Bill Text: IN HB1244 | 2010 | Regular Session | Amended
Bill Title: Sales tax exemption for drainage equipment.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2010-01-26 - Referred to the Committee on Ways and Means pursuant to House Rule 127 [HB1244 Detail]
Download: Indiana-2010-HB1244-Amended.html
Citations Affected: IC 6-2.5.
Synopsis: Sales tax exemption for drainage equipment. Provides that
a component of a farm drainage system is exempt from sales tax if a
farmer acquires the component. Provides that equipment designed
specifically to install, repair, or maintain a farm drainage system is
exempt from sales tax if the equipment is acquired by a farmer or a
person in the business of installing, repairing, or maintaining farm
drainage systems.
Effective: July 1, 2010.
January 12, 2010, read first time and referred to Committee on Environmental Affairs.
January 26, 2010, reported _ Do Pass. Referred to Committee on Ways and Means
pursuant to Rule 127.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(b) Transactions involving a component of a farm drainage system are exempt from the state gross retail tax if the person acquiring the component is engaged in the business of agriculture.
(c) Transactions involving equipment designed specifically to install, repair, or maintain farm drainage systems are exempt from the state gross retail tax if the person acquiring the equipment is engaged in the business of:
(1) agriculture; or
(2) installing, repairing, or maintaining farm drainage systems.