 allocated to the husband or wife in the proportion
50 that each spouse's respective pension and retirement
© 2001 Cornell College and
League of Women Voters of Iowa
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