Proyectos de ley › 89.ª Asamblea General
Dónde está ahora
- Hecho: Presentado27 de enero de 2022
- Hecho: Subcomité27 de enero de 2022
- Hecho: Comité de la Cámara15 de marzo de 2022
- Se detuvo: Lo aprueba la CámaraMurió al terminar la Asamblea General
- Sigue: Comité del Senado
- Sigue: Lo aprueba el Senado
- Sigue: A gobernador(a)
- Sigue: Firmado como ley
Murió al terminar la sesión La sesión de 2022 terminó el 24 de mayo de 2022, la última sesión ordinaria de la Asamblea General. Los proyectos que no pasaron por ambas cámaras murieron. ¿Qué es el embudo (funnel)?
Qué contiene
Resumen con IA Iowa is expanding its annual sales tax holiday to include emergency preparedness supplies alongside clothing. Most items must cost less than $100 to be tax-free, but generators can cost up to $5,000 with a limit of one per household. This change also extends the holiday by one day, making it run from the first Friday of August through the following Sunday. (Todavía no está traducido al español.)1
Lea la explicación oficial (en inglés)
This bill modifies the sales tax holiday. The bill adds the purchase of emergency preparedness supplies to the existing sales tax holiday for clothing. As with an article of clothing, an emergency preparedness supply item must be under $100 to qualify for the sales tax holiday, except for generators and other specified items which qualify if the sales price does not exceed $5,000. The bill limits the purchase of a portable or permanent generator to one such item per household per sales tax holiday period. The bill defines “emergency preparedness supplies” to mean a collection of basic household items needed in the event of an emergency and includes a list of the items. The bill lengthens the sales tax holiday from the period beginning on the first Friday of August and ending at midnight the following Saturday to the period beginning on the first Friday of August and ending at midnight on the following Sunday.
House subcommittee
Named January 27, 2022 (as HSB 622). On March 9, 2022 it recommended amendment and passage. Vote Total: 2-0.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Nota fiscal
Resumen con IA This bill expands the Iowa sales tax holiday to include emergency preparedness supplies and adds Sunday as an extra day for the holiday. It increases the price limit for certain items like generators and inverters from $100 to $5,000. The bill is estimated to reduce revenues for the state's General Fund, the Secure an Advanced Vision for Education (SAVE) Fund, and local option sales tax (LOST) by amounts ranging from $3.6 million to $4.1 million in total across fiscal year 2023 through fiscal year 2028. (en inglés)3
Lea la nota fiscal (en inglés)
Description
House File 2563 expands the Iowa sales tax holiday to include emergency preparedness supplies. The Bill provides an exception to the sales price limit of less than $100 per item for tie-down kits, portable generators, transfer switches, and inverters, for which the maximum allowed sales price is increased to $5,000. The Bill also expands the existing sales tax holiday by one additional day to include Sunday.
Background
The State currently has an annual sales tax holiday held on the first Friday and Saturday of August. During this period, clothing and footwear that meet certain criteria are exempt from sales tax and local option sales tax (LOST). The exemption does not apply to any item selling for $100 or more. The Department of Revenue estimates the amount of sales tax exempted in FY 2023 during the current sales tax holiday will be $4.7 million.
Alabama and Texas currently have a sales tax holiday for certain emergency preparedness supplies.
Assumptions
- Current FY 2022 annual sales of emergency preparedness supplies in the State are estimated to be $18.3 million.
- An estimated 5.0% of emergency preparedness supplies will be purchased during the sales tax holiday. Additionally, 5.0% of purchasers will use the sales tax holiday period to purchase higher-priced items than they would purchase without the holiday.
- Growth trends in future fiscal years are based on Consumer Price Index Urban (CPI-U) average estimated increases of 2.0% from FY 2023 to FY 2028.
- As a result of the number of days in the current sales tax holiday increasing from two to three, the estimated fiscal impact will increase proportionally by 50.0% to account for the additional day of exempted sales.
Fiscal Impact
House File 2563 would reduce revenues to the General Fund, Secure an Advanced Vision for Education (SAVE) Fund, and LOST by the estimated amounts listed below.
Sources
- Department of Revenue
- Iowa Emergency Management Association
- LSA analysis and calculations
- Sales Tax Exemption, Emergency Goods · 22 de marzo de 2022
Lo que cambia del Código de Iowa (Iowa Code)
Modifica§423.3
Cabildeo
7 a favor · 0 en contra · 8 indecisos · Quiénes →
Family tree
Study bill
89th General Assembly
Picked up later
Earlier and later bills are matched by wording or an identical title.