Text: HF02322 Text: HF02324 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.45, Code Supplement 1997, is
1 2 amended by adding the following new subsection:
1 3 NEW SUBSECTION. 52. The gross receipts from the sales of
1 4 meals or sandwiches by a nonprofit agricultural livestock or
1 5 fowl production association if all of the following are met:
1 6 a. The income of the production association is exempt from
1 7 income tax under this chapter.
1 8 b. The production association's primary purpose is the
1 9 promotion of an agricultural product grown or raised in the
1 10 state and the commodity promoted constitutes a majority of the
1 11 total cost of the meals or sandwiches sold.
1 12 c. The total gross receipts from the sales event are less
1 13 than five thousand dollars. For purposes of this paragraph,
1 14 sales made on consecutive days are considered made from the
1 15 same sales event.
1 16 Sec. 2. REFUNDS. Refunds of taxes, interest, or penalties
1 17 which arise from claims resulting from the enactment of
1 18 section 422.45, subsection 52, in this Act, occurring between
1 19 July 1, 1988, and June 30, 1998, shall not be allowed.
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 The bill provides an exemption from the sales and use taxes
1 26 of the sales of meals and sandwiches by nonprofit agricultural
1 27 livestock or fowl production associations if they are not
1 28 subject to state income tax, they have a primary purpose of
1 29 promotion of agricultural products grown or raised in the
1 30 state, this promoted product makes up a majority of the total
1 31 cost of the meals or sandwiches, and the total gross receipts
1 32 from the sales event is less than $5,000.
1 33 The bill takes effect upon enactment and applies
1 34 retroactively to July 1, 1988. However, no refunds of sales
1 35 or use taxes paid shall be allowed.
2 1 LSB 3892HH 77
2 2 mg/jw/5
Text: HF02322 Text: HF02324 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Fri Feb 27 03:42:44 CST 1998
URL: /DOCS/GA/77GA/Legislation/HF/02300/HF02323/980218.html
jhf