House Journal: Page 229: Tuesday, January 30, 2001
Page 2
1 pay received bears to total combined pension and
2 retirement pay received.
3 b. Subtract, to the extent included, the amount of
4 additional social security benefits taxable under the
5 Internal Revenue Code for tax years beginning on or
6 after January 1, 1994, but before January 1, 2006.
7 The amount of social security benefits taxable as
8 provided in section 86 of the Internal Revenue Code,
9 as amended up to and including January 1, 1993,
10 continues to apply for state income tax purposes for
11 tax years beginning on or after January 1, 1994, but
12 before January 1, 2006.
13 c. Subtract, to the extent included after the
14 subtraction in paragraph "b", the following:
15 (1) For tax years beginning in the 2004 calendar
16 year, one-third of taxable social security benefits
17 received.
18 (2) For tax years beginning in the 2005 calendar
19 year, two-thirds of taxable social security benefits
20 received.
21 d. Married taxpayers, who file a joint federal
22 income tax return and who elect to file separate
23 returns or who elect separate filing on a combined
24 return for state income tax purposes, shall allocate
25 between the spouses the amount of benefits subtracted
26 under paragraphs "b" and "c" from net income in the
27 ratio of the social security benefits received by each
28 spouse to the total of these benefits received by both
29 spouses.
30 e. Subtract, to the extent included, the amount of
31 social security benefits taxable under section 86 of
32 the Internal Revenue Code for tax years beginning on
33 or after January 1, 2006.
34 Sec. . Section 422.7, subsection 31, Code 2001,
35 is amended by striking the subsection.""
36 2. Page 1, line 22, by striking the words and
37 figures "2002, and December 31, 2002" and inserting
38 the following: "2005, and December 31, 2005".
39 3. Page 1, line 24, by striking the words and
40 figures "2002, and December 31, 2002" and inserting
41 the following: "2005, and December 31, 2005".
42 4. Page 1, line 29, by striking the words and
43 figures "2003, and December 31, 2003" and inserting
44 the following: "2006, and December 31, 2006".
45 5. Page 1, line 31, by striking the words and
46 figures "2003, and December 31, 2003" and inserting
47 the following: "2006, and December 31, 2006".
48 6. Page 1, line 36, by striking the words and
49 figures "2004, and December 31, 2004" and inserting
50 the following: "2007, and December 31, 2007".
© 2001 Cornell College and
League of Women Voters of Iowa
Comments about this site or page?
hjourn@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Jan 31 13:35:00 CST 2001
URL: /DOCS/GA/79GA/Session.1/HJournal/00200/00229.html
jhf