House Amendment 1509


PAG LIN




     1  1    Amend House File 871 as follows:
     1  2 #1.  Page 1, by inserting after line 24, the
     1  3 following:
     1  4    <   .  If a small employer elects to take the small
     1  5 employer health insurance coverage tax credit, the
     1  6 small employer shall reduce, by the amount used in the
     1  7 computation of the credit, the deduction for Iowa
     1  8 income tax purposes of the cost of health insurance
     1  9 premiums paid by the employer during the tax year in
     1 10 which the tax credit is computed, that is deductible
     1 11 for federal tax purposes.>
     1 12 #2.  Page 3, line 2, by striking the words and
     1 13 figure <, as defined in section 513B.2,>.
     1 14 #3.  Page 3, line 3, by inserting after the word
     1 15 <coverage> the following:  <, as defined in section
     1 16 513B.2,>.
     1 17 #4.  Page 3, by inserting after line 19, the
     1 18 following:
     1 19    <   .  If a small employer elects to take the small
     1 20 employer health insurance coverage tax credit, the
     1 21 small employer shall reduce, by the amount used in the
     1 22 computation of the credit, the deduction for Iowa
     1 23 income tax purposes of the cost of health insurance
     1 24 premiums paid by the employer during the tax year in
     1 25 which the tax credit is computed, that is deductible
     1 26 for federal tax purposes.>
     1 27 #5.  By renumbering as necessary.
     1 28
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     1 30                               
     1 31 KAUFMANN of Cedar
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     1 34                               
     1 35 DAVITT of Warren
     1 36 HF 871.701 81
     1 37 av/gg/2541
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