Terms Used In Iowa Code 437A.16

  • Delivery: means the physical transfer of electricity or natural gas to a consumer. See Iowa Code 437A.3
  • Operating property: means all property owned by or leased to an electric company, electric cooperative, municipal utility, or natural gas company, not otherwise taxed separately, which is necessary to and without which the company could not perform the activities of an electric company, electric cooperative, municipal utility, or natural gas company. See Iowa Code 437A.3
  • property: includes personal and real property. See Iowa Code 4.1
  • Replacement tax: means the excise tax imposed on the generation, transmission, delivery, consumption, or use of electricity or natural gas under section 437A. See Iowa Code 437A.3
  • Transfer replacement tax: means the excise tax imposed in a competitive service area of a municipal utility which replaces transfers made by the municipal utility in accordance with section 384. See Iowa Code 437A.3
 All operating property and all other property that is primarily and directly used in the production, generation, transmission, or delivery of electricity or natural gas subject to replacement tax or transfer replacement tax is exempt from taxation except as otherwise provided by this chapter. This exemption shall not extend to taxes imposed under chapters 437, 438, and 468, taxpayers described in section 437A.8, subsection 6, or facilities or property described in section 437A.6, subsection 1, paragraphs “a” through “f”, and section 437A.7, subsection 3.
  Previous section
Next section  
 Chapter 437A Contents