House Journal: Page 1883: Friday, May 4, 2001
40 by 2001 Iowa Acts, House File 656, section 2, is
41 amended to read as follows:
42 4. "Manufactured or mobile home distributor" means
43 a person who sells or distributes manufactured or
44 mobile homes to manufactured or mobile home
45 retailers."
46 2. Page 20, by inserting after line 3, the
47 following:
48 "Sec. . Section 627.6, subsection 8, paragraph
49 f, subparagraph (3), Code 2001, as amended by 2001
50 Iowa Acts, House File 654, section 3, if enacted, is
Page 2
1 amended to read as follows:
2 (3) For simplified employee pension plans, self-
3 employed pension plans (also known as Keogh plans or
4 H.R. 10 plans), individual retirement accounts
5 established under section 408(a) of the Internal
6 Revenue Code, individual retirement annuities
7 established under section 408(b) of the Internal
8 Revenue Code, savings incentive matched plans for
9 employees, salary reduction simplified employee
10 pension plans (also known as SARSEPs), and similar
11 plans for retirement investments authorized in the
12 future under federal law, the exemption for
13 contributions shall not exceed, for each tax year of
14 contributions, the actual amount of the contribution
15 deducted for individual retirement accounts and
16 annuities established under section 408 of the
17 Internal Revenue Code or the maximum amount which
18 could be contributed and deducted in the tax year of
19 the contribution on the debtor's tax return or the
20 maximum amount which could be contributed to an
21 individual retirement account established under
22 section 408(a) of the Internal Revenue Code and
23 deducted in the tax year of the contribution,
24 whichever is less. The exemption for accumulated
25 earnings and market increases in value of plans under
26 this subparagraph shall be limited to an amount
27 determined by multiplying all the accumulated earnings
28 and market increases in value by a fraction, the
29 numerator of which is the total amount of exempt
30 contributions as determined by this subparagraph, and
31 the denominator of which is the total of exempt and
32 nonexempt contributions to the plan."
33 3. Page 21, line 5, by inserting after the word
34 "enacted," the following: "and Code section 322B.2,".
35 4. By renumbering as necessary.
Amendment H-2001 was adopted.
© 2001 Cornell College and
League of Women Voters of Iowa
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