Tue April 15, 2014
Iowa Senate approves disabled veterans tax credit
DES MOINES, Iowa (AP) — A bill meant to further relieve the financial stress of disabled veterans in the state has won the unanimous support of the Iowa Senate.
The Senate voted 50-0 Tuesday to expand a homestead tax credit already in place for disabled veterans. The legislation now goes to the House for consideration.
Under current law, eligibility for the credit is limited to disabled veterans who have an income of $35,000 or less and have acquired their home through certain federal programs. The proposal would make the tax credit available to disabled veterans regardless of income and how the home was purchased, and extend the credit to surviving spouses or children.
Sen. Herman Quirmbach, a Democrat from Ames, says the bill is a small way to better help disabled veterans financially.
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