The Iowa Supreme Court has now adopted the new child support guidelines which will go into effect on July 1, 2009. These new guidelines are premised upon the concept that both parents have a duty to support their child(ren) and that the support should relate to the true cost of raising a child. The guidelines will now establish the support obligation so that it is more in line with each parent's proportional income. There is also a new provision that focuses on the obligation of a parent who does not have physical care of the child(ren) and whose net income is below the poverty level.
Additionally, the allocation of the expense for health insurance premiums has also receiving an overhaul so that the ever rising costs associated with health insurance is more evenly distributed.
Other items of importance include, but are not limited to:
- Changes to the amount of the qualified additional dependent deduction;
- Changes to the extraordinary visitation credit;
- Use of potential earning vs. actual earning must be by agreement or court determination;
- Increase in the calendar year expense paid by the custodial parent (from $500 for all children to $800)
