Bills › 90th General Assembly
Where it is now
- Done: IntroducedMarch 14, 2023
- Done: SubcommitteeMarch 14, 2023
- Done: House committeeMarch 21, 2023
- Skipped: Passes the HouseContinued as HF 683
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 683 → Its progress continues under the new number. Go to HF 683 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. _____ 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.
House subcommittee
Named March 14, 2023. On March 15, 2023 it recommended 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
Fiscal note
AI summary This bill repeals the grain handling tax and directs the tax collected during calendar year 2022 to the Grain Indemnity Fund. The repeal will reduce annual local government revenue by $1.1 million starting in fiscal year 2024. Additionally, the Grain Indemnity Fund will see a revenue increase of $1.1 million in fiscal year 2024, which is expected to decrease future fees for licensed grain dealers and warehouse operators.2
From the 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
Iowa Code it changes
Amends§445.3
Repeals§428.35
Lobbying
5 for · 0 against · 6 undecided · Who →
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90th General Assembly
Similar bills
- HSB 734 HSB 73490th General Assembly · Renumbered as HF 2657Nearly identical
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