Text: SF02436 Text: SF02438 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Section 1. Section 422.45, subsection 27, paragraph a,
1 2 unnumbered paragraph 1, Code Supplement 1995, is amended to
1 3 read as 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. Industrial machinery, equipment and computers
1 14 directly and primarily used in the recycling or reprocessing
1 15 of waste products includes auxiliary attachments which improve
1 16 the performance, safety, operation, or efficiency of the
1 17 machinery, equipment and computers and replacement parts, and
1 18 such auxiliary attachments shall be exempt. As used in this
1 19 paragraph:
1 20 EXPLANATION
1 21 This bill exempts from state sales tax the gross receipts
1 22 from the sale or rental of auxiliary attachments and
1 23 replacement parts to industrial machinery, equipment and
1 24 computers used in waste products recycling and reprocessing.
1 25 LSB 4055SS 76
1 26 sc/jw/5
Text: SF02436 Text: SF02438 Text: SF02400 - SF02499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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