Senate Study Bill 1300 



                                       SENATE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            VETERANS AFFAIRS BILL
                                            BY CHAIRPERSON BEALL)


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

                                      A BILL FOR

  1 An Act exempting from the computation of the state individual
  2    income tax certain benefits received from the veterans trust
  3    fund and including a retroactive applicability date provision.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 2672SC 83
  6 tw/sc/14

PAG LIN



  1  1    Section 1.  Section 422.7, Code 2009, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  46A.  Subtract, to the extent included,
  1  4 amounts received from the veterans trust fund for any of the
  1  5 following items:
  1  6    a.  Travel expenses pursuant to section 35A.13, subsection
  1  7 7, paragraph "a".
  1  8    b.  Unemployment assistance pursuant to section 35A.13,
  1  9 subsection 7, paragraph "c".
  1 10    Sec. 2.  RETROACTIVE APPLICABILITY DATE.  This Act applies
  1 11 retroactively to January 1, 2009, for tax years beginning on
  1 12 or after that date.
  1 13                           EXPLANATION
  1 14    The veterans trust fund allows moneys appropriated to the
  1 15 veterans affairs commission to be expended for, among other
  1 16 things, providing travel expenses for wounded veterans and
  1 17 their spouses, if the expenses are directly related to
  1 18 follow=up medical care, and unemployment assistance during a
  1 19 period of unemployment, if the unemployment is due to
  1 20 prolonged physical or mental illness or disability resulting
  1 21 from military service.
  1 22    This bill exempts these benefits from the individual income
  1 23 tax.
  1 24    The bill applies retroactively to January 1, 2009, for tax
  1 25 years beginning on or after that date.
  1 26 LSB 2672SC 83
  1 27 tw/sc/14