701—40.72 (422) Exclusion of Vietnam Conflict veterans bonus. For tax years beginning on or after January 1, 2007, a taxpayer who received a bonus under the Vietnam Conflict veterans bonus program may subtract, to the extent included in federal adjusted gross income, the amount of the bonus received. The Vietnam Conflict veterans bonus is administered by the Iowa department of veterans affairs, and bonuses of up to $500 are awarded to residents of Iowa who served on active duty in the armed forces of the United States between July 1, 1973, and May 31, 1975.
This rule is intended to implement Iowa Code section 422.7 as amended by 2007 Iowa Acts, Senate File 578.