Text: SF00092 Text: SF00094 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, Code 2003, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 25A. Subtract, to the extent included,
1 4 income from whatever source received by an individual in the
1 5 national guard or armed forces regular or reserve units during
1 6 the period the individual is on active duty on or after
1 7 January 1, 2003.
1 8 Sec. 2. EFFECTIVE AND APPLICABILITY DATE. This Act, being
1 9 deemed of immediate importance, takes effect upon enactment
1 10 and applies retroactively to January 1, 2003, for tax years
1 11 beginning on or after that date.
1 12 EXPLANATION
1 13 This bill exempts from the individual income tax all the
1 14 income received by a person in the national guard or the armed
1 15 forces regular or reserve units during the period the person
1 16 is on active duty on or after January 1, 2003.
1 17 The bill takes effect upon enactment and applies
1 18 retroactively to January 1, 2003, for tax years beginning on
1 19 or after that date.
1 20 LSB 1796XS 80
1 21 mg/pj/5
Text: SF00092 Text: SF00094 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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