House
File
2071
-
Introduced
HOUSE
FILE
2071
BY
JONES
A
BILL
FOR
An
Act
modifying
the
sales
or
use
tax
refund
for
biodiesel
1
production.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
5832YH
(4)
91
jm/jh
H.F.
2071
Section
1.
Section
423.4,
subsection
9,
paragraphs
b
and
e,
1
Code
2026,
are
amended
to
read
as
follows:
2
b.
The
amount
of
the
refund
shall
be
calculated
by
3
multiplying
a
designated
rate
by
the
total
number
of
gallons
4
of
biodiesel
produced
by
the
biodiesel
producer
in
this
state
5
during
each
quarter
of
a
calendar
year.
The
designated
rate
6
shall
be
four
five
cents.
7
e.
This
subsection
is
repealed
January
1,
2028
2031
.
8
EXPLANATION
9
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
10
the
explanation’s
substance
by
the
members
of
the
general
assembly.
11
This
bill
increases
the
sales
or
use
tax
refund
available
12
to
the
producers
of
biodiesel
from
4
cents
per
gallon
to
5
13
cents
per
gallon.
The
amount
of
the
refund
is
calculated
by
14
multiplying
the
designated
rate
(currently
4
cents)
by
the
15
total
number
of
gallons
of
biodiesel
produced
by
the
biodiesel
16
producer
in
this
state.
The
bill
changes
the
repeal
date
of
17
the
refund
from
January
1,
2028,
to
January
1,
2031.
18
-1-
LSB
5832YH
(4)
91
jm/jh
1/
1