Proyectos de ley › 89.ª Asamblea General
Relating to the exclusion of retirement income from the computation of the individual income tax including providing an exclusion for the federal civil service retirement system, and phasing in an exclusion of other retirement income, and including retroactive applicability provisions
Dónde está ahora
- Hecho: Presentado1 de febrero de 2021
- Hecho: Subcomité8 de febrero de 2021
- Se detuvo: Comité del SenadoMurió al terminar la Asamblea General
- Sigue: Lo aprueba el Senado
- Sigue: Comité de la Cámara
- Sigue: Lo aprueba la Cámara
- Sigue: A gobernador(a)
- Sigue: Firmado como ley
Murió al terminar la sesión La sesión de 2022 terminó el 24 de mayo de 2022, la última sesión ordinaria de la Asamblea General. Los proyectos que no pasaron por ambas cámaras murieron. ¿Qué es el embudo (funnel)?
Qué contiene
La explicación oficial está en inglés; todavía no hay resumen en palabras sencillas.
This bill relates to the exclusion of retirement income from the computation of net income for purposes of the individual income tax. The bill excludes from the individual income tax all retirement income received by an individual from the federal civil service retirement system, and survivor benefits received from such system. The bill phases in over a five-year period the complete exclusion from the individual income tax of a taxpayer’s retirement income remaining after the exclusions referenced above.
Lea la explicación completa
The percentage of this retirement income that is excluded for tax years beginning in 2021, 2022, 2023, and 2024, is percent, percent, percent, and percent, respectively. For tax years beginning in 2025 or later, 100 percent of a taxpayer’s retirement income will be excluded from the individual income tax.5, and further provides that any retirement income excluded from the individual income tax will not be added back to these calculations for tax years beginning in 2025 or later. The bill defines “retirement income” for purposes of the exclusion. Under current law, a taxpayer may exclude all retirement pay, including certain survivor benefits, received from the federal government for military service performed in the armed forces, the armed forces military reserve, or national guard. In addition, a taxpayer who is disabled, who is at least years of age, or who is the surviving spouse or other specified survivor of that qualifying taxpayer, may exclude a maximum of $6,000 of other retirement income ($12,000 for married couples). The bill applies retroactively to January 1, 2021, for tax years beginning on or after that date.
Senate subcommittee
Named February 8, 2021. It hasn’t reported yet.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Lo que cambia del Código de Iowa (Iowa Code)
Cabildeo
0 a favor · 0 en contra · 2 indecisos · Quiénes →
Family tree
89th General Assembly
Earlier and later bills are matched by wording or an identical title.
Tried before
This idea has been filed in an earlier General Assembly. None got through a chamber.
- SF 308 Relating to the exclusion of retirement income from the computation of the individual inco…88th General Assembly · In committee · same titleCleared committee
- SSB 1186 SSB 118688th General Assembly · Subcommittee recommends passage · very similarCleared committee
Similar bills this General Assembly
- SF 37 Relating to the exclusion of retirement income from the computation of the individual inco…89th General Assembly · In committeeNearly identical
- SF 95 Providing an exemption from the computation of the individual income tax of certain amount…89th General Assembly · In committeeVery similar
- HF 2026 Exempting all retirement income from the individual income tax including retroactive appli…89th General Assembly · In committeeSimilar
Matched by wording or an identical title.