This file contains STRIKE and UNDERSCORE. If you cannot see either STRIKE or UNDERSCORE attributes or would like to change how these attributes are displayed, please use the following form to make the desired changes.

House Journal: Page 1726: Tuesday, April 29, 1997

Page   8

 1   or services rendered, furnished, or performed used in
 2   the performance of any contract in connection with the
 3   operation of any municipal utility engaged in selling
 4   gas, electricity, or heat to the general public or in
 5   connection with the operation of a municipal pay
 6   television system; and except goods, wares, and
 7   merchandise used in the performance of a contract for
 8   a "project" under chapter 419 as defined in that
 9   chapter other than goods, wares, or merchandise used
10   in the performance of a contract for a "project" under
11   chapter 419 for which a bond issue was approved by a
12   municipality prior to July 1, 1968, or for which the
13   goods, wares, or merchandise becomes an integral part
14   of the project under contract and at the completion of
15   the project becomes public property or is devoted to
16   educational uses.
17     Sec. 17.  Section 422.45, subsection 18, Code 1997,
18   is amended to read as follows:
19     18.  Gross receipts from the sale of tangible
20   personal property, except vehicles subject to
21   registration, to a person regularly engaged in the
22   business of leasing if the period of the lease is for
23   more than one year five months, or in the consumer
24   rental purchase business if the property is to be
25   utilized in a transaction involving a consumer rental
26   purchase agreement as defined in section 537.3604,
27   subsection 8, and the leasing or consumer rental of
28   the property is subject to taxation under this
29   division.  If tangible personal property exempt under
30   this subsection is made use of for any purpose other
31   than leasing, renting, or consumer rental purchase,
32   the person claiming the exemption under this
33   subsection is liable for the tax that would have been
34   due except for this subsection.  The tax shall be
35   computed upon the original purchase price.  The
36   aggregate of the tax paid on the leasing, renting, or
37   rental purchase of such tangible personal property,
38   not to exceed the amount of the sales tax owed, shall
39   be credited against the tax.  This sales tax is in
40   addition to any sales or use tax that may be imposed
41   as a result of the disposal of such tangible personal
42   property.
43     Sec. 18.  Section 422.45, subsection 39, paragraphs
44   a and c, Code 1997, are amended to read as follows:
45     a.  The implement, machinery, or equipment is
46   directly and primarily used in livestock or dairy
47   production, use in aquaculture production, or in the
48   production of flowering, ornamental, or vegetable
49   plants.
50     c.  The replacement part is essential to any repair

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

Comments about this site or page? hjourn@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: Tue May 6 09:40:03 CDT 1997
URL: /DOCS/GA/77GA/Session.1/HJournal/01700/01726.html
jhf