HF 2154 (LSB 5381YH (5) 83)

HOUSE FILE 2154

BY  HELLAND

A BILL FOR

An Act providing individual and corporate income tax deductions for a portion of the costs associated with conducting wellness programs and providing fitness facility memberships to employees and including retroactive applicability provisions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 422.7, Code Supplement 2009, is amended by adding the following new subsection:
   NEW SUBSECTION.  18.  Subtract, to the extent not otherwise deducted in computing adjusted gross income, an amount equal to twenty percent of the cost associated with conducting wellness programs and providing memberships at fitness facilities for employees of the taxpayer.
    Sec. 2.  Section 422.35, Code Supplement 2009, is amended by adding the following new subsection:
   NEW SUBSECTION.  9.  Subtract, to the extent not otherwise deducted in computing taxable income, an amount equal to twenty percent of the cost associated with conducting wellness programs and providing memberships at fitness facilities for employees of the taxpayer.
    Sec. 3.  RETROACTIVE APPLICABILITY.  This Act applies retroactively to January 1, 2010, for tax years beginning on or after that date.
EXPLANATION
   This bill provides deductions from the computation of net income to taxpayers subject to the individual or corporate income taxes for 20 percent of the cost associated with conducting wellness programs and providing memberships at fitness facilities for employees.
   The bill applies retroactively to January 1, 2010, for tax years beginning on or after that date.