Iowa HF2643 amends tax credit eligibility for retail dealers who fail to report gasoline and diesel fuel sales.

Iowa HF2643 amends the state code to specify that retail dealers who fail to timely report total gasoline and diesel fuel gallonage sold or dispensed are ineligible to claim tax credits for E-85 gasoline promotion, biodiesel blended fuel, and E-15 plus gasoline promotion. The ineligibility applies for the tax year or any succeeding tax years until the report is filed. The report is used to calculate the rate of excise taxes on ethanol blended gasoline and biodiesel blended fuel.

Iowa HF2643 amends tax credit eligibility for retail dealers who fail to report gasoline and diesel fuel sales.

Iowa HF2643 amends the state code to specify that retail dealers who fail to timely report total gasoline and diesel fuel gallonage sold or dispensed are ineligible to claim tax credits for E-85 gasoline promotion, biodiesel blended fuel, and E-15 plus gasoline promotion. The ineligibility applies for the tax year or any succeeding tax years until the report is filed. The report is used to calculate the rate of excise taxes on ethanol blended gasoline and biodiesel blended fuel.