House File 26 HOUSE FILE BY J.K. VAN FOSSEN, WISE, and VAN ENGELENHOVEN Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to the exemption of mold making equipment and 2 materials used in the mold making process from sales and use 3 taxes, providing refunds, and including effective and 4 retroactive applicability date provisions. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 6 TLSB 1455HT 80 7 mg/sh/8 PAG LIN 1 1 Section 1. Section 422.45, Code 2003, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 64. The gross receipts from the sale or 1 4 rental of mold making equipment, sand, and chemicals directly 1 5 and primarily used in the mold making process by a foundry. 1 6 Sec. 2. REFUNDS. Refunds of taxes, interest, or penalties 1 7 which arise from claims resulting from the enactment of 1 8 section 422.45, subsection 64, in this Act, for sales or 1 9 rentals occurring between July 1, 1997, and the effective date 1 10 of this Act, shall not be allowed unless refund claims are 1 11 filed prior to October 1, 2003, notwithstanding any other 1 12 provision of law. 1 13 Sec. 3. EFFECTIVE DATE AND RETROACTIVE APPLICABILITY 1 14 PROVISION. This Act, being deemed of immediate importance, 1 15 takes effect upon enactment and applies retroactively to July 1 16 1, 1997. 1 17 EXPLANATION 1 18 This bill exempts from the sales and use taxes the sale or 1 19 rental of mold making equipment, sand, and chemicals directly 1 20 and primarily used by a foundry in the mold making process. 1 21 Refunds, as a result of this exemption, are allowed if claims 1 22 are filed prior to October 1, 2003. The exemption is 1 23 retroactively applicable to July 1, 1997, for sales or rentals 1 24 made on or after that date. 1 25 The bill takes effect upon enactment. 1 26 LSB 1455HT 80 1 27 mg/sh/8 1 28 1 29 1 30 1 31 1 32 1 33 1 34 1 35