Senate File 76 - Introduced



                                       SENATE FILE       
                                       BY  COMMITTEE ON WAYS AND MEANS

                                       (SUCCESSOR TO SF 32)


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

                                      A BILL FOR

  1 An Act relating to income tax deductions for donations made for
  2    tsunami relief and including effective and retroactive
  3    applicability date provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1743SV 81
  6 mg/sh/8

PAG LIN



  1  1    Section 1.  Section 422.9, subsection 2, Code 2005, is
  1  2 amended by adding the following new paragraph:
  1  3    NEW PARAGRAPH.  l.  If the taxpayer makes a cash donation
  1  4 after December 31, 2004, and before February 1, 2005, to a
  1  5 charitable organization for the specific purpose of helping
  1  6 victims in areas affected by the tsunami occurring in December
  1  7 2004 in the Indian ocean, the taxpayer may elect to claim such
  1  8 donation as a charitable contribution as defined under section
  1  9 170 of the Internal Revenue Code for the tax year beginning in
  1 10 the 2004 calendar year.
  1 11    Sec. 2.  EFFECTIVE AND RETROACTIVE DATES.  This Act, being
  1 12 deemed of immediate importance, takes effect upon enactment
  1 13 and applies retroactively to January 1, 2004, for tax years
  1 14 beginning in the 2004 calendar year.
  1 15                           EXPLANATION
  1 16    This bill allows individuals who make cash contributions to
  1 17 charitable organizations after December 31, 2004, and before
  1 18 February 1, 2005, specifically for the purpose of assisting
  1 19 victims in areas affected by the tsunami occurring in the
  1 20 Indian ocean to claim the contribution as a charitable
  1 21 contribution for the tax year beginning in the 2004 calendar
  1 22 year.
  1 23    The bill takes effect upon enactment and applies
  1 24 retroactively to January 1, 2004, for tax years beginning in
  1 25 the 2004 calendar year.
  1 26 LSB 1743SV 81
  1 27 mg:rj/sh/8