Text: H09286                            Text: H09288
Text: H09200 - H09299                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index



House Amendment 9287

Amendment Text

PAG LIN
  1  1    Amend House File 2560 as follows:
  1  2    #1.  Page 2, by inserting after line 3 the
  1  3 following:
  1  4    "Sec. ___.  Section 422.45, Code Supplement 1997,
  1  5 is amended by adding the following new subsection:
  1  6    NEW SUBSECTION.  38B.  The gross receipts from the
  1  7 sale or rental of tangible personal property
  1  8 permanently affixed or attached as a component part of
  1  9 the aircraft, including but not limited to repair or
  1 10 replacement materials or parts; and the gross receipts
  1 11 of all services used for aircraft repair, remodeling,
  1 12 and maintenance services when such services are
  1 13 performed on aircraft, aircraft engines, or aircraft
  1 14 component materials or parts.  For the purposes of
  1 15 this exemption, "aircraft" means aircraft used in
  1 16 nonscheduled interstate federal aviation
  1 17 administration-certified air carrier operation
  1 18 operating under 14 C.F.R. ch. 1, pt. 135.
  1 19    Sec. ___.  Section 422.45, Code Supplement 1997, is
  1 20 amended by adding the following new subsection:
  1 21    NEW SUBSECTION.  38C.  The gross receipts from the
  1 22 sale of aircraft to an aircraft dealer who in turn
  1 23 rents or leases the aircraft if all of the following
  1 24 apply:
  1 25    a.  The aircraft is kept in the inventory of the
  1 26 dealer for sale at all times.
  1 27    b.  The dealer reserves the right to immediately
  1 28 take the aircraft from the renter or lessee when a
  1 29 buyer is found.
  1 30    c.  The renter or lessee is aware that the dealer
  1 31 will immediately take the aircraft when a buyer is
  1 32 found.
  1 33    If an aircraft exempt under this subsection is used
  1 34 for any purpose other than leasing or renting, or the
  1 35 conditions in paragraphs "a", "b", and "c" are not
  1 36 continuously met, the dealer claiming the exemption
  1 37 under this subsection is liable for the tax that would
  1 38 have been due except for this subsection.  The tax
  1 39 shall be computed upon the original purchase price."
  1 40    #2.  Title page, line 1, by inserting after the
  1 41 word "fees" the following:  "and sales tax
  1 42 exemptions".  
  1 43 
  1 44 
  1 45                               
  1 46 VAN FOSSEN of Scott 
  1 47 BELL of Jasper 
  1 48 HF 2560.201 77
  1 49 mg/jl/28
     

Text: H09286                            Text: H09288
Text: H09200 - H09299                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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