| LAWS OF THE 2001 REGULAR SESSION OF THE SEVENTY-NINTH GENERAL ASSEMBLY OF THE STATE OF IOWA |
Section 1. Section 422.45, Code 2001, is amended by adding the following new subsection:
NEW SUBSECTION. 2A. The gross receipts from charges paid for the delivery of electricity or natural gas if the sale, furnishing, or service of the electricity or natural gas or its use is exempt from the tax on gross receipts imposed under this division or from the use tax imposed under chapter 423.
Sec. 2. Section 422.45, subsection 61, as enacted by 2001 Iowa Acts, House File 1,1 section 2, is amended to read as follows:
61. a. Subject to paragraph "b", the gross receipts from the sale, furnishing, or service of metered
gas, and
electricity, to provide energy
for
and fuel, including propane and heating oil
to residential customers and the gross receipts from the sale, furnishing, or service of fuel, including propane and heating
oil,
which is used to provide
heat
energy for residential dwellings and units of apartment and condominium complexes used
for human occupancy.
b. The exemption in this subsection shall be phased in by means of a reduction in the tax rate as follows:
(1) If the date of the utility billing or meter reading
cycle of the residential customer for the sale,
furnishing, or service of metered gas and electricity is
between
on or after January 1, 2002,
and
through December 31, 2002, or
if the sale, furnishing, or service of fuel for
heating
purposes occurs
between
of residential energy and the delivery of the fuel occurs on or
after January 1, 2002, and
through December 31, 2002, the rate of tax
is four percent of the gross receipts.
(2) If the date of the utility billing or meter reading
cycle of the residential customer for the sale,
furnishing, or service of metered gas and electricity is
between
on or after January 1, 2003,
and
through December 31, 2003, or
if the sale, furnishing, or service of fuel for
heating
purposes occurs
between
of residential energy and the delivery of the fuel occurs on or
after January 1, 2003, and
through December 31, 2003, the rate of tax
is three percent of the gross receipts.
(3) If the date of the utility billing or meter reading
cycle of the residential customer for the sale,
furnishing, or service of metered gas and electricity is
between
on or after January 1, 2004,
and
through December 31, 2004, or
if the sale, furnishing, or service of fuel for
heating
purposes occurs
between
of residential energy and the delivery of the fuel occurs on or
after January 1, 2004, and
through December 31, 2004, the rate of tax
is two percent of the gross receipts.
(4) If the date of the utility billing or meter reading
cycle of the residential customer for the sale,
furnishing, or service of metered gas and electricity is
between
on or after January 1, 2005,
and
through December 31, 2005, or
if the sale, furnishing, or service of fuel for
heating
purposes occurs
between
of residential energy and the delivery of the fuel occurs on or
after January 1, 2005, and
through December 31, 2005, the rate of tax
is one percent of the gross receipts.
(5) If the date of the utility billing or meter reading
cycle of the residential customer for the sale,
furnishing, or service of metered gas and electricity is on or after January 1, 2006, or
if the sale, furnishing, or service of fuel for
heating
purposes of residential energy and the delivery of the
fuel occurs on or after January 1, 2006, the rate of tax is zero percent of the gross receipts.
c. The exemption in this subsection does not apply to local option sales and services tax imposed pursuant to chapters 422B and 422E.
Approved May 3, 2001
1Chapter 1 herein
Updated: 28-Oct-2001 07:05 PM
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