House Amendment 2009 PAG LIN 1 1 Amend Senate File 601, as amended, passed, and 1 2 reprinted by the Senate, as follows: 1 3 #1. Page 54, by inserting after line 13 the 1 4 following: 1 5 <Sec. . Section 423.6, subsection 10, 1 6 unnumbered paragraph 3, Code 2007, is amended to read 1 7 as follows: 1 8 This exemptionapplies to corporations that have 1 9 been in existence for not longer than twenty=four 1 10 monthsalso applies where the vehicle subject to 1 11 registration is transferred from an S corporation to 1 12 another S corporation that continues the business of 1 13 the transferring S corporation when all of the 1 14 incidents of the ownership are owned by the same 1 15 person who is the sole stockholder of the S 1 16 corporation.> 1 17 #2. Page 57, by inserting after line 29 the 1 18 following: 1 19 <Sec. . REFUNDS. Refunds of taxes, interest, 1 20 or penalties which arise from claims resulting from 1 21 the amendment of section 423.6, subsection 10, in this 1 22 division of this Act, for the exemption of transfer of 1 23 vehicles subject to registration between corporations 1 24 occurring between May 1, 2001, and the effective date 1 25 of this section of this division of this Act, shall be 1 26 limited to twenty=five thousand dollars in the 1 27 aggregate and shall not be allowed unless refund 1 28 claims are filed prior to October 1, 2007, 1 29 notwithstanding any other provision of law. If the 1 30 amount of claims totals more than twenty=five thousand 1 31 dollars in the aggregate, the department of revenue 1 32 shall prorate the twenty=five thousand dollars among 1 33 all claimants in relation to the amounts of the 1 34 claimants' valid claims. Claimants shall not be 1 35 entitled to interest on any refunds.> 1 36 #3. Page 59, by inserting after line 4 the 1 37 following: 1 38 <Sec. . EFFECTIVE AND RETROACTIVE APPLICABILITY 1 39 DATE. The section of this division of this Act 1 40 amending section 423.6, subsection 10, being deemed of 1 41 immediate importance, takes effects upon enactment and 1 42 applies retroactively to May 1, 2001.> 1 43 1 44 1 45 1 46 ALONS of Sioux 1 47 SF 601.213 82 1 48 mg/es/9992 1 49 1 50 -1-