House File 103HOUSE FILE BY LUKAN Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act exempting victim compensation awards, victim restitution 2 payments, and damages awarded in certain civil actions from 3 the individual income tax and including a retroactive 4 applicability date provision. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 6 TLSB 1729HH 82 7 mg/es/88 PAG LIN 1 1 Section 1. Section 422.7, Code 2007, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 50. Subtract, to the extent included, the 1 4 amount of victim compensation awards paid under the victim 1 5 compensation program, victim restitution payments received 1 6 pursuant to chapter 910, and any damages awarded by a court, 1 7 and received by the taxpayer, in a civil action filed by the 1 8 victim against the offender, during the tax year. 1 9 Sec. 2. RETROACTIVE APPLICABILITY DATE. This Act applies 1 10 retroactively to January 1, 2007, for tax years beginning on 1 11 or after that date. 1 12 EXPLANATION 1 13 This bill exempts victim compensation awards, victim 1 14 restitution payments, and damages from civil actions received 1 15 during the tax year from the individual income tax. 1 16 The bill applies retroactively to tax years beginning on or 1 17 after January 1, 2007. 1 18 LSB 1729HH 82 1 19 mg:sc/es/88