A bill for an act repealing the excise tax on the handling of grain.(See HF 683.)
Impact
The repeal of the grain handling excise tax is expected to foster a more competitive environment for grain handling and processing businesses in Iowa. By removing this tax, proponents argue that it would incentivize increased grain production and sales, which could lead to a bolstered agricultural economy. However, as the revenue from this tax has historically contributed to local taxing authorities, the repeal could result in budgetary challenges for these entities, calling into question how they will adapt to the loss of this funding.
Summary
House Study Bill 230 proposes to repeal the excise tax on the handling of grain, which is currently levied at one-fourth mill per bushel. The bill seeks to eliminate this tax to potentially lessen the financial burden on grain handlers, including local farmers and agricultural businesses. With this repeal, the bill aims to encourage more favorable conditions in the grain industry, which is a significant sector of Iowa's economy.
Contention
Opponents of HSB230 may express concerns regarding the financial implications for local governments that rely on revenue from this tax for funding essential services. They might argue that the repeal could lead to reduced funding for community projects and agricultural support programs that are vital to local economies. The debate surrounding HSB230 may highlight a broader discussion about balancing tax relief for the agricultural sector with maintaining necessary revenue streams for government services.
Replaced by
A bill for an act 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.(Formerly HSB 230.)
A bill for an act relating to agriculture, including by providing for the powers and duties of the department of agriculture and land stewardship, including the promotion and regulation of commodities and products; the regulation of the transportation of agricultural commodities; the use of agricultural land; and taxation, including property taxes, excise and sales taxes, and income taxes; making penalties applicable; and including effective date and applicability provisions.(See HF 2340, HF 2748.)
A bill for an act relating to agriculture, including by providing for the powers and duties of the department of agriculture and land stewardship, including the promotion and regulation of commodities and products; the regulation of the transportation of agricultural commodities; the use of agricultural land; and taxation, including property taxes, excise and sales taxes, and income taxes; making penalties applicable; and including effective date and applicability provisions.(Formerly HSB 588; See HF 2748.)
A bill for an act relating to agriculture, including by providing for the powers and duties of the department of agriculture and land stewardship, including the promotion and regulation of commodities and products; the regulation of the transportation of agricultural commodities; the use of agricultural land; and taxation, including property taxes, excise and sales taxes, and income taxes; making penalties applicable; and including effective date and applicability provisions. (Formerly HF 2340, HSB 588.)
A bill for an act relating to the excise tax on certain ethanol blended gasoline purchased exclusively for use in an implement of husbandry used in agricultural production.(Formerly HSB 561; See HF 2798.)
Concerning The Excise Tax On Certain Beer And Sake; To Create An Excise Tax Credit For Certain Beer And Sake Produced Using Arkansas Rice; And For Other Purposes.