HF 2707 (LSB 6399HV (4) 90)

RELATING TO TRANSACTIONS INVOLVING USED CATALYTIC  CONVERTERS. 

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 714.27A, subsection 2, paragraphs b and c, Code 2024, are amended to read as follows:
   b.  For a business transaction in which the person selling the catalytic converter operates a business at a fixed location in this state, the person shall provide to the purchaser a copy of the person’s valid sales tax permit issued pursuant to chapter 423 or a copy of the person’s valid business license or permit. For a business transaction in which the person selling the catalytic converter operates a business at a fixed location in another state and is authorized to conduct a business transaction in this state, the person shall provide to the purchaser a copy of the person’s valid sales tax permit issued pursuant to chapter 423, if the person has such a permit, or a copy of the person’s valid business license or permit from the other state. If a person is unable to provide the documentation required in this paragraph, the person shall instead comply with paragraph “c”.
   c.  For transactions other than business transactions, the person selling the catalytic converter shall provide to the purchaser an original receipt or invoice for a replacement catalytic converter purchased fewer than thirty days before the person sells the replaced catalytic converter, a signed affidavit attesting to the seller’s valid ownership of the catalytic converter, or a junking certificate for a vehicle that was issued fewer than thirty days before the person sells the catalytic converter.
   (1)  The receipt, invoice, affidavit, or junking certificate presented by the person to the purchaser must be unmarked by a purchaser pursuant to subsection 3.
   (2)  This paragraph does not apply to a transaction if the person presents proof, unmarked pursuant to subsection 3, to the purchaser that the sale is approved by the sheriff of the county in which the vehicle from which the catalytic converter was removed is registered.
    Sec. 2.  Section 714.27A, subsection 3, paragraph b, Code 2024, is amended to read as follows:
   b.  A person who purchases a catalytic converter shall mark the receipt, invoice, affidavit, junking certificate, or proof of sheriff approval presented under subsection 2 to indicate the catalytic converter has been sold. The person shall take a photograph of the catalytic converter that clearly identifies the item as a catalytic converter.

______________________________
PAT GRASSLEY
Speaker of the House

______________________________
AMY SINCLAIR
President of the Senate

   I hereby certify that this bill originated in the House and is known as House File 2707, Ninetieth General Assembly.

______________________________
MEGHAN NELSON
Chief Clerk of the House

Approved _______________, 2024

______________________________
KIM REYNOLDS
Governor