House File 333 - Introduced



                                       HOUSE FILE       
                                       BY  HEATON


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to an individual income tax credit for certain
  2    organ transplants and providing a retroactive applicability
  3    date.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1764YH 81
  6 mg/gg/14

PAG LIN



  1  1    Section 1.  NEW SECTION.  422.11K  LIVE ORGAN TRANSPLANT
  1  2 TAX CREDIT.
  1  3    1.  The taxes imposed under this division, less the credits
  1  4 allowed under sections 422.12 and 422.12B, shall be reduced by
  1  5 a live organ transplant tax credit.  To be eligible for the
  1  6 credit, the taxpayer shall, while living, devote one or more
  1  7 of the taxpayer's organs to another human being for immediate
  1  8 human organ transplantation.  For purposes of this section,
  1  9 "human organ" means all or part of a liver, pancreas, kidney,
  1 10 intestine, lung, or bone marrow.
  1 11    2.  The live organ transplant tax credit equals the
  1 12 following unreimbursed expenses, not to exceed ten thousand
  1 13 dollars, incurred by the taxpayer and related to the
  1 14 taxpayer's organ donation:
  1 15    a.  Travel expenses.
  1 16    b.  Lodging expenses.
  1 17    c.  Lost wages.
  1 18    3.  A taxpayer may only claim the tax credit under this
  1 19 section once during the taxpayer's life.  If the tax credit is
  1 20 claimed, the expenses listed in subsection 2 shall not be
  1 21 considered medical care expenses under section 213 of the
  1 22 Internal Revenue Code for the same tax year for state tax
  1 23 purposes.
  1 24    4.  Any credit in excess of the tax liability is
  1 25 nonrefundable but may be credited to the tax liability for the
  1 26 following ten years or until depleted, whichever is the
  1 27 earlier.
  1 28    Sec. 2.  APPLICABILITY DATE.  This Act applies
  1 29 retroactively to January 1, 2005, for tax years beginning on
  1 30 or after that date.
  1 31                           EXPLANATION
  1 32    This bill allows a live organ transplant tax credit of up
  1 33 to $10,000 under the individual income tax.  The tax credit
  1 34 equals the unreimbursed expenses incurred by the taxpayer who,
  1 35 while alive, donates all or part of a liver, pancreas, kidney,
  2  1 intestine, lung, or bone marrow to another human.  These
  2  2 expenses are for travel, lodging, and lost wages.  The credit
  2  3 may be claimed only once and is nonrefundable.  Any excess
  2  4 credit may be carried forward for up to 10 years.
  2  5    The bill applies retroactively to tax years beginning on or
  2  6 after January 1, 2005.
  2  7 LSB 1764YH 81
  2  8 mg:rj/gg/14