Bills › 90th General Assembly
Relating to the excise tax imposed on the handling of grain, including by providing for transfer of collected revenue to the grain depositors and sellers indemnity fund, providing for the future elimination of the excise tax, and including effective date and retroactive applicability provisions
Sponsored by the House Ways and Means Committee
Topics:AgricultureTaxes
Where it is now
- Done: IntroducedMarch 23, 2023
- Skipped: SubcommitteeSkipped
- Done: House committeeApril 13, 2023
- Done: Passes the HouseApril 13, 202398–1
- Stopped: Senate committeeDied when the General Assembly ended
- 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
BACKGROUND. This bill relates to the grain handling excise tax of one-fourth mill per bushel upon all grain handled. For purposes of the excise 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 amount of excise tax is calculated on the basis of a statement filed by the person handling the grain due sixty days after the start of the calendar year. The statement records the total number of bushels handled by the person during the prior calendar year. 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 within the taxing district in the same manner as general property taxes. BILL’S PROVISIONS. The bill requires excise tax moneys on grain reported in the statement filed days after January 1, 2023, for the prior assessment year to be remitted to the department of revenue and transferred to the grain depositors and sellers indemnity fund. The excise tax is no longer assessable for grain handled on or after January 1, 2023, and the statute imposing the tax is repealed July 1, 2025. The bill takes effect upon enactment and is retroactively applicable to January 1, 2023, for the assessment year beginning January 1, 2022. GRAIN DEPOSITORS AND SELLERS INDEMNITY FUND. A grain dealer or warehouse operator must do business in this state under a license issued by the department of agriculture and land stewardship. A person selling grain to a licensed grain dealer or depositing grain with a licensed warehouse operator may be reimbursed for a loss incurred by the failure of the licensed grain dealer or licensed warehouse operator to honor a contractual obligation regarding the transaction. The indemnity fund is supported by several sources, including a participation fee paid by those grain dealers and warehouse operators applying for or renewing a license and a per-bushel fee paid only by grain dealers.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text
Senate subcommittee
Named April 20, 2023. It hasn’t reported yet.
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
1 million, beginning with FY 2024. 1 million. Increasing the balance in the Grain Indemnity Fund will decrease the fees owed in the future by licensed grain dealers and warehouse operators, who are required under Iowa Code chapter 203D to finance the operations of the Fund.
- Grain Handling Excise Tax, Repeal · April 3, 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
5 for · 0 against · 5 undecided · Who →