Senate File 2007 - Introduced



                                       SENATE FILE       
                                       BY  LAMBERTI


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

                                      A BILL FOR

  1 An Act relating to the exemption from income tax of federal
  2    active duty pay of members of the armed forces military
  3    reserve and national guard and including a retroactive
  4    applicability date provision.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 5349XS 81
  7 mg/sh/8

PAG LIN



  1  1    Section 1.  Section 422.7, Code Supplement 2005, is amended
  1  2 by adding the following new subsection:
  1  3    NEW SUBSECTION.  45.  Subtract, to the extent included,
  1  4 active duty pay received as a member in the armed forces
  1  5 military reserve or national guard serving on federal active
  1  6 duty other than for training.
  1  7    Sec. 2.  RETROACTIVE APPLICABILITY DATE.  This Act applies
  1  8 retroactively to January 1, 2006, for tax years beginning on
  1  9 or after that date.
  1 10                           EXPLANATION
  1 11    This bill exempts from state income taxation active duty
  1 12 pay for members of the armed forces military reserve and
  1 13 national guard who serve on federal active duty other than for
  1 14 training.
  1 15    The bill applies retroactively to January 1, 2006, for tax
  1 16 years beginning on or after that date.
  1 17 LSB 5349XS 81
  1 18 mg:rj/sh/8