Text: S03434 Text: S03436 Text: S03400 - S03499 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 707, as passed by the House, as
1 2 follows:
1 3 #1. Page 1, by inserting after line 12, the
1 4 following:
1 5 "Sec. . Section 422.45, Code 2001, amended by
1 6 adding the following new subsection:
1 7 NEW SUBSECTION. 60. The gross receipts from the
1 8 sale, lease, or rental of computers, racks, shelves,
1 9 conveyors, machinery, and equipment, including
1 10 replacement parts, and materials used to construct or
1 11 self-construct computers, racks, shelves, conveyors,
1 12 machinery, and equipment if such items are directly
1 13 used by an interstate distributor.
1 14 For purposes of this subsection, "interstate
1 15 distributor" means a business that owns and operates a
1 16 distribution center whose size is fifty thousand
1 17 square feet or greater, whose new construction was
1 18 completed on or after July 1, 2001, is located on
1 19 property zoned for industrial purposes, and employs
1 20 ten or more new employees at that site, and over
1 21 fifty percent of the total value of products shipped
1 22 annually from that site are to a destination outside
1 23 the borders of Iowa. This exemption does not apply to
1 24 an interstate distributor which closes or
1 25 substantially reduces its operations in one area of
1 26 this state and relocates substantially the same
1 27 operation in another area of the state."
1 28 #2. Title page, line 3, by inserting after the
1 29 word "purposes" the following: "and exempting the
1 30 sale, lease, or rental of certain property to an
1 31 interstate distributor from sales and use taxes".
1 32
1 33
1 34
1 35 JOHN REDWINE
1 36 HF 707.502 79
1 37 mg/pj
Text: S03434 Text: S03436 Text: S03400 - S03499 Text: S Index Bills and Amendments: General Index Bill History: General Index
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