SF 2503

Senate
File
2503
-
Introduced
SENATE
FILE
2503
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
SF
2275)
(SUCCESSOR
TO
SSB
3102)
A
BILL
FOR
An
Act
modifying
the
sales
or
use
tax
refund
for
biodiesel
1
production,
and
including
retroactive
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5832SZ
(2)
91
jm/jh
S.F.
2503
Section
1.
Section
423.4,
subsection
9,
paragraph
b,
Code
1
2026,
is
amended
to
read
as
follows:
2
b.
The
amount
of
the
refund
shall
be
calculated
by
3
multiplying
a
designated
rate
by
the
total
number
of
gallons
4
of
biodiesel
produced
by
the
biodiesel
producer
in
this
state
5
during
each
quarter
of
a
calendar
year.
The
Beginning
January
6
1,
2026,
but
before
January
1,
2027,
the
designated
rate
shall
7
be
four
five
cents.
Beginning
January
1,
2027,
but
before
8
January
1,
2028,
the
designated
rate
shall
be
four
cents.
9
Sec.
2.
RETROACTIVE
APPLICABILITY.
This
Act
applies
10
retroactively
to
January
1,
2026,
for
gallons
of
biodiesel
11
produced
by
a
biodiesel
producer
in
this
state
on
or
after
that
12
date.
13
EXPLANATION
14
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
15
the
explanation’s
substance
by
the
members
of
the
general
assembly.
16
Beginning
January
1,
2026,
but
before
January
1,
2027,
this
17
bill
increases
the
sales
or
use
tax
refund
available
to
the
18
producers
of
biodiesel
from
4
cents
per
gallon
to
5
cents
per
19
gallon.
Beginning
January
1,
2027,
but
before
January
1,
2028,
20
the
bill
reverts
the
refund
amount
back
to
4
cents
per
gallon
21
of
biodiesel
produced.
The
amount
of
the
refund
is
calculated
22
by
multiplying
the
designated
rate
(currently
4
cents)
by
the
23
total
number
of
gallons
of
biodiesel
produced
by
the
biodiesel
24
producer
in
this
state.
The
bill
does
not
change
the
repeal
25
date
of
January
1,
2028.
26
The
bill
applies
retroactively
to
January
1,
2026,
for
27
gallons
of
biodiesel
produced
by
a
biodiesel
producer
in
this
28
state
on
or
after
that
date.
29
-1-
LSB
5832SZ
(2)
91
jm/jh
1/
1