This bill amends existing Iowa law to credit excise taxes imposed on the sale of aircraft directly to the state aviation fund, rather than the general fund. Specifically, it modifies Section 328.56 to include the excise tax revenue from Section 423.43 and adds a new subsection to Section 423.43 that mandates all revenues from the excise tax on aircraft purchases be allocated to the state aviation fund. This fund is utilized by the Department of Transportation for various aviation-related projects, including airport engineering studies, construction, improvements, and marketing efforts at commercial service airports.

Additionally, the bill updates the language in Section 423.43 to clarify the allocation of use tax revenues, ensuring that the excise tax from aircraft sales is specifically credited to the aviation fund. The changes aim to enhance funding for aviation infrastructure and services in Iowa, supporting the state's transportation needs and promoting the aviation sector.

Statutes affected:
Introduced: 328.56, 328.36, 423.43