Text: HF00210 Text: HF00212 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.45, subsection 38, Code 1995, is 1 2 amended by striking the subsection and inserting in lieu 1 3 thereof the following: 1 4 38. The gross receipts from the sale or rental of 1 5 aircraft; the sale or rental of tangible personal property 1 6 permanently affixed or attached as a component part of the 1 7 aircraft, including but not limited to repair or replacement 1 8 materials or parts; and the gross receipts of all services 1 9 used for aircraft repair, remodeling, and maintenance services 1 10 when such services are performed on aircraft, aircraft 1 11 engines, or aircraft component materials or parts. For the 1 12 purposes of this exemption, "aircraft" means aircraft used in 1 13 a scheduled interstate federal aviation administration- 1 14 certified air carrier operation. 1 15 Sec. 2. REFUNDS. Refunds of taxes, interest, or penalties 1 16 which arise from claims resulting from the enactment of this 1 17 amendment to section 422.45, subsection 38, in this Act, 1 18 occurring between July 1, 1988, and June 30, 1995, shall not 1 19 be allowed unless filed prior to October 1, 1995. 1 20 Sec. 3. EFFECTIVE DATE AND RETROACTIVE APPLICABILITY 1 21 PROVISION. This Act, being deemed of immediate importance, 1 22 takes effect upon enactment and applies retroactively to July 1 23 1, 1988. 1 24 EXPLANATION 1 25 Current law provides a sales tax exemption for the gross 1 26 receipts from the sale of aircraft for use in a scheduled 1 27 interstate federal aviation administration-certified air 1 28 carrier operation. The bill expands that exemption to include 1 29 the rental of aircraft, the sale or rental of tangible 1 30 personal property permanently affixed as a component part, 1 31 including repair or replacement materials or parts, and the 1 32 gross receipts of all services used for aircraft repair, 1 33 remodeling, and maintenance. The exemption still applies only 1 34 to aircraft used in a scheduled interstate federal aviation 1 35 administration-certified air carrier operation. 2 1 The bill is retroactive to July 1, 1988. 2 2 The bill provides that refunds of taxes, interest, or 2 3 penalties which arise from claims resulting from this Act 2 4 occurring between July 1, 1988, and June 30, 1995, shall not 2 5 be allowed unless filed prior to October 1, 1995. 2 6 LSB 2031HH 76 2 7 js/cf/24
Text: HF00210 Text: HF00212 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Mon Mar 4 09:34:06 CST 1996
URL: /DOCS/GA/76GA/Legislation/HF/00200/HF00211/950223.html
jhf