IA
Iowa Senate Bill SF146

Iowa 2023-2024 Regular Session

Iowa Senate Bill SF146

Introduced
1/26/23  
Introduced
1/26/23  

Caption

A bill for an act establishing a fair as a designated exempt entity and allowing for refunds of state sales tax in the performance of certain written contracts and including effective date and retroactive applicability provisions.

Impact

The enactment of SF146 will have direct implications for local economies in areas where county and district fairs operate. By designating fairs as exempt entities, the bill provides a financial incentive that may encourage the hosting of such events, enhancing community engagement and economic activity. Additionally, the measure allows for the reimbursement of up to $25,000 in total claims submitted for tax refunds, which may assist in offsetting operational costs for these fairs. This financial support could play a key role in maintaining their viability amid ongoing economic fluctuations.

Summary

Senate File 146, introduced by Senator Sinclair, aims to establish fairs as designated exempt entities under Iowa law. The bill is designed to allow for refunds of state sales tax associated with certain written contracts performed by these fairs. Specifically, it amends Section 423.4 of the Code 2023 to include fairs in the category of entities eligible for sales tax refunds, thereby expanding financial relief for county and district fairs within the state's taxation framework. The bill's effective date is immediate upon enactment, and it includes retroactive applicability for claims dating back to January 1, 2021.

Contention

While the bill is framed as a benefit for local fairs, it may face scrutiny regarding the fiscal implications of extending tax exemptions. Some critics may argue that the refund cap of $25,000 could limit the potential benefits for larger events or those requiring substantial investment in resources. Additionally, debates may arise concerning the fairness of allocating state funds to support a specific sector, which might detract from broader public funding needs, impacting overall budget priorities in state financial planning.

Latest IA SF146 Activity

View All Events: IA 2023-2024 Regular Session SF146

Companion Bills

IA HSB225

Related A bill for an act establishing a fair as a designated exempt entity and allowing for refunds of state sales tax in the performance of certain written contracts and including effective date and retroactive applicability provisions.(See HF 681.)

IA HF681

Similar To A bill for an act exempting from the sales and use tax the sales price of tangible personal property or specified digital products sold and services furnished to a county or district fair, and making a county or district fair a designated exempt entity. (Formerly HSB 225.) Effective date: 07/01/2024.

Previously Filed As

IA HSB225

A bill for an act establishing a fair as a designated exempt entity and allowing for refunds of state sales tax in the performance of certain written contracts and including effective date and retroactive applicability provisions.(See HF 681.)

IA SSB1204

A bill for an act 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.

IA HSB68

A bill for an act 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.(See HF 664.)

IA HF715

A bill for an act relating to state and local finance and the administration of the tax and related laws by the department of revenue, and including effective date, applicability, and retroactive applicability provisions.(Formerly HSB 187.)

IA HF664

A bill for an act 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. (Formerly HSB 68.) Effective date: 05/17/2024. Applicability date: 01/01/2015.

IA HF352

A bill for an act relating to an entity-level taxation election for pass-through entities and allowing a partner or shareholder to claim a credit against the individual and corporate income taxes and the franchise tax, and including effective date and retroactive applicability provisions. (Formerly HSB 69.) Effective date: 05/11/2023. Applicability date: 01/01/2022.

IA SF614

A bill for an act relating to the administration of the tax by the department of revenue by modifying provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, changing tax expenditure reviews, and including effective date and retroactive applicability provisions.(Formerly SSB 1156.)

IA HF976

A bill for an act relating to the administration of the tax by the department of revenue by modifying provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, changing tax expenditure reviews, and including effective date and retroactive applicability provisions. (Formerly HSB 89.) Effective date: 06/06/2025, 07/01/2025, 01/01/2026. Applicability date: 01/01/2024, 01/01/2025, 01/01/2026.

IA SSB1148

A bill for an act relating to state and local finance and the administration of the tax and related laws by the department of revenue, and including effective date, applicability, and retroactive applicability provisions.(See SF 565.)

IA HSB187

A bill for an act relating to state and local finance and the administration of the tax and related laws by the department of revenue, and including effective date, applicability, and retroactive applicability provisions.(See HF 715.)

Similar Bills

No similar bills found.