This bill amends Section 123.24 of the Iowa Code regarding the pricing of alcoholic liquor sold by the Department of Revenue to retail alcohol licensees. It introduces a new pricing structure that incorporates a "minimum unit price," defined as fifty cents per eighteen milliliters of alcohol in the package. The bill stipulates that the price of alcoholic liquor will be determined by either the manufacturer's price or the minimum unit price, whichever is greater. Additionally, the markup applied by the department can be up to fifty percent of the wholesale price or the minimum unit price, again whichever is greater.

The bill also allows the department to increase the markup on certain types of alcoholic liquor if the average return on all sales does not exceed the wholesale price or the minimum unit price, along with the fifty percent markup. This change aims to ensure that the pricing structure remains fair and competitive while providing a clear definition of the minimum unit price for alcoholic beverages sold in Iowa.

Statutes affected:
Introduced: 123.24