Senate File 2015 - Introduced SENATE FILE 2015 BY HANCOCK A BILL FOR An Act providing volunteer fire fighters and emergency medical 1 services personnel with an individual income tax credit and 2 including related appropriations from the taxpayers trust 3 fund, and including applicability provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 5023XS (5) 84 mm/sc
S.F. 2015 Section 1. Section 8.57E, Code Supplement 2011, is amended 1 to read as follows: 2 8.57E Taxpayers trust fund. 3 1. A taxpayers trust fund is created. The fund shall be 4 separate from the general fund of the state and the balance in 5 the fund shall not be considered part of the balance of the 6 general fund of the state. The moneys credited to the fund 7 are not subject to section 8.33 and shall not be transferred, 8 used, obligated, appropriated, or otherwise encumbered except 9 as provided in this section . 10 2. Moneys in the taxpayers trust fund shall only be used 11 pursuant to appropriations made by the general assembly for tax 12 relief. 13 3. a. There is appropriated from the taxpayers trust fund 14 to the general fund, for the fiscal year beginning July 1, 15 2014, and subsequent fiscal years, an amount of moneys equal 16 to the credits claimed under the volunteer fire fighter and 17 volunteer emergency medical services personnel income tax 18 credit in section 422.12 for the calendar year preceding the 19 fiscal year for which the appropriation is made. The maximum 20 annual appropriation under this paragraph shall not exceed 21 sixty million dollars. 22 b. Moneys The moneys remaining in the taxpayers trust fund 23 after the appropriation in paragraph “a” may be used for cash 24 flow purposes during a fiscal year provided that any moneys so 25 allocated are returned to the fund by the end of that fiscal 26 year. 27 b. 4. Except as provided in section 8.58 , the taxpayers 28 trust fund shall be considered a special account for the 29 purposes of section 8.53 in determining the cash position 30 of the general fund of the state for the payment of state 31 obligations. 32 4. 5. Notwithstanding section 12C.7, subsection 2 , 33 interest or earnings on moneys deposited in the taxpayers trust 34 fund shall be credited to the fund. 35 -1- LSB 5023XS (5) 84 mm/sc 1/ 3
S.F. 2015 Sec. 2. Section 422.12, subsection 1, Code 2011, is amended 1 by adding the following new paragraphs: 2 NEW PARAGRAPH . 0b. “Emergency medical services personnel” 3 means an emergency medical care provider, as defined in section 4 147A.1, who is certified as a first responder pursuant to 5 chapter 147A. 6 NEW PARAGRAPH . d. “Volunteer fire fighter” means a 7 volunteer fire fighter as defined in section 85.61 who has met 8 the minimum training standards established by the fire service 9 training bureau pursuant to chapter 100B. 10 Sec. 3. Section 422.12, subsection 2, Code 2011, is amended 11 by adding the following new paragraph: 12 NEW PARAGRAPH . c. (1) A volunteer fire fighter and 13 volunteer emergency medical services personnel credit equal 14 to five hundred dollars to compensate the taxpayer for the 15 voluntary services if the volunteer served for the entire tax 16 year. 17 If the taxpayer is not a volunteer fire fighter or volunteer 18 emergency medical services personnel for the entire tax 19 year, the maximum amount of the credit shall be prorated 20 and the amount of credit for the taxpayer shall equal the 21 maximum amount of credit for the tax year, divided by twelve, 22 multiplied by the number of months in the tax year the taxpayer 23 was a volunteer. The credit shall be rounded to the nearest 24 dollar. If the taxpayer is a volunteer during any part of a 25 month, the taxpayer shall be considered a volunteer for the 26 entire month. If the taxpayer is a volunteer fire fighter and 27 a volunteer emergency medical services personnel during the 28 same month, a credit may be claimed for only one volunteer 29 position for that month. 30 (2) The taxpayer is required to have a written statement 31 from the fire chief or other appropriate supervisor verifying 32 that the taxpayer was a volunteer fire fighter or volunteer 33 emergency medical services personnel for the months for which 34 the credit under this subsection is claimed. 35 -2- LSB 5023XS (5) 84 mm/sc 2/ 3
S.F. 2015 Sec. 4. APPLICABILITY. This Act applies to tax years 1 beginning on or after January 1, 2013. 2 EXPLANATION 3 This bill provides a nonrefundable individual income tax 4 credit for an individual who was a volunteer fire fighter who 5 has met the minimum training standards or certified volunteer 6 emergency medical services personnel for the entire tax year. 7 The credit is to compensate the individual for the volunteer 8 services. The amount of the credit equals $500. If the 9 individual was not a volunteer for the entire tax year, the 10 amount of credit is prorated based upon the months of volunteer 11 service. A credit may be claimed for only one volunteer 12 position per month. 13 The bill provides an annual appropriation from the taxpayers 14 relief fund to the general fund for an amount equal to the 15 credits claimed for a tax year, not to exceed $60 million. 16 The bill applies to tax years beginning on or after January 17 1, 2013. 18 -3- LSB 5023XS (5) 84 mm/sc 3/ 3