HSB 552 (LSB 5707HC (2) 83)

HOUSE FILE _____

BY  (PROPOSED COMMITTEE ON ECONOMIC GROWTH BILL BY CHAIRPERSON THOMAS)

A BILL FOR

An Act providing for a sales tax exemption for purchases made by a nonprofit blood bank licensed by the federal food and drug administration.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 423.3, subsection 26, Code Supplement 2009, is amended to read as follows:
   26.  The sales price of tangible personal property sold, or of services furnished, to a statewide nonprofit organ procurement organization, as defined in section 142C.2, or a nonprofit blood bank, as defined in section 141A.1, that is licensed by the federal food and drug administration.
EXPLANATION
   This bill creates a sales tax exemption on the sales price of goods sold to or services provided to a nonprofit blood bank that is licensed by the federal food and drug administration.