House Amendment 2078


PAG LIN




     1  1    Amend Senate File 590, as passed by the Senate, as
     1  2 follows:
     1  3 #1.  Page 1, by inserting before line 1 the
     1  4 following:
     1  5    <Section 1.  Section 422.7, subsection 13, Code
     1  6 2007, is amended to read as follows:
     1  7    13.  a.  Subtract, to the extent included, the
     1  8 amount of additional social security benefits taxable
     1  9 under the Internal Revenue Code for tax years
     1 10 beginning on or after January 1, 1994, but before
     1 11 January 1, 2014 2011.  The amount of social security
     1 12 benefits taxable as provided in section 86 of the
     1 13 Internal Revenue Code, as amended up to and including
     1 14 January 1, 1993, continues to apply for state income
     1 15 tax purposes for tax years beginning on or after
     1 16 January 1, 1994, but before January 1, 2014 2011.
     1 17    b.  (1)  For tax years beginning in the 2007
     1 18 calendar year, subtract, to the extent included,
     1 19 thirty=two percent of taxable social security benefits
     1 20 remaining after the subtraction in paragraph "a".
     1 21    (2)  For tax years beginning in the 2008 calendar
     1 22 year, subtract, to the extent included, thirty=two
     1 23 forty percent of taxable social security benefits
     1 24 remaining after the subtraction in paragraph "a".
     1 25    (3)  For tax years beginning in the 2009 calendar
     1 26 year, subtract, to the extent included, forty=three
     1 27 sixty percent of taxable social security benefits
     1 28 remaining after the subtraction in paragraph "a".
     1 29    (4)  For tax years beginning in the 2010 calendar
     1 30 year, subtract, to the extent included, fifty=five
     1 31 eighty percent of taxable social security benefits
     1 32 remaining after the subtraction in paragraph "a".
     1 33    (5)  For tax years beginning in the 2011 calendar
     1 34 year, subtract, to the extent included, sixty=seven
     1 35 percent of taxable social security benefits remaining
     1 36 after the subtraction in paragraph "a".
     1 37    (6)  For tax years beginning in the 2012 calendar
     1 38 year, subtract, to the extent included, seventy=seven
     1 39 percent of taxable social security benefits remaining
     1 40 after the subtraction in paragraph "a".
     1 41    (7)  For tax years beginning in the 2013 calendar
     1 42 year, subtract, to the extent included, eighty=nine
     1 43 percent of taxable social security benefits remaining
     1 44 after the subtraction in paragraph "a".
     1 45    c.  Married taxpayers, who file a joint federal
     1 46 income tax return and who elect to file separate
     1 47 returns or who elect separate filing on a combined
     1 48 return for state income tax purposes, shall allocate
     1 49 between the spouses the amount of benefits subtracted
     1 50 under paragraphs "a" and "b" from net income in the
     2  1 ratio of the social security benefits received by each
     2  2 spouse to the total of these benefits received by both
     2  3 spouses.
     2  4    d.  For tax years beginning on or after January 1,
     2  5 2014 2011, subtract, to the extent included, the
     2  6 amount of social security benefits taxable under
     2  7 section 86 of the Internal Revenue Code.>
     2  8 #2.  Title page, line 1, by inserting after the
     2  9 words <relating to> the following:  <the phase out of
     2 10 the tax on social security benefits, and to>.
     2 11
     2 12
     2 13                               
     2 14 LUKAN of Dubuque
     2 15 SF 590.301 82
     2 16 mg/cf/10044

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