Text: HF00360 Text: HF00362 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.12E, Code 2003, is amended to read 1 2 as follows: 1 3 422.12E INCOME TAX RETURN CHECKOFFS LIMITED. 1 4 For tax years beginning on or after January 1, 1995, there 1 5 shall be allowed no more than three income tax return 1 6 checkoffs on each income tax return. When the same three 1 7 income tax return checkoffs have been provided on the income 1 8 tax return for three consecutive years, the checkoff for which 1 9 the least amount has been contributed, in the aggregate for 1 10 the first two tax years and through March 15 of the third tax 1 11 year,shall beis repealed. This section does not apply to 1 12 the income tax return checkoff provided in section 56.18. 1 13 Sec. 2. NEW SECTION. 422.12F INCOME TAX CHECKOFF FOR THE 1 14 ARTS. 1 15 1. A person who files an individual or a joint income tax 1 16 return with the department of revenue and finance under 1 17 section 422.13 may designate one dollar or more to be paid to 1 18 the Iowa arts checkoff fund as created in the arts division of 1 19 the department of cultural affairs. If the refund due on the 1 20 return or the payment remitted with the return is insufficient 1 21 to pay the amount designated by the taxpayer to the Iowa arts 1 22 checkoff fund, the amount designated shall be reduced to the 1 23 remaining amount of the refund or the remaining amount 1 24 remitted with the return. The designation of a contribution 1 25 to the Iowa arts checkoff fund is irrevocable. 1 26 2. The director of revenue and finance shall draft the 1 27 income tax form to allow for the designation of contributions 1 28 to the Iowa arts checkoff fund on the tax return. The 1 29 department of revenue and finance, on or before January 31, 1 30 shall transfer the total amount designated on the tax form due 1 31 in the preceding year to the Iowa arts checkoff fund. 1 32 However, before a checkoff pursuant to this section shall be 1 33 permitted, all liabilities on the books of the department of 1 34 revenue and finance and accounts identified as owing under 1 35 section 421.17 and the political contribution allowed under 2 1 section 56.18 shall be satisfied. 2 2 3. The department of cultural affairs shall create the 2 3 Iowa arts checkoff fund in the arts division of the 2 4 department. Moneys in the fund are appropriated to the arts 2 5 division of the department for purposes of supporting arts 2 6 division activities and programming. 2 7 4. The department shall adopt rules to administer this 2 8 section. 2 9 5. This section is subject to repeal under section 2 10 422.12E. 2 11 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies 2 12 retroactively to January 1, 2003, for tax years beginning on 2 13 or after that date and the checkoff shall be eligible for 2 14 placement on the individual income tax return form for the tax 2 15 year beginning January 1, 2003. 2 16 EXPLANATION 2 17 This bill provides that taxpayers filing individual income 2 18 tax returns will be allowed to designate $1 or more on the 2 19 return to be paid to the Iowa arts checkoff fund. The bill 2 20 requires the department of revenue and finance to annually 2 21 remit moneys collected from the checkoff to a fund created in 2 22 the arts division of the department of cultural affairs, which 2 23 moneys are appropriated for arts division activities and 2 24 programming. 2 25 The bill applies retroactively to January 1, 2003, for tax 2 26 years beginning on or after that date. 2 27 LSB 2905HH 80 2 28 sc/pj/5
Text: HF00360 Text: HF00362 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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