Text: SSB03052 Text: SSB03054 Text: SSB03000 - SSB03099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.45, subsection 27, paragraph c, 1 2 subparagraph (3), Code Supplement 2001, is amended to read as 1 3 follows: 1 4 (3) Industrial machinery, equipment, and computers, 1 5 including pollution control equipment, within the scope of 1 6 section 427A.1, subsection 1, paragraphs "h" and "i". 1 7 However, the gross receipts from the sale of a turbine, 1 8 including replacement parts, that is to be used and is in fact 1 9 used in an electric power generating plant newly constructed 1 10 in Iowa on or after the effective date of this bill, and that 1 11 is sold to an electric company, electric cooperative, or a 1 12 municipal utility, are exempt from the tax imposed by this 1 13 division. For purposes of this subparagraph, "electric 1 14 company", "electric cooperative", "electric power generating 1 15 plant", and "municipal utility" shall have the meanings as 1 16 provided in section 437A.3. 1 17 Sec. 2. EFFECTIVE DATE. This Act, being deemed of 1 18 immediate importance, takes effect upon enactment. 1 19 EXPLANATION 1 20 This bill provides an exemption from the sales and use tax 1 21 under Code section 422.45. The exemption applies to a turbine 1 22 that is used in an electric power generating plant, newly 1 23 constructed in Iowa on or after the effective date of the 1 24 bill. The bill is effective upon enactment. 1 25 LSB 5066XC 79 1 26 jj/cls/14
Text: SSB03052 Text: SSB03054 Text: SSB03000 - SSB03099 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
© 2002 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Fri Jan 25 07:05:39 CST 2002
URL: /DOCS/GA/79GA/Legislation/SSB/03000/SSB03053/020124.html
jhf