Imposes a tax on the transportation of liquefied carbon dioxide through pipelines in Iowa.

The bill imposes a tax on pipeline companies transporting liquefied carbon dioxide within or through Iowa. The tax rate is $2.50 per metric ton, reduced to $1 per metric ton if the carbon dioxide is used in enhanced oil recovery. Pipeline companies must file annual returns with the Department of Revenue, disclosing the amount of carbon dioxide transported and its use. The bill outlines procedures for correcting errors, handling refunds, and enforcing the tax. It also specifies penalties for non-compliance, including fines and potential criminal charges.

Imposes a tax on the transportation of liquefied carbon dioxide through pipelines in Iowa.

The bill imposes a tax on pipeline companies transporting liquefied carbon dioxide within or through Iowa. The tax rate is $2.50 per metric ton, reduced to $1 per metric ton if the carbon dioxide is used in enhanced oil recovery. Pipeline companies must file annual returns with the Department of Revenue, disclosing the amount of carbon dioxide transported and its use. The bill outlines procedures for correcting errors, handling refunds, and enforcing the tax. It also specifies penalties for non-compliance, including fines and potential criminal charges.