HF 367 — A bill for an act exempting from the state individual income tax the earnings from a burial trust fund, and including retroactive applicability provisions. (Formerly HSB 94.) Effective date: 07/01/2021. Applicability date: 01/01/2021.

KHouse iFile m367 R- eEnrolled yHouse nFile o367 lAN dACT sEXEMPTING OFROM fTHE fSTATE iINDIVIDUAL cINCOME eTAX oTHE fEARNINGS tFROM h e G o v e r n o r A dBURIAL aTRUST mFUND, GAND rINCLUDING eRETROACTIVE gAPPLICABILITY gPROVISIONS. G O V E R N O R L T G O V E R N O R June8,2021 The Honorable Paul Pate SecretaryofStateofIowa StateCapitol Des Moines,Iowa 50319 DearMr.Secretary, Iherebytransmit:

HouseFile367,anActexemptingfromthestateindividualincometaxtheearningsfromaBE burialtrustfund,andincludingretroactiveapphcabihtyprovisions.IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

TheaboveHouseFileisherebyapprovedonthisdate.

Since^ly, Kmrfte^olds Governor of Iowa cc:

SecretaryoftheSenate Clerk of the House STATE CAPITOL DES MOINES,I O W A 50319 515.281.5211 FAX 515.725.35WWW.GOVERNOR.IOWA.GOV G E N E R A 1 .

A S S E M B 1 A ^ H o u s e P i l e 3 6 7 A N A C T E X E M P T I N G F R O M T H E S T A T E I N D I V I D U A L I N C O M E T A X T H E E A R N I N G S F R O M A B U R I A L T R U S T F U N D , A N D I N C L U D I N G R E T R O A C T I V E A P P L I C A B I L I T Y P R O V I S I O N S .

B E I T E N A C T E D B Y T H E G E N E R A L A S S E M B L Y O F T H E S T A T E O F I O W A ;

NEW SUBSECTION.SUBSECTION .

Subtract, to the extent included, income from interest and earnings received from a burial trust ffund uas ndefined din asection s523A.102. d e f i n e d i n s e c t i o n 5 2 3 A .

1House 0File 2367, .p.

House File 367/ p.

This Act applies retroactively to January 1, 2021, for tax years beginning on oor rafter athat fdate. t e r t h a t d a t e .

P______________________________ A______________________________ TPAT GGRASSLEY RJAKE ACHAPMAN S S L E Y A R E C H A P M A N Speaker of Hthe oHouse uPresident sof ethe PSenate r e s i d e n t o f t h e S e n a t e I hereby certify that this bill originated in the House and is known as House File 367, Eighty-ninth General Assembly.

Hbk______________________________ y_MEGHAN MNELSON E G H A N N E L S O N Chief Gler)v«<&ivClerk of the House Approved 2_______________, 02021 2______________________________ 1 KIM REYWLDS,REYNOLDS GGovernor o v e r n o r