Iowa HF329 mandates water utilities to accept valid exemption certificates for tax-exempt water use and imposes penalties for non-compliance.

Iowa HF329 addresses the distribution of water exempt from taxation by requiring water utilities to accept and retain valid exemption certificates. Utilities that fail to accept these certificates face civil penalties. The bill defines "exemption certificate" and "water utility," and mandates the Department of Revenue to adopt rules for administering these provisions. Penalties collected are to be deposited into the state's general fund.

Iowa HF329 mandates water utilities to accept valid exemption certificates for tax-exempt water use and imposes penalties for non-compliance.

Iowa HF329 addresses the distribution of water exempt from taxation by requiring water utilities to accept and retain valid exemption certificates. Utilities that fail to accept these certificates face civil penalties. The bill defines "exemption certificate" and "water utility," and mandates the Department of Revenue to adopt rules for administering these provisions. Penalties collected are to be deposited into the state's general fund.