Text: HF00438 Text: HF00440 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. 1997 Iowa Acts, chapter 158, is amended by
1 2 adding the following new section:
1 3 NEW SECTION. SEC. 54. RETROACTIVE APPLICABILITY.
1 4 Sections 14, 18, and 19 of this Act, amending sections 422.42,
1 5 422.45, subsection 39, and 422.47, relating to aquaculture
1 6 production, apply retroactively to April 1, 1987.
1 7 Sec. 2. Refunds of taxes, interests, or penalties which
1 8 arise from claims resulting from the enactment of the
1 9 amendment to 1997 Iowa Acts, chapter 158, in this Act, for
1 10 sales and rentals occurring between April 1, 1987, and June
1 11 30, 1997, shall be limited to twenty-five thousand dollars in
1 12 the aggregate and shall not be allowed unless refund claims
1 13 are filed prior to October 1, 1999, notwithstanding any other
1 14 provision of law. If the amount of claims totals more than
1 15 twenty-five thousand dollars in the aggregate, the department
1 16 of revenue and finance shall prorate the twenty-five thousand
1 17 dollars among all claimants in relation to the amounts of the
1 18 claimants' valid claims.
1 19 Sec. 3. This Act, being deemed of immediate importance,
1 20 takes effect upon enactment and applies retroactively to July
1 21 1, 1997.
1 22 EXPLANATION
1 23 The general assembly enacted during the 1997 Session an
1 24 exemption to the state sales and use tax, effective July 1,
1 25 1997, for products purchased for use in aquaculture and
1 26 expanded the definition of agricultural production to include
1 27 production from aquaculture for purposes of the sales and use
1 28 taxes.
1 29 This bill makes the previously enacted legislation
1 30 retroactive to April 1, 1987, but limits the total aggregate
1 31 claims for refunds of taxes, interest, and penalties as a
1 32 result of this retroactivity in the bill to $25,000. If such
1 33 refunds exceed $25,000, each refund will receive a pro rata
1 34 amount. To claim a refund, the claim must be filed by October
1 35 1, 1999.
2 1 The bill takes effect upon enactment and applies
2 2 retroactively to July 1, 1997, which is the date the present
2 3 law became effective.
2 4 LSB 1787YH 78
2 5 mg/sc/14
Text: HF00438 Text: HF00440 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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