Text: HF02492 Text: HF02494 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.45, subsection 26, paragraph b, 1 2 Code Supplement 1999, is amended to read as follows: 1 3 b. The farm machinery and equipment shall constitute self- 1 4 propelled implements or implements customarily drawn or 1 5 attached to self-propelled implementsor the farm machinery or1 6equipment is a grain dryer. 1 7 Sec. 2. Section 422.45, Code Supplement 1999, is amended 1 8 by adding the following new subsections: 1 9 NEW SUBSECTION. 26A. The gross receipts from the sale of 1 10 machinery or equipment used for any of the following: 1 11 a. Directly and primarily used in the blending of 1 12 fertilizers, including fertilizers, soil conditioners, and 1 13 unmanipulated manure as defined in section 200.3. 1 14 b. Directly and primarily used to dry, remove moisture 1 15 from, ventilate, or aerate harvested grain as defined in 1 16 section 203.1. 1 17 NEW SUBSECTION. 26B. The gross receipts from the sale of 1 18 fuel used in machinery or equipment which is used to dry, 1 19 remove moisture from, ventilate, or aerate harvested grain as 1 20 defined in section 203.1. 1 21 Sec. 3. REFUNDS. Refunds of taxes, interest, or penalties 1 22 which arise from claims resulting from the enactment of 1 23 section 422.45, subsections 26A and 26B, as provided in this 1 24 Act, for sales occurring between January 1, 1988, and the 1 25 effective date of this Act, shall be limited to twenty-five 1 26 thousand dollars in the aggregate and shall not be allowed 1 27 unless refund claims are filed prior to October 1, 2000, 1 28 notwithstanding any other provision of law. If the amount of 1 29 claims totals more than twenty-five thousand dollars in the 1 30 aggregate, the department of revenue and finance shall prorate 1 31 the twenty-five thousand dollars among all claimants in 1 32 relation to the amounts of the claimants' valid claims. 1 33 Sec. 4. EFFECTIVE DATE AND RETROACTIVE APPLICABILITY 1 34 PROVISION. This Act, being deemed of immediate importance, 1 35 takes effect upon enactment and applies retroactively to 2 1 January 1, 1988. 2 2 EXPLANATION 2 3 This bill amends Code section 422.45 which provides 2 4 exemptions from the retail sales tax imposed on the gross 2 5 receipts from all sales of tangible personal property. 2 6 Specifically, the bill exempts gross receipts from the sale of 2 7 equipment used for blending fertilizers and preserving or 2 8 improving the condition of harvested grain. The bill also 2 9 exempts the gross receipts from the sale of fuel used in the 2 10 preservation or improvement of the condition of harvested 2 11 grain. 2 12 The bill eliminates a current Code provision which exempts 2 13 the gross receipts of farm machinery used in grain drying. 2 14 The bill takes effect upon enactment and applies 2 15 retroactively to January 1, 1988. The bill provides a 2 16 procedure for filing refund claims. 2 17 LSB 5794HV 78 2 18 da/cls/14
Text: HF02492 Text: HF02494 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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