H.F. 2121 Section 1. Section 423.3, Code 2022, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 68A. The sales price from the sale of a 3 firearm including firearm ammunition, if the sale takes place 4 during the period surrounding Independence Day, as follows: if 5 July 4 falls on a Friday, Saturday, Sunday, Monday, or Tuesday, 6 beginning at 12:01 a.m. on July 4 or the Friday preceding 7 July 4, as applicable, and ending seventy-two hours after the 8 beginning; or if July 4 falls on a Wednesday or Thursday, 9 beginning at 12:01 a.m. on the Friday after July 4, and ending 10 seventy-two hours after the beginning. 11 EXPLANATION 12 The inclusion of this explanation does not constitute agreement with 13 the explanation’s substance by the members of the general assembly. 14 This bill creates a sales tax exemption period for sales 15 purchases of a firearm including ammunition, if the sales 16 are made during the period surrounding Independence Day, as 17 follows: if July 4 falls on a Friday, Saturday, Sunday, 18 Monday, or Tuesday, beginning at 12:01 a.m. on July 4 or the 19 Friday preceding July 4, as applicable, and ending 72 hours 20 after the beginning; or if July 4 falls on a Wednesday or 21 Thursday, beginning at 12:01 a.m. on the Friday after July 4, 22 and ending 72 hours after the beginning. 23 By operation of Code section 423.6, an item exempt from the 24 imposition of the sales tax is also exempt from the use tax 25 imposed in Code section 423.5. 26 -1- LSB 5762HH (1) 89 jm/jh 1/ 1