Iowa HF 2364: A bill for an act establishing an income tax exclusion for persons seventy years of age or older, and including applicability provisions.

Status: Introduced, referred to Ways and Means. (as of 2022-02-10)

State: Iowa · Session: 2021-2022 · Bill: HF 2364

Subjects: income taxes, older persons

Sponsors: Andrews

Bill Text

House File 2364 - Introduced
HOUSE FILE 2364
BY ANDREWS
A BILL FOR
An Act establishing an income tax exclusion for persons1
seventy years of age or older, and including applicability2
provisions.3
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:4
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H.F. 2364
Section 1. Section 422.7, Code 2022, is amended by adding1
the following new subsection:2
NEW SUBSECTION. 31C. Subtract, to the extent included,3
income received by a person seventy years of age or older.4
Sec. 2. APPLICABILITY. This Act applies to tax years5
beginning on or after January 1, 2023.6
EXPLANATION7
The inclusion of this explanation does not constitute agreement with8
the explanation’s substance by the members of the general assembly.9
This bill establishes an income tax exclusion for persons 7010
years of age or older. The bill applies to tax years beginning11
on or after January 1, 2023.12
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