House File 367 - Enrolled House File 367 AN ACT EXEMPTING FROM THE STATE INDIVIDUAL INCOME TAX THE EARNINGS FROM A BURIAL TRUST FUND, AND INCLUDING RETROACTIVE APPLICABILITY PROVISIONS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: Section 1. Section 422.7, Code 2021, is amended by adding the following new subsection: NEW SUBSECTION . 48. Subtract, to the extent included, income from interest and earnings received from a burial trust fund as defined in section 523A.102.

House File 367, p. 2 Sec. 2. RETROACTIVE APPLICABILITY. This Act applies retroactively to January 1, 2021, for tax years beginning on or after that date. ______________________________ PAT GRASSLEY Speaker of the House ______________________________ JAKE CHAPMAN President of the Senate I hereby certify that this bill originated in the House and is known as House File 367, Eighty-ninth General Assembly. ______________________________ MEGHAN NELSON Chief Clerk of the House Approved _______________, 2021 ______________________________ KIM REYNOLDS Governor