House File 2417 - Enrolled

PAG LIN



  1  1                                             HOUSE FILE 2417
  1  2
  1  3                             AN ACT
  1  4 EXEMPTING CERTAIN FEDERAL TAX REBATES UNDER THE STATE INDIVID=
  1  5    UAL INCOME TAX AND INCLUDING A RETROACTIVE APPLICABILITY
  1  6    DATE PROVISION.
  1  7
  1  8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  9
  1 10    Section 1.  Section 422.9, Code 2007, is amended by adding
  1 11 the following new subsection:
  1 12    NEW SUBSECTION.  8.  In determining the amount of deduction
  1 13 for federal income tax under subsection 1 or subsection 2,
  1 14 paragraph "b", for tax years beginning in the 2008 calendar
  1 15 year, the amount of the deduction for the tax year shall not
  1 16 be adjusted by the amount received during the tax year of the
  1 17 income tax rebate provided pursuant to the federal Recovery
  1 18 Rebates and Economic Stimulus for the American People Act of
  1 19 2008, Pub. L. No. 110=185, and the amount of such income tax
  1 20 rebate shall not be subject to taxation under this division.
  1 21    Sec. 2.  VETERAN'S ELIGIBILITY.  Notwithstanding any
  1 22 provision of or administrative rule adopted pursuant to
  1 23 chapter 35D, income tax rebates provided pursuant to the
  1 24 federal Recovery Rebates and Economic Stimulus for the
  1 25 American People Act of 2008, Pub. L. No. 110=185, shall not be
  1 26 considered for purposes of determining eligibility for
  1 27 admission to the Iowa veterans home and shall not be
  1 28 considered for determining whether a resident of the Iowa
  1 29 veterans home should contribute to the resident's own support.
  1 30    Sec. 3.  RETROACTIVE APPLICABILITY DATE.  This Act applies
  1 31 retroactively to January 1, 2008, for tax years beginning on
  1 32 or after that date and before January 1, 2009.
  1 33
  1 34
  1 35                                                             
  2  1                               PATRICK J. MURPHY
  2  2                               Speaker of the House
  2  3
  2  4
  2  5                                                             
  2  6                               JOHN P. KIBBIE
  2  7                               President of the Senate
  2  8
  2  9    I hereby certify that this bill originated in the House and
  2 10 is known as House File 2417, Eighty=second General Assembly.
  2 11
  2 12
  2 13                                                             
  2 14                               MARK BRANDSGARD
  2 15                               Chief Clerk of the House
  2 16 Approved                , 2008
  2 17
  2 18
  2 19                            
  2 20 CHESTER J. CULVER
  2 21 Governor