House
File
817
-
Introduced
HOUSE
FILE
817
BY
PRICHARD
,
KURTH
,
B.
MEYER
,
STAED
,
McCONKEY
,
JAMES
,
WILBURN
,
HANSEN
,
HUNTER
,
JACOBY
,
OLDSON
,
GJERDE
,
THEDE
,
BOHANNAN
,
FORBES
,
HALL
,
WILLIAMS
,
KONFRST
,
SUNDE
,
and
MASCHER
(COMPANION
TO
SF
290
BY
BOLKCOM)
A
BILL
FOR
An
Act
relating
to
the
exclusion
of
certain
unemployment
1
compensation
from
the
individual
income
tax,
and
including
2
effective
date
and
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
2483YH
(2)
89
jm/jh
H.F.
817
Section
1.
Section
422.7,
Code
2021,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
63.
a.
Subtract,
to
the
extent
included,
3
the
first
ten
thousand
two
hundred
dollars
of
state
or
4
federal
unemployment
compensation
benefits
including
any
5
pandemic-related
unemployment
compensation
benefits
received
6
by
the
taxpayer
for
a
tax
year
beginning
on
or
after
January
1,
7
2020,
but
before
January
1,
2021.
8
b.
This
subsection
is
repealed
January
1,
2026.
9
Sec.
2.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
10
importance,
takes
effect
upon
enactment.
11
Sec.
3.
RETROACTIVE
APPLICABILITY.
This
Act
applies
12
retroactively
to
January
1,
2020,
for
tax
years
beginning
on
or
13
after
that
date,
but
before
January
1,
2021.
14
EXPLANATION
15
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
16
the
explanation’s
substance
by
the
members
of
the
general
assembly.
17
This
bill
relates
to
the
exclusion
of
certain
unemployment
18
compensation
from
the
individual
income
tax.
19
Under
the
bill,
the
first
$10,200
of
state
or
federal
20
unemployment
compensation,
including
pandemic-related
21
unemployment
compensation,
shall
be
excluded
from
the
22
calculation
of
a
taxpayer’s
Iowa
net
income
for
purposes
of
the
23
state
individual
income
tax.
24
The
bill
takes
effect
upon
enactment
and
applies
25
retroactively
to
January
1,
2020,
for
tax
years
beginning
on
or
26
after
that
date
but
before
January
1,
2021.
27
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(2)
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