House File 2467 - Introduced HOUSE FILE 2467 BY COMMITTEE ON WAYS AND MEANS (SUCCESSOR TO HSB 657) A BILL FOR An Act relating to the automatic repeal of income tax checkoffs 1 and including retroactive applicability provisions. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 6078HV (2) 86 mm/sc

H.F. 2467 Section 1. Section 422.12D, subsection 5, Code 2016, is 1 amended by striking the subsection. 2 Sec. 2. Section 422.12E, subsection 1, Code 2016, is amended 3 to read as follows: 4 1. For tax years beginning on or after January 1, 2004, 5 there shall be allowed no more than four income tax return 6 checkoffs on each income tax return. When the same four income 7 tax return checkoffs have been provided on the income tax 8 return for two consecutive years, the two checkoffs for which 9 the least amount has been contributed, in the aggregate for the 10 first tax year and through March 15 of the second tax year, are 11 repealed. This section does not apply to the income tax return 12 checkoff provided in section 68A.601 . 13 Sec. 3. Section 422.12K, subsection 5, Code 2016, is amended 14 by striking the subsection. 15 Sec. 4. Section 422.12L, subsection 4, Code 2016, is amended 16 by striking the subsection. 17 Sec. 5. RETROACTIVE APPLICABILITY. This Act applies 18 retroactively to January 1, 2016, for tax years beginning on 19 or after that date. 20 EXPLANATION 21 The inclusion of this explanation does not constitute agreement with 22 the explanation’s substance by the members of the general assembly. 23 This bill relates to the automatic repeal of income tax 24 checkoffs. 25 Code section 422.12E limits to four the number of income tax 26 checkoffs that can appear on the income tax return. When the 27 same four income tax return checkoffs have been provided on the 28 income tax return for two consecutive years, the two checkoffs 29 for which the least amount has been contributed through March 30 15 of the second tax year are repealed. The bill strikes the 31 automatic repeal provision. 32 As a result, the four current income tax checkoffs that were 33 subject to the automatic repeal provision (Iowa state fair 34 foundation checkoff, veterans trust fund and volunteer fire 35 -1- LSB 6078HV (2) 86 mm/sc 1/ 2

H.F. 2467 fighter preparedness joint checkoff, child abuse prevention 1 checkoff, and fish and game protection checkoff) will become 2 permanent on the income tax return unless they are repealed by 3 the general assembly. 4 The bill applies retroactively to January 1, 2016, for tax 5 years beginning on or after that date. 6 -2- LSB 6078HV (2) 86 mm/sc 2/ 2