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House OKs tougher reporting for renewable fuel sales, with penalties for late filings
Summary
House File 2643 requires retail dealers to report renewable-fuel gallons and total gasoline/diesel gallons and increases penalties (loss of Iowa tax credits) for untimely filing; sponsors said the amendment is a stakeholder-driven cleanup and the bill passed as amended.
A representative from Plymouth described House File 2643 as a measure requiring retail dealers to report renewable-fuel gallons and total gasoline and diesel gallons sold or dispensed; the bill increases penalties for failing to file reports on time by subjecting repeat filers to loss of Iowa tax credits tied to renewable-fuel sales.
"This amendment is the result of working with renewable fuels and retailers to come up with a reasonable agreement, to provide things like extensions and final reporting due dates and other provisions with extreme circumstances," the sponsor said. The cleanup amendment passed by voice and supporters on the floor urged approval of the amended bill, which the house declared passed with an overwhelming majority.
Sponsors said the Department of Revenue needs accurate, timely data to administer the program and that the penalty change ensures compliance when current penalties do not deter violations.
