Bills › 90th General Assembly
Exempting certain leases or rentals between affiliates from the sales and use tax and from the fee for new vehicle registration, and including effective date and retroactive applicability provisions
Sponsored by the House Ways and Means Committee
Topics:Taxes
Where it is now
- Done: IntroducedMarch 13, 2023
- Skipped: SubcommitteeSkipped
- Done: House committeeMay 1, 2023
- Done: Passes the HouseMay 1, 202394–0
- Done: Senate committeeApril 3, 2024
- Done: Passes the SenateApril 10, 202445–0
- Done: To the GovernorMay 2, 2024
- Done: Signed into lawMay 17, 2024
Signed into law What’s a funnel?
What’s in it
This bill exempts certain leases or rentals between affiliates from the sales and use tax and from the fee for new vehicle registration.105A(2) has been paid by the lessor prior to the lease. The bill exempts from the sales and use tax the lease or rental of personal property between affiliates when a sales tax, use tax, or fee for new registration for a vehicle has been paid by an affiliate on the personal property leased or rented prior to such lease or rental. The bill prohibits refunds of taxes, interest, or penalties arising from claims resulting from the enactment of the bill.
Read the full explanation
The bill defines “affiliate” to mean an entity that directly or indirectly controls, is controlled with or by, or is under common control with another entity. The bill defines “control” in most instances to mean the ownership, directly or indirectly, of percent or more of the voting power to elect directors. The bill takes effect upon enactment and applies retroactively to January 1, 2015, for leases or rentals occurring on or after that date.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text · What changed before it passed
Senate subcommittee
Named March 25, 2024. On March 27, 2024 it recommended passage. [].
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
Fiscal note
House File 664 is estimated to reduce revenues to the General Fund, SAVE Fund, LOST, and the RUTF by the amounts in Figure 2.
- Final Fiscal Note — Sales and Use Tax Exemptions, Subsidiaries · April 26, 2024
- Sales and Use Tax Exemptions, Subsidiaries · April 11, 2024
- Sales and Use Tax Exemptions, Subsidiaries · March 30, 2023
Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note
Iowa Code it changes
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
3 for · 0 against · 10 undecided · Who →