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PAG LIN
1 1 Section 1. Section 422.45, subsection 27, paragraph a,
1 2 unnumbered paragraph 1, Code 1995, is amended to read as
1 3 follows:
1 4 The industrial machinery, equipment and computers shall be
1 5 directly and primarily used in the manner described in section
1 6 428.20 in processing tangible personal property or in research
1 7 and development of new products or processes of manufacturing,
1 8 refining, purifying, combining of different materials or
1 9 packing of meats to be used for the purpose of adding value to
1 10 products, or in processing or storage of data or information
1 11 by an insurance company, financial institution or commercial
1 12 enterprise, or in the recycling or reprocessing of waste
1 13 products, or in waste reduction as defined in section 455D.1.
1 14 As used in this paragraph:
1 15 EXPLANATION
1 16 This bill expands the sales tax exemption on industrial
1 17 machinery, equipment and computers used primarily in the
1 18 recycling or reprocessing of waste products to include
1 19 industrial machinery, equipment and computers used primarily
1 20 in waste reduction.
1 21 BACKGROUND STATEMENT
1 22 SUBMITTED BY THE AGENCY
1 23 Under current law the sale of equipment which serves an
1 24 environmental purpose such as recycling is exempted from sales
1 25 tax. Since waste reduction is the highest priority approach
1 26 to waste management, it seems reasonable to suggest that
1 27 equipment that facilitates waste reduction should be given a
1 28 tax advantage as well to encourage more waste reduction
1 29 initiatives.
1 30 TLSB 1257DP 76
1 31 sc/sc/14
Text: HSB00094 Text: HSB00096 Text: HSB00000 - HSB00099 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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