Text: H01569 Text: H01571 Text: H01500 - H01599 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 701 as follows:
1 2 #1. Page 3, by inserting after line 1 the
1 3 following:
1 4 "Sec. . Section 422.9, subsection 1, Code 2003,
1 5 is amended to read as follows:
1 6 1. An optional standard deduction, after deduction
1 7 of federal income tax, equal to one thousand two
1 8 hundred thirty dollars for a married person who files
1 9 separately or a single person or equal to three
1 10 thousand thirty dollars for a husband and wife who
1 11 file a joint return, a surviving spouse, or an
1 12 unmarried head of household. The optional standard
1 13 deduction shall not exceed the amount remaining after
1 14 deduction of the federal income tax. The amount of
1 15 federal income taxes deducted shall not exceed the
1 16 amount as computed under subsection 2, paragraph "b".
1 17 Sec. . Section 422.9, subsection 2, paragraph
1 18 b, Code 2003, is amended by striking the paragraph and
1 19 inserting in lieu thereof the following:
1 20 b. Add the amount of federal income taxes paid in
1 21 a tax year beginning on or after January 1 of the
1 22 calendar year in which this Act takes effect, but
1 23 before January 1 three years following, to the extent
1 24 the payment is for a tax year beginning prior to
1 25 January 1 of the calendar year in which this Act takes
1 26 effect. Subtract the amount of federal income tax
1 27 refunds received in a tax year beginning on or after
1 28 January 1 of the calendar year in which this Act takes
1 29 effect, but before January 1 three years following, to
1 30 the extent that the federal income tax was deducted on
1 31 an Iowa individual income tax return for a tax year
1 32 beginning prior to January 1 of the calendar year in
1 33 which this Act takes effect."
1 34 #2. Title page, line 2, by inserting after the
1 35 word "brackets" the following: ", eliminating the
1 36 deduction for federal income taxes,".
1 37
1 38
1 39
1 40 SHOULTZ of Black Hawk
1 41 HF 701.301 80
1 42 mg/cf
Text: H01569 Text: H01571 Text: H01500 - H01599 Text: H Index Bills and Amendments: General Index Bill History: General Index
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