Bill Text: IA HF463 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act creating a private investigator tax credit available against the individual income tax, and including effective date and retroactive applicability provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-02-10 - Introduced, referred to Ways and Means. H.J. 336. [HF463 Detail]
Download: Iowa-2021-HF463-Introduced.html
House
File
463
-
Introduced
HOUSE
FILE
463
BY
WHEELER
A
BILL
FOR
An
Act
creating
a
private
investigator
tax
credit
available
1
against
the
individual
income
tax,
and
including
effective
2
date
and
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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463
Section
1.
NEW
SECTION
.
422.12O
Private
investigator
tax
1
credit.
2
1.
As
used
in
this
section:
3
a.
“Cold
case”
means
an
investigative
case
involving
a
4
missing
family
member
after
the
initial
investigation
into
the
5
disappearance
of
the
missing
family
member
by
a
law
enforcement
6
agency
has
been
completed
and
the
family
member
is
still
7
missing,
or
the
family
member
was
reported
missing
to
a
law
8
enforcement
agency
and
the
family
member
is
still
missing
after
9
ninety
days,
whichever
is
earlier.
10
b.
“Family
member”
means
a
spouse,
son,
daughter,
11
brother,
sister,
uncle,
aunt,
first
cousin,
nephew,
niece,
12
father-in-law,
mother-in-law,
son-in-law,
daughter-in-law,
13
brother-in-law,
sister-in-law,
father,
mother,
stepfather,
14
stepmother,
stepson,
stepdaughter,
stepbrother,
stepsister,
15
half
brother,
or
half
sister.
16
c.
“Private
investigator”
means
a
licensee
under
chapter
80A
17
other
than
a
bail
enforcement
business.
“Private
investigator”
18
includes
an
employee
of
a
licensee
under
chapter
80A
other
than
19
an
employee
of
a
bail
enforcement
business,
who
has
the
same
20
qualifications
of
the
licensee
as
required
by
section
80A.4,
21
subsection
3.
22
2.
The
taxes
imposed
under
this
subchapter,
less
the
credits
23
imposed
under
section
422.12,
shall
be
reduced
by
a
private
24
investigator
tax
credit
equal
to
twenty-five
percent
of
the
25
first
one
thousand
dollars
paid
by
the
taxpayer
to
a
private
26
investigator
to
investigate
a
cold
case
which
has
been
reported
27
to
a
law
enforcement
agency
within
the
previous
twelve
months.
28
3.
A
credit
in
excess
of
the
tax
liability
is
not
refundable
29
but
the
excess
of
the
tax
liability
for
the
tax
year
may
be
30
credited
to
the
tax
liability
for
the
following
five
years
or
31
until
depleted,
whichever
occurs
first.
32
4.
A
taxpayer
is
eligible
to
claim
the
credit
one
time
per
33
cold
case
up
to
the
maximum
credit
value
allowed
pursuant
to
34
this
section.
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5.
Married
taxpayers
electing
to
file
separate
returns
or
1
filing
separately
on
a
combined
return
may
avail
themselves
of
2
the
private
investigator
tax
credit
by
allocating
the
private
3
investigator
tax
credit
to
each
spouse
in
proportion
that
each
4
spouse’s
respective
earned
income
bears
to
the
total
combined
5
earned
income.
6
Sec.
2.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
7
importance,
takes
effect
upon
enactment.
8
Sec.
3.
RETROACTIVE
APPLICABILITY.
This
Act
applies
9
retroactively
to
January
1,
2021,
for
tax
years
beginning
on
10
or
after
that
date.
11
EXPLANATION
12
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
13
the
explanation’s
substance
by
the
members
of
the
general
assembly.
14
This
bill
creates
a
private
investigator
tax
credit
15
available
against
the
individual
income
tax.
16
The
bill
defines
“private
investigator”
to
mean
a
licensee
17
or
an
employee
of
a
licensee
under
Code
chapter
80A
other
than
18
a
bail
enforcement
business.
19
The
amount
of
the
credit
shall
equal
25
percent
of
the
first
20
$1,000
of
the
investigation
fees
paid
by
the
taxpayer
to
a
21
private
investigator
to
investigate
a
cold
case
which
has
been
22
reported
to
a
law
enforcement
agency
within
the
previous
12
23
months.
A
taxpayer
is
eligible
to
claim
the
credit
one
time
24
per
cold
case
up
to
the
maximum
credit
allowed
under
the
bill.
25
The
bill
defines
“cold
case”
to
mean
an
investigative
26
case
involving
a
missing
family
member
after
the
initial
27
investigation
into
the
disappearance
of
the
missing
family
28
member
by
a
law
enforcement
agency
has
been
completed,
or
the
29
family
member
was
reported
missing
to
a
law
enforcement
agency
30
and
the
family
member
is
still
missing
after
90
days,
whichever
31
is
earlier.
32
The
bill
takes
effect
upon
enactment
and
applies
33
retroactively
to
January
1,
2021,
for
tax
years
beginning
on
34
or
after
that
date.
35
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