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House
File
211
-
Introduced
HOUSE
FILE
211
BY
WHEELER
A
BILL
FOR
An
Act
creating
a
radon
mitigation
system
tax
credit
available
1
against
the
individual
and
corporate
income
taxes,
and
2
including
retroactive
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
2320YH
(2)
91
jm/jh
H.F.
211
Section
1.
NEW
SECTION
.
422.10C
Radon
mitigation
system
1
tax
credit.
2
1.
As
used
in
this
section,
“radon
mitigation
system”
means
3
a
system
designed
to
reduce
radon
concentrations
in
the
indoor
4
air
of
a
building
that
has
been
installed.
5
2.
The
taxes
imposed
under
this
subchapter,
less
the
credits
6
allowed
under
section
422.12,
shall
be
reduced
by
a
radon
7
mitigation
system
tax
credit
equal
to
the
amount
to
purchase
8
and
install
a
radon
mitigation
system,
not
to
exceed
one
9
thousand
dollars.
10
3.
An
individual
may
claim
the
tax
credit
allowed
a
11
partnership,
limited
liability
company,
S
corporation,
estate,
12
or
trust
electing
to
have
the
income
taxed
directly
to
the
13
individual.
The
amount
claimed
by
the
individual
shall
be
14
based
upon
the
pro
rata
share
of
the
individual’s
earnings
of
15
the
partnership,
limited
liability
company,
S
corporation,
16
estate,
or
trust.
17
4.
Any
credit
in
excess
of
the
taxpayer’s
tax
liability
18
for
the
tax
year
is
not
refundable
but
the
excess
for
the
tax
19
year
may
be
credited
to
the
tax
liability
for
the
following
tax
20
year.
21
Sec.
2.
Section
422.33,
Code
2025,
is
amended
by
adding
the
22
following
new
subsection:
23
NEW
SUBSECTION
.
11.
a.
The
taxes
imposed
under
this
24
subchapter
shall
be
reduced
by
a
radon
mitigation
system
tax
25
credit
equal
to
the
amount
to
purchase
and
install
a
radon
26
mitigation
system,
not
to
exceed
one
thousand
dollars.
27
b.
The
taxpayer
may
claim
the
credit
pursuant
to
this
28
subsection
according
to
the
same
requirements,
conditions,
and
29
limitations
as
provided
pursuant
to
section
422.10C.
30
Sec.
3.
RETROACTIVE
APPLICABILITY.
This
Act
applies
31
retroactively
to
January
1,
2025,
for
tax
years
beginning
on
32
or
after
that
date.
33
EXPLANATION
34
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
35
-1-
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2320YH
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H.F.
211
the
explanation’s
substance
by
the
members
of
the
general
assembly.
1
This
bill
creates
a
radon
mitigation
system
tax
credit
2
(credit)
available
against
the
individual
and
corporate
income
3
taxes.
4
The
bill
defines
“radon
mitigation
system”
to
mean
a
system
5
designed
to
reduce
radon
concentrations
in
the
indoor
air
of
a
6
building
that
has
been
installed.
7
The
credit
is
equal
to
the
amount
of
the
cost
to
purchase
and
8
install
the
radon
mitigation
system,
not
to
exceed
$1,000.
Any
9
credit
in
excess
of
the
taxpayer’s
liability
is
not
refundable
10
but
may
be
credited
to
the
tax
liability
for
the
following
tax
11
year.
12
The
bill
applies
retroactively
to
January
1,
2025,
for
tax
13
years
beginning
on
or
after
that
date.
14
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(2)
91
jm/jh
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2