House File 680 - Introduced



                                    HOUSE FILE       
                                    BY  DAVITT and VAN FOSSEN


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act exempting tangible personal property representing services
  2    furnished for the production of master audio, video, film, or
  3    digital recordings or similar media from the sales and use
  4    taxes.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 2676YH 82
  7 mg/gg/14

PAG LIN



  1  1    Section 1.  Section 423.3, Code 2007, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  92.  The sales price of tangible personal
  1  4 property representing services furnished for the production of
  1  5 master audio, video, film, or digital tape recordings or
  1  6 similar media for which a business expense deduction is
  1  7 allowable for income tax purposes.
  1  8    The exemption under this subsection does not apply to the
  1  9 production of master audio, video, film, or digital tape
  1 10 recordings or similar media that depict or describe any
  1 11 obscene material, as defined in section 728.1.
  1 12                           EXPLANATION
  1 13    This bill exempts from state sales and use taxes the sales
  1 14 of tangible personal property representing services furnished
  1 15 for the production of master audio, video, film, or digital
  1 16 tape recordings or similar media for which a business expense
  1 17 deduction is allowable for income tax purposes.  The exemption
  1 18 does not apply if the production of the media depicts or
  1 19 describes obscene material.
  1 20 LSB 2676YH 82
  1 21 mg:rj/gg/14.1