Text: SF00081 Text: SF00083 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 328.24, unnumbered paragraph 1, Code 1 2 2003, is amended to read as follows: 1 3 If, during the year for which an aircraft, except 1 4 nonresident aircraft used for the application of herbicides 1 5 and pesticides, was registered and the required fee paid, the 1 6 aircraft is destroyed by fire or accident or junked, and its 1 7 identity as an aircraft entirely eliminated, or it is removed 1 8 and continuously used beyond the boundaries of the state, then 1 9 the owner in whose name it was registered at the time of 1 10 destruction, dismantling, or removal from the state shall 1 11 return the certificate of registration to the department 1 12 within ten days and make affidavit of the destruction, 1 13 dismantling, or removal and make claim for the refund. The 1 14 refund shall be paid from thegeneralaviation investment fund 1 15of the state. 1 16 Sec. 2. Section 328.36, Code 2003, is amended to read as 1 17 follows: 1 18 328.36DEPOSIT AND USE OF REVENUESAVIATION INVESTMENT 1 19 FUND. 1 20 An aviation investment fund is created in the office of the 1 21 treasurer of state under the control of the department. All 1 22 moneys received by the department pursuant to section 328.21 1 23 or other sections of this chapter and those moneys remaining 1 24 after the cost of administering the aviation fuel tax fund as 1 25 provided in section 452A.82 shall be deposited into the 1 26generalaviation investment fundof the state and shall be1 27subject to the requirements of section 8.60. Moneys from tax 1 28 receipts on the sales of aircraft and aircraft parts shall be 1 29 deposited in the fund in accordance with section 422.43 or 1 30 423.24, as applicable. Moneys in the fund are not subject to 1 31 section 8.33. Notwithstanding section 12C.7, interest or 1 32 earnings on moneys in the fund shall be credited to the fund. 1 33 Moneys in the fund are appropriated to the department for 1 34 airport engineering studies, construction, and improvements. 1 35 Sec. 3. Section 422.43, subsection 8, Code 2003, is 2 1 amended to read as follows: 2 2 8. a.AllExcept as provided in paragraph "b", all 2 3 revenues arising under the operation of the provisions of this 2 4 section shall become part of thestategeneral fund of the 2 5 state. 2 6 b. Revenues generated from the tax imposed on the gross 2 7 receipts from the sale or rental of aircraft; the gross 2 8 receipts from the sale or rental of tangible personal property 2 9 permanently affixed or attached as a component part of the 2 10 aircraft, including but not limited to repair or replacement 2 11 materials or parts; and the gross receipts of all services 2 12 used for aircraft repair, remodeling, and maintenance services 2 13 when such services are performed on aircraft, aircraft 2 14 engines, or aircraft component materials or parts shall be 2 15 deposited as follows: 2 16 (1) For the fiscal year beginning July 1, 2004, one-third 2 17 of the revenues shall be deposited into the aviation 2 18 investment fund and the remaining revenues shall be deposited 2 19 into the general fund of the state. 2 20 (2) For the fiscal year beginning July 1, 2005, two-thirds 2 21 of the revenues shall be deposited into the aviation 2 22 investment fund and the remaining revenues shall be deposited 2 23 into the general fund of the state. 2 24 (3) For the fiscal year beginning July 1, 2006, and for 2 25 each fiscal year thereafter, the total amount of the revenues 2 26 shall be deposited into the aviation investment fund. 2 27 Sec. 4. Section 423.24, Code 2003, is amended by adding 2 28 the following new subsection: 2 29 NEW SUBSECTION. 2A. Revenues derived from the use tax on 2 30 aircraft; tangible personal property permanently affixed or 2 31 attached as a component part of the aircraft, including but 2 32 not limited to repair or replacement materials or parts; and 2 33 all services used for aircraft repair, remodeling, and 2 34 maintenance services when such services are performed on 2 35 aircraft, aircraft engines, or aircraft component materials or 3 1 parts shall be deposited as follows: 3 2 a. For the fiscal year beginning July 1, 2004, one-third 3 3 of the revenues shall be deposited into the aviation 3 4 investment fund and the remaining revenues shall be deposited 3 5 into the general fund of the state. 3 6 b. For the fiscal year beginning July 1, 2005, two-thirds 3 7 of the revenues shall be deposited into the aviation 3 8 investment fund and the remaining revenues shall be deposited 3 9 into the general fund of the state. 3 10 c. For the fiscal year beginning July 1, 2006, and for 3 11 each fiscal year thereafter, all such revenues shall be 3 12 deposited into the aviation investment fund. 3 13 Sec. 5. Section 452A.82, Code 2003, is amended to read as 3 14 follows: 3 15 452A.82 AVIATION FUEL TAX FUND. 3 16 The portion of the moneys collected under this chapter 3 17 received on account of aviation gasoline and special fuel used 3 18 in aircraft shall be deposited in a separate fund to be 3 19 maintained by the treasurer. All moneys remaining in the 3 20 separate fund after the cost of administering the fund has 3 21 been paid shall be credited to thegeneralaviation investment 3 22 fundof the statecreated in section 328.36. 3 23 EXPLANATION 3 24 This bill creates an aviation investment fund within the 3 25 state treasury to be administered by the state department of 3 26 transportation. Moneys in the fund are appropriated to the 3 27 department for the purposes of airport engineering, 3 28 construction, and improvements. 3 29 The fund consists of aircraft registration fees and moneys 3 30 from the aviation fuel tax fund not used for the 3 31 administration of that fund. Beginning July 1, 2004, revenues 3 32 derived from sales and use taxes on aircraft and aircraft 3 33 parts are to be deposited into the aviation investment fund 3 34 according to a three-year phase-in schedule. Currently, all 3 35 aircraft registration fees, aviation fuel tax revenues, and 4 1 aircraft sales and use tax revenues are deposited into the 4 2 general fund of the state. 4 3 The bill also amends Code section 328.24 by requiring that 4 4 refunds of registration fees for aircraft that are destroyed, 4 5 dismantled, or moved out of state are paid from the aviation 4 6 investment fund, rather than from the general fund. 4 7 LSB 1038SS 80 4 8 dea/pj/5
Text: SF00081 Text: SF00083 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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