Bills › 90th General Assembly
Repealing the excise tax on the handling of grain
Sponsored by the House Ways and Means Committee
Topics:Taxes
Where it is now
- Done: IntroducedMarch 14, 2024
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committee
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill repeals the grain handling excise tax of one-fourth mill per bushel upon all grain handled. For purposes of the tax, “handling or handled” means the receiving of grain at or in each elevator, warehouse, mill, processing plant, or other facility in this state in which it is received for storage, accumulation, sale, processing, or any other purpose. In addition, “grain” means wheat, corn, barley, oats, rye, flaxseed, field peas, soybeans, grain sorghums, spelts, and such other products as are usually stored in grain elevators other than seeds after being processed.
Read the full explanation
The excise tax is entered on the tax list of the taxing district and revenue collected from the excise tax is distributed to the various taxing authorities (taxing units) within the taxing district in the same manner as general property taxes.7.7 provides that for a property tax credit or exemption enacted on or after January 1, 1997, if a state appropriation made to fund the credit or exemption is not sufficient to fully fund the credit or exemption, the political subdivision shall be required to extend to the taxpayer only that portion of the credit or exemption estimated by the department of revenue to be funded by the state appropriation.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
Fiscal note
2 million beginning with FY 2027. Source Iowa Department of Revenue /s/ Jennifer Acton March 27, 2024 Doc ID 1448419 The fiscal note for this Bill was prepared pursuant to Joint Rule 17 and the Iowa Code. Data used in developing this fiscal note is available from the Fiscal Services Division of the Legislative Services Agency upon request.
- Grain Handling Excise Tax, Repeal · March 27, 2024
Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note
Iowa Code it changes
Amends§445.3
Repeals§428.35
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
4 for · 0 against · 2 undecided · Who →