Text: HF00653 Text: HF00655 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 HOUSE FILE 654
1 2
1 3 AN ACT
1 4 RELATING TO THE EXEMPTION OF SAND HANDLING AND CORE AND MOLD
1 5 MAKING EQUIPMENT USED IN THE MOLD MAKING PROCESS FROM SALES
1 6 AND USE TAXES, PROVIDING REFUNDS, AND INCLUDING EFFECTIVE AND
1 7 RETROACTIVE APPLICABILITY DATE PROVISIONS.
1 8
1 9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 10
1 11 Section 1. Section 422.45, Code 2003, is amended by adding
1 12 the following new subsection:
1 13 NEW SUBSECTION. 64. The gross receipts from the sale or
1 14 rental of core and mold making equipment and sand handling
1 15 equipment directly and primarily used in the mold making
1 16 process by a foundry.
1 17 Sec. 2. REFUNDS. Refunds of taxes, interest, or penalties
1 18 which arise from claims resulting from the enactment of
1 19 section 422.45, subsection 64, in this Act, for sales or
1 20 rentals of core and mold making equipment and sand handling
1 21 equipment occurring between July 1, 1997, and the effective
1 22 date of this Act, shall be limited to six hundred thousand
1 23 dollars in the aggregate and shall not be allowed unless
1 24 refund claims are filed prior to October 1, 2003,
1 25 notwithstanding any other provision of law. If the amount of
1 26 claims totals more than six hundred thousand dollars in the
1 27 aggregate, the department of revenue and finance shall prorate
1 28 the six hundred thousand dollars among all claimants in
1 29 relation to the amounts of the claimants' valid claims.
1 30 However, notwithstanding any other provision of law, each
1 31 valid refund claim shall be paid by the department of revenue
1 32 and finance in five equal installments, or as equal as
1 33 possible, over five fiscal years beginning with the fiscal
1 34 year beginning July 1, 2003. Claimants shall not be entitled
1 35 to interest on any installments.
2 1 Sec. 3. EFFECTIVE DATE AND RETROACTIVE APPLICABILITY
2 2 PROVISION. This Act, being deemed of immediate importance,
2 3 takes effect upon enactment and applies retroactively to July
2 4 1, 1997.
2 5
2 6
2 7
2 8 CHRISTOPHER C. RANTS
2 9 Speaker of the House
2 10
2 11
2 12
2 13 MARY E. KRAMER
2 14 President of the Senate
2 15
2 16 I hereby certify that this bill originated in the House and
2 17 is known as House File 654, Eightieth General Assembly.
2 18
2 19
2 20
2 21 MARGARET THOMSON
2 22 Chief Clerk of the House
2 23 Approved , 2003
2 24
2 25
2 26
2 27 THOMAS J. VILSACK
2 28 Governor
Text: HF00653 Text: HF00655 Text: HF00600 - HF00699 Text: HF Index Bills and Amendments: General Index Bill History: General Index
© 2003 Cornell College and League of Women Voters of Iowa
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