Text: HSB00123 Text: HSB00125 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.45, Code 1999, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 55. The gross receipts from the sale of
1 4 industrial gases, such as argon, oxygen, and acetylene, to be
1 5 used in the manufacturing process.
1 6 Sec. 2. REFUNDS. Refunds of taxes, interest, or penalties
1 7 which arise from claims resulting from the enactment of
1 8 section 422.45, subsection 55, in this Act, for sales
1 9 occurring between January 1, 1991, and effective date of this
1 10 Act, shall be limited to twenty-five thousand dollars in the
1 11 aggregate and shall not be allowed unless refund claims are
1 12 filed prior to October 1, 1999, notwithstanding any other
1 13 provision of law. If the amount of claims totals more than
1 14 twenty-five thousand dollars in the aggregate, the department
1 15 of revenue and finance shall prorate the twenty-five thousand
1 16 dollars among all claimants in relation to the amounts of the
1 17 claimants' valid claims.
1 18 Sec. 3. EFFECTIVE DATE AND RETROACTIVE APPLICABILITY
1 19 PROVISION. This Act, being deemed of immediate importance,
1 20 takes effect upon enactment and applies retroactively to
1 21 January 1, 1991.
1 22 EXPLANATION
1 23 The bill exempts from the sales and use taxes the sale of
1 24 industrial gases like argon, oxygen, and acetylene to be used
1 25 in the manufacturing process. The bill makes the exemption
1 26 retroactive to sales made on or after January 1, 1991.
1 27 Refunds may be claimed for taxes paid as a result of this
1 28 retroactivity. However, the aggregate amount of refund claims
1 29 to be paid shall not exceed $25,000 and claims must be filed
1 30 by October 1, 1999. If the amount does exceed this amount,
1 31 each refund is prorated.
1 32 LSB 2212HC 78
1 33 mg/jw/5
Text: HSB00123 Text: HSB00125 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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