Text: H01705 Text: H01707 Text: H01700 - H01799 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 714 as follows:
1 2 #1. Page 8, line 33, by striking the word
1 3 "determine" and inserting the following:
1 4 "determined".
1 5 #2. Page 12, by inserting after line 3, the
1 6 following:
1 7 "Sec. 100. Section 422.45, Code 2001, is amended
1 8 by adding the following new subsection:
1 9 NEW SUBSECTION. 60. a. The gross receipts from
1 10 the sale of coins, currency, or bullion.
1 11 b. For purposes of this subsection:
1 12 (1) "Bullion" means bars, ingots, or commemorative
1 13 medallions of gold, silver, platinum, palladium, or a
1 14 combination of these where the value of the metal
1 15 depends on its content and not the form.
1 16 (2) "Coins or currency" means a coin or currency
1 17 made of gold, silver, or other metal or paper which is
1 18 or has been used as legal tender.
1 19 c. This subsection is repealed June 30, 2003."
1 20 #3. Page 12, by striking lines 30 through 33, and
1 21 inserting the following:
1 22 "Sec. . EFFECTIVE AND APPLICABILITY PROVISION.
1 23 This Act takes effect only if the revenue estimating
1 24 conference estimates that, as a result of the
1 25 enactment of federal income tax legislation prior to
1 26 January 1, 2002, Iowa income tax receipts for the
1 27 fiscal year beginning July 1, 2001, will be increased
1 28 by $7.9 million or more over the amount of Iowa income
1 29 tax receipts which would have been realized in the
1 30 absence of the enactment of such federal income tax
1 31 legislation. If this Act takes effect, sections 5, 6,
1 32 7, 8, and 9 of this Act apply to tax years beginning
1 33 on or after January 1, 2002, and section 100 of this
1 34 Act applies beginning on July 1, 2001."
1 35 #4. Title page, line 7, by inserting after the
1 36 word "employees" the following: "and providing a
1 37 sales and use tax exemption for the sale of coins,
1 38 currency, or bullion,".
1 39 #5. By renumbering as necessary.
1 40
1 41
1 42
1 43 CORMACK of Webster
1 44 HF 714.301 79
1 45 mg/cf
Text: H01705 Text: H01707 Text: H01700 - H01799 Text: H Index Bills and Amendments: General Index Bill History: General Index
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