House Amendment 1667 PAG LIN 1 1 Amend Senate File 554, as amended, passed, and 1 2 reprinted by the Senate, as follows: 1 3 #1. Page 1, by inserting after line 5 the 1 4 following: 1 5 <Sec. . Section 422.33, Code 2007, is amended 1 6 by adding the following new subsection: 1 7 NEW SUBSECTION. 24. a. The taxes imposed under 1 8 this division shall be reduced by a public, 1 9 educational, and governmental access channel equipment 1 10 donation tax credit. The holder of a franchise 1 11 granted pursuant to chapter 477A for the construction 1 12 or operation of a cable system or video service 1 13 provider's network is eligible to receive a public, 1 14 educational, and governmental access channel equipment 1 15 donation tax credit in an amount equivalent to the 1 16 value of equipment donated to a municipality for 1 17 public, educational, and governmental access channel 1 18 programming, not to exceed ten thousand dollars. 1 19 b. If a holder of a franchise elects to take the 1 20 public, educational, and governmental access channel 1 21 equipment donation tax credit, the holder shall not 1 22 deduct for Iowa tax purposes any amount of equipment 1 23 donated which is deductible for federal tax purposes, 1 24 and a deduction pursuant to section 170 of the 1 25 Internal Revenue Code shall not be allowed for the 1 26 amount of the donation. 1 27 c. Any credit in excess of the tax liability is 1 28 not refundable but the excess for the tax year may be 1 29 credited to the tax liability for the following five 1 30 tax years or until depleted, whichever is the 1 31 earlier.> 1 32 #2. Page 15, line 15, by inserting after the word 1 33 <EFFECTIVE> the following: <AND APPLICABILITY>. 1 34 #3. Page 15, line 16, by inserting after the word 1 35 <enactment.> the following: <The section of this Act 1 36 establishing a public, educational, and governmental 1 37 access channel equipment donation tax credit is 1 38 retroactively applicable to tax years beginning on or 1 39 after January 1, 2007.> 1 40 #4. Title page, line 2, by inserting after the 1 41 word <fees> the following: <, providing a tax credit 1 42 for specified donations of equipment,>. 1 43 #5. Title page, line 5, by inserting after the 1 44 word <effective> the following: <and applicability>. 1 45 1 46 1 47 1 48 KAUFMANN of Cedar 1 49 SF 554.507 82 1 50 rn/je/8324 -1-