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House File 729

Partial Bill History

Bill Text

PAG LIN
  1  1                                          HOUSE FILE 729
  1  2 
  1  3                             AN ACT
  1  4 RELATING TO REPORTING AND DEPOSITING OF LOCAL OPTION SALES
  1  5    AND SERVICES TAXES TO THE DEPARTMENT OF REVENUE AND
  1  6    FINANCE BY RETAILERS AND INCREASING THE AMOUNT OF
  1  7    ESTIMATED DISTRIBUTION AND FREQUENCY OF DISTRIBUTION
  1  8    TO CITIES AND COUNTIES BY THE DEPARTMENT OF REVENUE
  1  9    AND FINANCE.
  1 10 
  1 11 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 
  1 12 
  1 13    Section 1.  Section 422B.9, Code 1997, is amended by adding
  1 14 the following new unnumbered paragraph after unnumbered
  1 15 paragraph 4:
  1 16    NEW UNNUMBERED PARAGRAPH.  Frequency of deposits and
  1 17 quarterly reports of a local sales and services tax with the
  1 18 department of revenue and finance are governed by the tax
  1 19 provisions in section 422.52.  Local tax collections shall not
  1 20 be included in computation of the total tax to determine
  1 21 frequency of filing under section 422.52.
  1 22    Sec. 2.  Section 422B.10, subsection 2, Code 1997, is
  1 23 amended to read as follows:
  1 24    2.  a.  The director of revenue and finance within fifteen
  1 25 days of the beginning of each fiscal year shall send to each
  1 26 city or county where the local option tax is imposed, an
  1 27 estimate of the amount of tax moneys each city or county will
  1 28 receive for the year and for each quarter month of the year.
  1 29 At the end of each quarter month, the director may revise the
  1 30 estimates for the year and remaining quarters months.
  1 31    b.  The director of revenue and finance shall remit ninety
  1 32 ninety-five percent of the estimate tax receipts for the city
  1 33 or county to the city or county after the end of each quarter
  1 34 no later than the following dates:  November 10, February 10,
  1 35 May 10, and August 10 on or before August 31 of the fiscal
  2  1 year and on or before the last day of each following month.
  2  2    c.  The director of revenue and finance shall remit a final
  2  3 payment of the remainder of tax moneys due the city or county
  2  4 for the fiscal year before the due date for the payment of the
  2  5 first quarter November 10 of the next fiscal year.  If an
  2  6 overpayment has resulted during the previous fiscal year, the
  2  7 first payment of the new fiscal year shall be adjusted to
  2  8 reflect any overpayment.  
  2  9 
  2 10 
  2 11                                                             
  2 12                               RON J. CORBETT
  2 13                               Speaker of the House
  2 14 
  2 15 
  2 16                                                             
  2 17                               MARY E. KRAMER
  2 18                               President of the Senate
  2 19 
  2 20    I hereby certify that this bill originated in the House and
  2 21 is known as House File 729, Seventy-seventh General Assembly.
  2 22 
  2 23 
  2 24                                                             
  2 25                               ELIZABETH ISAACSON
  2 26                               Chief Clerk of the House
  2 27 Approved                , 1997
  2 28 
  2 29 
  2 30                         
  2 31 TERRY E. BRANSTAD
  2 32 Governor
     
Text: HF00728                           Text: HF00730
Text: HF00700 - HF00799                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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