Bill Text: IA HSB657 | 2015-2016 | 86th General Assembly | Introduced
Bill Title: A study bill relating to the income tax checkoffs for the Iowa state fair foundation fund and the veterans trust fund and volunteer fire fighter preparedness fund, and including retroactive applicability provisions.
Spectrum: Unknown
Status: (Introduced - Dead) 2016-04-21 - Voted - Ways and Means. [HSB657 Detail]
Download: Iowa-2015-HSB657-Introduced.html
House
Study
Bill
657
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
SANDS)
A
BILL
FOR
An
Act
relating
to
the
income
tax
checkoffs
for
the
Iowa
1
state
fair
foundation
fund
and
the
veterans
trust
fund
and
2
volunteer
fire
fighter
preparedness
fund,
and
including
3
retroactive
applicability
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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6078YC
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86
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H.F.
_____
Section
1.
NEW
SECTION
.
422.12D
Income
tax
checkoff
for
the
1
Iowa
state
fair
foundation
fund.
2
1.
A
person
who
files
an
individual
or
a
joint
income
tax
3
return
with
the
department
of
revenue
under
section
422.13
4
may
designate
one
dollar
or
more
to
be
paid
to
the
foundation
5
fund
of
the
Iowa
state
fair
foundation
as
established
in
6
section
173.22
.
If
the
refund
due
on
the
return
or
the
payment
7
remitted
with
the
return
is
insufficient
to
pay
the
amount
8
designated
by
the
taxpayer
to
the
foundation
fund,
the
amount
9
designated
shall
be
reduced
to
the
remaining
amount
of
the
10
refund
or
the
remaining
amount
remitted
with
the
return.
The
11
designation
of
a
contribution
to
the
foundation
fund
under
this
12
section
is
irrevocable.
13
2.
The
director
of
revenue
shall
draft
the
income
tax
form
14
to
allow
the
designation
of
contributions
to
the
foundation
15
fund
on
the
tax
return.
The
department,
on
or
before
January
16
31,
shall
transfer
the
total
amount
designated
on
the
tax
17
form
due
in
the
preceding
year
to
the
foundation
fund.
18
However,
before
a
checkoff
pursuant
to
this
section
shall
be
19
permitted,
all
liabilities
on
the
books
of
the
department
of
20
administrative
services
and
accounts
identified
as
owing
under
21
section
8A.504
and
the
political
contribution
allowed
under
22
section
68A.601
shall
be
satisfied.
23
3.
The
Iowa
state
fair
board
may
authorize
payment
from
24
the
foundation
fund
for
purposes
of
supporting
foundation
25
activities.
26
4.
The
department
of
revenue
shall
adopt
rules
to
implement
27
this
section
.
28
5.
This
section
is
subject
to
repeal
under
section
422.12E.
29
Sec.
2.
NEW
SECTION
.
422.12L
Joint
income
tax
checkoff
for
30
veterans
trust
fund
and
volunteer
fire
fighter
preparedness
fund.
31
1.
A
person
who
files
an
individual
or
a
joint
income
tax
32
return
with
the
department
of
revenue
under
section
422.13
may
33
designate
one
dollar
or
more
to
be
paid
jointly
to
the
veterans
34
trust
fund
created
in
section
35A.13
and
to
the
volunteer
fire
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H.F.
_____
fighter
preparedness
fund
created
in
section
100B.13
.
If
the
1
refund
due
on
the
return
or
the
payment
remitted
with
the
2
return
is
insufficient
to
pay
the
additional
amount
designated
3
by
the
taxpayer,
the
amount
designated
shall
be
reduced
to
the
4
remaining
amount
of
refund
or
the
remaining
amount
remitted
5
with
the
return.
The
designation
of
a
contribution
under
this
6
section
is
irrevocable.
7
2.
The
director
of
revenue
shall
draft
the
income
tax
form
8
to
allow
the
designation
of
contributions
to
the
veterans
trust
9
fund
and
to
the
volunteer
fire
fighter
preparedness
fund
as
10
one
checkoff
on
the
tax
return.
The
department
of
revenue,
11
on
or
before
January
31,
shall
transfer
one-half
of
the
total
12
amount
designated
on
the
tax
return
forms
due
in
the
preceding
13
calendar
year
to
the
veterans
trust
fund
and
the
remaining
14
one-half
to
the
volunteer
fire
fighter
preparedness
fund.
15
However,
before
a
checkoff
pursuant
to
this
section
shall
be
16
permitted,
all
liabilities
on
the
books
of
the
department
of
17
administrative
services
and
accounts
identified
as
owing
under
18
section
8A.504
and
the
political
contribution
allowed
under
19
section
68A.601
shall
be
satisfied.
20
3.
The
department
of
revenue
shall
adopt
rules
to
administer
21
this
section
.
22
4.
This
section
is
subject
to
repeal
under
section
422.12E
.
23
Sec.
3.
REPEAL.
Sections
422.12D
and
422.12L,
Code
2016,
24
are
repealed.
25
Sec.
4.
RETROACTIVE
APPLICABILITY.
This
Act
applies
26
retroactively
to
January
1,
2016,
for
tax
years
beginning
on
27
or
after
that
date.
28
EXPLANATION
29
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
30
the
explanation’s
substance
by
the
members
of
the
general
assembly.
31
This
bill
relates
to
the
income
tax
checkoffs
for
the
Iowa
32
state
fair
foundation
and
the
veterans
trust
fund
and
volunteer
33
fire
fighter
preparedness
fund.
34
Code
section
422.12E
limits
to
four
the
number
of
income
tax
35
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_____
checkoffs
that
can
appear
on
the
income
tax
return.
When
the
1
same
four
income
tax
return
checkoffs
have
been
provided
on
the
2
income
tax
return
for
two
consecutive
years,
the
two
checkoffs
3
for
which
the
least
amount
has
been
contributed
through
March
4
15
of
the
second
tax
year
are
repealed.
As
a
result,
the
Iowa
5
state
fair
foundation
and
the
veterans
trust
fund
and
volunteer
6
fire
fighter
preparedness
fund
checkoffs
are
scheduled
to
be
7
removed
from
the
income
tax
return
form
after
the
2015
tax
8
year.
9
The
bill
reenacts
as
new
the
checkoffs
for
both
the
Iowa
10
state
fair
foundation
and
the
veterans
trust
fund
and
volunteer
11
fire
fighter
preparedness
fund.
12
The
bill
applies
retroactively
to
January
1,
2016,
for
tax
13
years
beginning
on
or
after
that
date.
14
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