House File 103 



                                       HOUSE 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