HF567 • 2026

A bill for an act excluding the net capital gain from the sale of gold or silver from the calculations of Iowa net income for purposes of the individual income tax, and including effective date and retroactive applicability provisions.

Taxes

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: SHIPLEY
Last action: 2025-03-26
Official status: Subcommittee recommends passage.
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

A bill for an act excluding the net capital gain from the sale of gold or silver from the calculations of Iowa net income for purposes of the individual income tax, and including effective date and retroactive applicability provisions.

What This Bill Does

A bill for an act excluding the net capital gain from the sale of gold or silver from the calculations of Iowa net income for purposes of the individual income tax, and including effective date and retroactive applicability provisions.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2025-03-26 Iowa Legislature
Subcommittee recommends passage.
2025-03-19 Iowa Legislature
Subcommittee Meeting: 03/26/2025 12:00PM House Lounge 2.
2025-03-18 Iowa Legislature
Subcommittee: Boden, McBurney and Wills, J. H.J. 719 .
2025-02-24 Iowa Legislature
Introduced, referred to Ways and Means. H.J. 415 .

Official Summary Text

A bill for an act excluding the net capital gain from the sale of gold or silver from the calculations of Iowa net income for purposes of the individual income tax, and including effective date and retroactive applicability provisions.

Current Bill Text

Read the full stored bill text

House

File

567

-

Introduced

HOUSE

FILE

567

BY

SHIPLEY

A

BILL

FOR

An

Act

excluding

the

net

capital

gain

from

the

sale

of

gold

or

1

silver

from

the

calculations

of

Iowa

net

income

for

purposes

2

of

the

individual

income

tax,

and

including

effective

date

3

and

retroactive

applicability

provisions.

4

BE

IT

ENACTED

BY

THE

GENERAL

ASSEMBLY

OF

THE

STATE

OF

IOWA:

5

TLSB

2682YH

(2)

91

jm/jh

H.F.

567

Section

1.

Section

422.7,

Code

2025,

is

amended

by

adding

1

the

following

new

subsection:

2

NEW

SUBSECTION

.

45.

a.

Subtract

the

net

capital

gain

from

3

the

sale

of

gold

or

silver.

4

b.

Married

individuals

who

file

separate

state

income

5

tax

returns

shall

allocate

their

combined

annual

net

capital

6

gain

exclusion

under

this

subsection

to

each

spouse

in

the

7

proportion

that

each

spouse’s

respective

net

capital

gain

bears

8

to

the

total

net

capital

gain.

9

c.

As

used

in

this

subsection,

“gold

or

silver”

means

bars,

10

coins,

ingots,

or

commemorative

medallions

of

gold

or

silver,

11

or

pure

gold

or

silver

in

any

form.

12

Sec.

2.

EFFECTIVE

DATE.

This

Act,

being

deemed

of

immediate

13

importance,

takes

effect

upon

enactment.

14

Sec.

3.

RETROACTIVE

APPLICABILITY.

This

Act

applies

15

retroactively

to

January

1,

2025,

for

tax

years

beginning

on

16

or

after

that

date.

17

EXPLANATION

18

The

inclusion

of

this

explanation

does

not

constitute

agreement

with

19

the

explanation’s

substance

by

the

members

of

the

general

assembly.

20

This

bill

excludes

the

net

capital

gain

from

the

sale

of

gold

21

or

silver

from

the

calculation

of

Iowa

net

income

for

purposes

22

of

the

individual

income

tax.

23

The

bill

defines

“gold

or

silver”

to

mean

bars,

coins,

24

ingots,

or

commemorative

medallions

of

gold

or

silver,

or

pure

25

gold

or

silver

in

any

form.

26

The

bill

takes

effect

upon

enactment

and

applies

27

retroactively

to

tax

years

beginning

on

or

after

January

1,

28

2025.

29

-1-

LSB

2682YH

(2)

91

jm/jh

1/

1