Text: HF00737 Text: HF00739 Text: HF00700 - HF00799 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.45, Code 2001, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 54C. The gross receipts from the sale or 1 4 rental of tangible personal property or from services 1 5 performed, rendered, or furnished to a nonprofit nursing 1 6 facility licensed pursuant to chapter 135C, to be used in the 1 7 operation of the nursing facility. 1 8 Sec. 2. EFFECTIVE AND APPLICABILITY PROVISION. This Act 1 9 takes effect only if the revenue estimating conference 1 10 estimates that, as a result of the enactment of federal income 1 11 tax legislation prior to January 1, 2002, Iowa income tax 1 12 receipts for the fiscal year beginning July 1, 2001, will be 1 13 increased by $11.8 million or more over the amount of Iowa 1 14 income tax receipts which would have been realized in the 1 15 absence of the enactment of such federal income tax 1 16 legislation. If this Act takes effect, this Act applies to 1 17 the sale or rental of tangible personal property or the 1 18 performing, rendering, or furnishing of services occurring on 1 19 or after January 1, 2002. 1 20 EXPLANATION 1 21 This bill exempts from the sales and use taxes the sales 1 22 and rentals of tangible personal property to and services 1 23 furnished to licensed nonprofit nursing facilities for use in 1 24 the operation of the nursing facilities. Nursing facilities 1 25 covered under this exemption are those licensed under state 1 26 law or administrative rules, but facilities for persons with 1 27 mental retardation or illness are excluded. 1 28 LSB 1924HV 79 1 29 mg/gg/8
Text: HF00737 Text: HF00739 Text: HF00700 - HF00799 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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