House Journal: Page 2156: Tuesday, June 3, 2003
4 1. The section of this division of this Act
5 establishing the property tax implementation
6 committee, being deemed of immediate importance, takes
7 effect upon enactment.
8 2. The remainder of this division of this Act
9 takes effect July 1, 2005, and applies to assessment
10 years beginning on or after January 1, 2006, and
11 applies to tax collections for fiscal years beginning
12 on or after July 1, 2007.
13 Sec. 43. FUTURE REPEAL. This division of this Act
14 is repealed effective June 30, 2005.
15 DIVISION II
16 INDIVIDUAL INCOME TAX
17 2004-2006 TAX YEARS
18 Sec. 44. Section 422.5, subsection 1, paragraphs a
19 through i, Code 2003, are amended to read as follows:
20 For tax years beginning
21 in the calendar year:
22 2004 2005 2006
23 a. On all taxable income from
24 zero through one thousand dollars,
25 thirty-six hundredths of one
26 percent.: ............................. .35% .34% .33%
27 b. On all taxable income exceeding
28 one thousand dollars but not
29 exceeding two thousand dollars,
30 seventy-two hundredths of one
31 percent.: ............................. .71% .68% .65%
32 c. On all taxable income exceeding
33 two thousand dollars but not
34 exceeding four thousand dollars,
35 two and forty-three hundredths
36 percent.: ............................ 2.39% 2.30% 2.21%
37 d. On all taxable income exceeding
38 four thousand dollars but not
39 exceeding nine thousand dollars,
40 four and one-half percent.: .......... 4.42% 4.25% 4.09%
41 e. On all taxable income exceeding
42 nine thousand dollars but not
43 exceeding fifteen thousand
44 dollars, six and twelve hundredths
45 percent.: ............................ 6.01% 5.78% 5.56%
46 f. On all taxable income exceeding
47 fifteen thousand dollars but not
48 exceeding twenty thousand
49 dollars, six and forty-eight hundredths
50 percent.: ............................ 6.36% 6.12% 5.88%
Page 24
1 g. On all taxable income exceeding
2 twenty thousand dollars but not
© 2003 Cornell College and
League of Women Voters of Iowa
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