This bill amends existing Iowa law regarding the reporting of total gasoline and diesel fuel gallonage sold by retail dealers. It introduces new requirements for retail dealers to timely file reports as mandated by section 452A.33, specifically for the latest determination period before the close of their tax year. The bill adds new subparagraphs to sections 422.11O, 422.11P, and 422.11Y, which outline that failure to file these reports will result in ineligibility to claim associated tax credits for the current and any succeeding tax years until the report is submitted.

Additionally, the bill modifies section 452A.33 to impose a civil penalty of up to one hundred dollars for retail dealers who fail to file the required reports or maintain necessary records. It also clarifies that a retail dealer who does not file the report on time will be ineligible for tax credits related to E-85 gasoline promotion, biodiesel blended fuel, and E-15 plus gasoline promotion. This reporting is crucial for calculating excise taxes on ethanol blended gasoline and biodiesel fuels.

Statutes affected:
Introduced: 422.11O, 452A.33