Text: HF02540 Text: HF02542 Text: HF02500 - HF02599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 HOUSE FILE 2541
1 2
1 3 AN ACT
1 4 RELATING TO THE USE TAX EXEMPTION FOR VEHICLES USED SUBSTANTIALLY
1 5 IN INTERSTATE COMMERCE.
1 6
1 7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 8
1 9 Section 1. Section 423.4, subsection 10, Code Supplement
1 10 1997, is amended by adding the following new unnumbered
1 11 paragraph:
1 12 NEW UNNUMBERED PARAGRAPH. For the purposes of this
1 13 subsection, if a vehicle meets the requirement that twenty-
1 14 five percent of the miles operated accrues in states other
1 15 than Iowa in each year of the first four-year period of
1 16 operation, the exemption from use tax shall continue until the
1 17 vehicle is sold or transferred. If the vehicle is found to
1 18 have not met the exemption requirements or the exemption was
1 19 revoked, the value of the vehicle upon which the use tax shall
1 20 be imposed is the book or market value, whichever is less, at
1 21 the time the exemption requirements were not met or the
1 22 exemption was revoked.
1 23
1 24
1 25
1 26 RON J. CORBETT
1 27 Speaker of the House
1 28
1 29
1 30
1 31 MARY E. KRAMER
1 32 President of the Senate
1 33
1 34 I hereby certify that this bill originated in the House and
1 35 is known as House File 2541, Seventy-seventh General Assembly.
2 1
2 2
2 3
2 4 ELIZABETH ISAACSON
2 5 Chief Clerk of the House
2 6 Approved , 1998
2 7
2 8
2 9
2 10 TERRY E. BRANSTAD
2 11 Governor
Text: HF02540 Text: HF02542 Text: HF02500 - HF02599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
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