Bill Text: IA HF388 | 2015-2016 | 86th General Assembly | Introduced

Iowa House Bill 388 (Prior Session Legislation)

Introduced

Bill Title: A bill for an act relating to the sales tax imposed on the operation of bingo games by certain nonprofit entities.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-03-16 - Subcommittee, Moore, Gaskill, and L. Miller. H.J. 583. [HF388 Detail]

Download: Iowa-2015-HF388-Introduced.html

House File 388 - Introduced




                                 HOUSE FILE       
                                 BY  MOORE

                                      A BILL FOR

  1 An Act relating to the sales tax imposed on the operation of
  2    bingo games by certain nonprofit entities.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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PAG LIN



  1  1    Section 1.  Section 423.3, Code 2015, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  101.  The sales price from the operation
  1  4 of a bingo game, as defined in chapter 99B, operated by a
  1  5 nonprofit entity that is exempt from federal income taxation
  1  6 pursuant to section 501(c)(3) of the Internal Revenue Code,
  1  7 a government entity, or a nonprofit private educational
  1  8 institution, to the extent the amount of the sales price
  1  9 represents amounts that will be awarded as prizes during the
  1 10 operation of the bingo game.
  1 11                           EXPLANATION
  1 12 The inclusion of this explanation does not constitute agreement with
  1 13 the explanation's substance by the members of the general assembly.
  1 14    This bill provides a limited sales tax exemption for
  1 15 the operation of a bingo game by an Internal Revenue Code
  1 16 {501(c)(3) tax=exempt nonprofit entity, government entity, or
  1 17 a nonprofit private educational institution.  The exemption
  1 18 applies to the extent the amount of the sales price represents
  1 19 amounts that will be awarded as prizes during the operation of
  1 20 the bingo game.
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