House Journal: Page 1531: Monday, April 17, 2000
27 department of transportation, on the gross receipts
28 from the sale of self-propelled building equipment,
29 pile drivers, motorized scaffolding, or attachments
30 customarily drawn or attached to self-propelled
31 building equipment, pile drivers, and motorized
32 scaffolding, including auxiliary attachments which
33 improve the performance, safety, operation, or
34 efficiency of the equipment, and replacement parts and
35 are directly and primarily used by contractors,
36 subcontractors, and builders for new construction,
37 reconstruction, alterations, expansion, or remodeling
38 of real property or structures, and on the gross
39 receipts from the sale of a lottery ticket or share in
40 a lottery game conducted pursuant to chapter 99E and
41 except the tax shall not be imposed on the gross
42 receipts from the sale or use of natural gas, natural
43 gas service, electricity, or electric service in a
44 city or county where the gross receipts from the sale
45 of natural gas or electric energy are subject to a
46 franchise fee or user fee during the period the
47 franchise or user fee is imposed.
48 Sec. 14. Section 423.4, subsection 9, Code
49 Supplement 1999, is amended to read as follows:
50 9. Vehicles subject to registration which are
Page 7
1 transferred from a business or individual conducting a
2 business within this state as a sole proprietorship,
3 or partnership, or limited liability company to a
4 corporation formed by the sole proprietorship, or
5 partnership, or limited liability company for the
6 purpose of continuing the business when all of the
7 stock of the corporation so formed is owned by the
8 sole proprietor and the sole proprietor's spouse, or
9 by all the partners in the case of a partnership, or
10 by all of the members in the case of a limited
11 liability company. This exemption is equally
12 available where the vehicles subject to registration
13 are transferred from a corporation to a sole
14 proprietorship, or partnership, or limited liability
15 company formed by that corporation for the purpose of
16 continuing the business when all of the incidents of
17 ownership are owned by the same person or persons who
18 were stockholders of the corporation.
19 This exemption also applies where the vehicles
20 subject to registration are transferred from a
21 corporation as part of the liquidation of the
22 corporation to its stockholders if within three months
23 of such transfer the stockholders retransfer those
24 vehicles subject to registration to a sole
25 proprietorship, partnership, or limited liability
© 2000 Cornell College and
League of Women Voters of Iowa
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