Iowa Administrative Code › Agency 701 - Revenue Department › Title III - Sales, Use, and Excise Tax › Chapter 275 - Rebate of Iowa Sales Tax Paid › Rule 701-275.1 - Sanctioned Automobile Racetrack Facilities

Current through Register Vol. 47, No. 3, July 24, 2024
Iowa Code section
				  423.4(5) 
				  provides for rebates of qualifying sales made at sanctioned automobile
				  racetrack facilities. Definitions of key terms may be found in Iowa Code
				  section 423.4(5)
"a."
(1)
Affidavit by owner or operator.
The owner or operator of an
				automobile racetrack facility seeking a rebate allowed under Iowa Code section
				423.4(5)  of
				the sales tax imposed and collected by retailers upon sales of tangible
				personal property or services furnished to purchasers at the automobile
				racetrack facility must file with the department the following affidavit
				certifying that qualifications for the rebate have been met:
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The undersigned duly swears that the named Automobile
				  Racetrack Facility complies with criteria to be entitled to rebate of sales tax
				  as required in Iowa Code section
				  423.4 as follows:
a. The facility is sanctioned as an
				automobile racetrack facility;
b.
				The sanctioned automobile racetrack facility is located as part of a racetrack
				and entertainment complex, including any museum attached to or included in the
				sanctioned automobile racetrack facility, but excluding any
				restaurant;
c. The sanctioned
				automobile racetrack facility has not and will not receive any grants under the
				community attraction and tourism program pursuant to Iowa Code chapter 15F,
				subchapter II, or the vision Iowa program pursuant to Iowa Code chapter 15F,
				subchapter III;
d. The sanctioned
				automobile racetrack facility is located on a maximum of 232 acres of Iowa
				land;
e. The sanctioned automobile
				racetrack facility is located in a city with a population, as defined by this
				rule, of at least 14,500, but not more than 16,500;
f. The city in which the sanctioned
				automobile racetrack facility is located is in a county with a population, as
				defined by this rule, of at least 35,000, but no more than 40,000;
g. Construction of the sanctioned automobile
				racetrack facility was commenced on or before July 1, 2006;
h. Cost of construction of the automobile
				racetrack facility upon completion is at least $35 million; and
i. There has not been a "change of control"
				as defined in the rules governing this program regarding the legal ownership or
				operation of the automobile racetrack facility.
The undersigned duly swears that he or she is the owner or
				  operator of the sanctioned automobile racetrack facility or that the
				  undersigned is the authorized representative of the sanctioned automobile
				  racetrack facility and has the authority to sign this document. The undersigned
				  swears that he or she has personal knowledge regarding the facts contained in
				  this affidavit and that the statements set forth in this affidavit are true and
				  accurate and that the sanctioned automobile racetrack facility has met all of
				  the requirements as contained herein.
Name of Affiant Date Position of
				  Affiant