Bill Text: IN HB1295 | 2012 | Regular Session | Introduced
Bill Title: Exemption of farm drainage components from sales tax.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2012-01-11 - First reading: referred to Committee on Ways and Means [HB1295 Detail]
Download: Indiana-2012-HB1295-Introduced.html
Introduced Version
HOUSE BILL No. 1295
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DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-2.5-5-45.
Synopsis: Exemption of farm drainage components from sales tax.
Provides that a component of a farm drainage system is exempt from
sales tax if a farmer acquires the component. Provides that equipment
used to install, repair, or maintain a farm drainage system is exempt
from sales tax if the equipment is acquired by a farmer.
Effective: July 1, 2012.
Heaton, Cherry, Gutwein
January 10, 2012, read first time and referred to Committee on Ways and Means.
Introduced
Second Regular Session 117th General Assembly (2012)
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
HOUSE BILL No. 1295
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-2.5-5-45; (12)IN1295.1.1. -->
SECTION 1. IC 6-2.5-5-45 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2012]: Sec. 45. (a) As used in this section, "farm drainage
system" means a system of drainage tubing, drainage tiles, and
related control systems designed to facilitate the drainage of
agricultural land.
(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 used 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 agriculture.
(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 used 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 agriculture.
