Establishing an excise tax on the sales price of consumable hemp products sold or purchased at bars or restaurants

Where it is now

1. ✓
   Done: IntroducedMarch 21, 2024
2. –
   Skipped: SubcommitteeSkipped
3. ✓
   Done: Senate committeeMarch 21, 2024
4. ✕
   Stopped: Passes the SenateDied when the General Assembly ended
5. Next: House committee
6. Next: Passes the House
7. Next: To the Governor
8. 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 establishes an excise tax on the sales price of consumable hemp products sold or purchased at bars and restaurants in this state. The bill imposes an excise tax of percent on the sales price of consumable hemp products sold at a bar or restaurant, but exempts the sales price of such consumable hemp products from the sales tax. The bill defines “bar” and “restaurant”. The department of revenue (DOR) is required to administer the excise tax. The bill requires DOR to administer the excise tax as nearly as possible in conjunction with the administration of the state sales and use tax laws. The moneys collected from the excise tax imposed in the bill are deposited into the general fund of the state.

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

Senate File 2417 is estimated to impact annual revenues to the General Fund, the SAVE Fund, and the LOST by the amounts in Figure 1.

• Consumable Hemp Products, Excise Tax · March 26, 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

Creates§423H.1§423H.2§423H.3§423H.4

Amends§423.3

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works