Text: HF00223 Text: HF00225 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422C.3, subsection 1, Code 2003, is 1 2 amended to read as follows: 1 3 1. A tax offivesix percent is imposed upon the rental 1 4 price of an automobile if the rental transaction is subject to 1 5 the sales and services tax under chapter 422, division IV, or 1 6 the use tax under chapter 423. The tax shall not be imposed 1 7 on any rental transaction not taxable under the state sales 1 8 and services tax, as provided in section 422.45, or the state 1 9 use tax, as provided in section 423.4, on automobile rental 1 10 receipts. 1 11 Sec. 2. Section 422C.5, Code 2003, is amended by striking 1 12 the section and inserting in lieu thereof the following: 1 13 422C.5 DEPOSIT OF REVENUE -- APPROPRIATION. 1 14 1. Five out of every six cents collected pursuant to the 1 15 tax under section 422C.3 shall be credited to the road use tax 1 16 fund created under section 312.1. The remaining one cent 1 17 shall be credited to the general fund of the state. 1 18 2. On July 1 of each year, there is appropriated from the 1 19 general fund of the state to the department of economic 1 20 development an amount equal to the total amount credited to 1 21 the general fund during the previous fiscal year pursuant to 1 22 subsection 1. Moneys appropriated to the department pursuant 1 23 to this subsection shall be used for tourism advertising 1 24 purposes. 1 25 EXPLANATION 1 26 This bill relates to the automobile rental excise tax and 1 27 makes a related appropriation to the department of economic 1 28 development. 1 29 The bill increases the excise tax on the rental of 1 30 automobiles from 5 percent of the rental price to 6 percent of 1 31 the rental price. Currently, all revenue from the excise tax 1 32 is credited to the road use tax fund. The bill provides that 1 33 the increase in the excise tax shall be credited to the 1 34 general fund of the state and, on July 1 of each year, the 1 35 moneys credited to the general fund from the increase in the 2 1 excise tax during the previous fiscal year are appropriated to 2 2 the department of economic development for purposes of tourism 2 3 advertising. 2 4 LSB 2110YH 80 2 5 tm/cl/14
Text: HF00223 Text: HF00225 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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