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SENATE TAKES UP NEWTON TRACK SALES TAX BREAK
April 26, 2005
The Iowa Senate is debating a new version of the scheme to allow the proposed Newton racetrack to keep sales taxes it collects. The current version, HF 840, would rebate the sales taxes back to the track.
This is another one of the "good causes" that crop up all the time in tax legislation, with the best of intentions. We all know where good intentions lead.
UPDATE: The General Assembly webpage "Senate Floor Action" box says the bill has been "deferred."
UPDATE II. It passed, 44-6. Sigh. On to the Governor.
Prior coverage:
"AN EVEN CRAZIER IDEA IN IOWA"
WHY THE TAX LAW IS A MESS, CHAPTER...
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