Bills › 90th General Assembly
Where it is now
- Done: IntroducedMarch 6, 2024
- Done: SubcommitteeMarch 6, 2024
- Done: House committeeMarch 13, 2024
- Skipped: Passes the HouseContinued as HF 2657
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 2657 → Its progress continues under the new number. Go to HF 2657 What’s a funnel?
What’s in it
AI summary Iowa would get rid of the small tax currently charged on every bushel of grain handled at places like elevators, warehouses, and mills. This tax applies to many types of crops, including corn, wheat, and soybeans. The money collected from this tax is normally used to fund local government services.1
The official explanation
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 6, 2024. On March 11, 2024 it recommended passage. Vote Total: 3-0.
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 tax on grain handling. It is estimated to reduce annual local government revenue by $1.2 million beginning with fiscal year 2027.3
From the 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
Iowa Code it changes
Amends§445.3
Repeals§428.35
Lobbying
4 for · 0 against · 2 undecided · Who →
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90th General Assembly
Similar bills
- HSB 230 HSB 23090th General Assembly · Renumbered as HF 683Nearly identical
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