House Journal: Page 687: Tuesday, March 16, 1999

38   amended to read as follows:

39     4.  Tangible personal property, the gross receipts
40   from the sale of which are exempted from the retail
41   sales tax by the terms of section 422.45, except
42   subsection 4 and subsection 6 of section 422.45 as it
43   relates to the sale of vehicles subject to
44   registration or subject only to the issuance of a
45   certificate of title and as it relates to aircraft
46   subject to registration under section 328.20.
47     Sec. 4. Section 423.4, Code 1999, is amended by
48   adding the following new subsections:
49     NEW SUBSECTION.  17.  Aircraft for use in a
50   scheduled interstate federal aviation administration
Page 2  
 1   certificated air carrier operation.
 2     NEW SUBSECTION.  18.  Aircraft; tangible personal
 3   property permanently affixed or attached as a
 4   component part of the aircraft, including but not
 5   limited to repair or replacement materials or parts;
 6   and all services used for aircraft repair, remodeling,
 7   and maintenance services when such services are
 8   performed on aircraft, aircraft engines, or aircraft
 9   component materials or parts.  For the purposes of
10   this exemption, "aircraft" means aircraft used in a
11   scheduled interstate federal aviation administration
12   certified air carrier operation.
13     NEW SUBSECTION.  19.  Tangible personal property
14   permanently affixed or attached as a component part of
15   the aircraft, including but not limited to repair or
16   replacement materials or parts; and all services used
17   for aircraft repair, remodeling, and maintenance
18   services when such services are performed on aircraft,
19   aircraft engines, or aircraft component materials or
20   parts.  For the purposes of this exemption, "aircraft"
21   means aircraft used in nonscheduled interstate federal
22   aviation administration certified air carrier
23   operation operating under 14 C.F.R. ch. 1, pt. 135.
24     NEW SUBSECTION.  20.  Aircraft sold to an aircraft
25   dealer who in turn rents or leases the aircraft if all
26   of the following apply:
27     a.  The aircraft is kept in the inventory of the
28   dealer for sale at all times.
29     b.  The dealer reserves the right to immediately
30   take the aircraft from the renter or lessee when a
31   buyer is found.
32     c.  The renter or lessee is aware that the dealer
33   will immediately take the aircraft when a buyer is
34   found.
35     If an aircraft exempt under this subsection is used
36   for any purpose other than leasing or renting, or the

© 1999 Cornell College and League of Women Voters of Iowa

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