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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