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House
File
625
-
Introduced
HOUSE
FILE
625
BY
SIECK
,
SMITH
,
THOMPSON
,
MOMMSEN
,
SHIPLEY
,
DUNWELL
,
KURTH
,
SIEGRIST
,
WENGRYN
,
GUSTOFF
,
and
JENEARY
A
BILL
FOR
An
Act
providing
for
the
future
repeal
of
tax
credits.
1
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
2
TLSB
2108YH
(9)
91
jm/jh
H.F.
625
DIVISION
I
1
FUTURE
REPEAL
OF
EXISTING
TAX
CREDITS
2
Section
1.
Section
15.322,
Code
2025,
is
amended
to
read
as
3
follows:
4
15.322
Future
repeal.
5
Sections
15.315
,
15.316
,
15.317
,
15.318
,
15.319
,
15.320
,
6
15.321
,
and
this
section
,
are
repealed
July
1,
2039
January
1,
7
2031
.
8
Sec.
2.
NEW
SECTION
.
15.337
Future
repeal.
9
Sections
15.331A,
15.331C,
15.333,
15.333A,
and
15.335,
are
10
repealed
January
1,
2029.
11
Sec.
3.
NEW
SECTION
.
15E.47
Future
repeal.
12
Sections
15E.41,
15E.42,
15E.43,
15E.44,
15E.46,
and
this
13
section
are
repealed
January
1,
2031.
14
Sec.
4.
Section
15E.52,
Code
2025,
is
amended
by
adding
the
15
following
new
subsection:
16
NEW
SUBSECTION
.
14.
This
section
is
repealed
on
January
1,
17
2027.
18
Sec.
5.
Section
15E.305,
Code
2025,
is
amended
by
adding
the
19
following
new
subsection:
20
NEW
SUBSECTION
.
5.
This
section
is
repealed
January
1,
21
2027.
22
Sec.
6.
Section
16.81,
Code
2025,
is
amended
by
adding
the
23
following
new
subsection:
24
NEW
SUBSECTION
.
7.
This
section
is
repealed
on
January
1,
25
2028.
26
Sec.
7.
Section
237A.31,
Code
2025,
is
amended
by
adding
the
27
following
new
subsection:
28
NEW
SUBSECTION
.
5.
This
section
is
repealed
January
1,
29
2029.
30
Sec.
8.
Section
260E.5,
Code
2025,
is
amended
by
adding
the
31
following
new
subsection:
32
NEW
SUBSECTION
.
7.
This
section
is
repealed
on
January
1,
33
2027.
34
Sec.
9.
Section
260G.4A,
Code
2025,
is
amended
by
adding
the
35
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following
new
subsection:
1
NEW
SUBSECTION
.
7.
This
section
is
repealed
on
January
1,
2
2031.
3
Sec.
10.
Section
260J.1,
unnumbered
paragraph
1,
Code
2025,
4
is
amended
to
read
as
follows:
5
In
order
to
promote
the
creation
of
additional
high-quality
6
new
jobs
within
the
state,
an
agreement
under
section
260E.3
7
may
include
a
provision
for
a
supplemental
new
jobs
credit
from
8
withholding
from
jobs
created
under
the
agreement.
A
This
9
section
is
repealed
January
1,
2027;
however,
until
such
time
a
10
provision
in
an
agreement
for
which
a
supplemental
credit
from
11
withholding
is
included
shall
provide
for
the
following:
12
Sec.
11.
Section
403.19A,
Code
2025,
is
amended
by
adding
13
the
following
new
subsection:
14
NEW
SUBSECTION
.
4.
This
section
is
repealed
on
January
1,
15
2028.
16
Sec.
12.
NEW
SECTION
.
404A.7
Future
repeal.
17
This
chapter
is
repealed
January
1,
2029.
18
Sec.
13.
Section
422.10,
Code
2025,
is
amended
by
adding
the
19
following
new
subsection:
20
NEW
SUBSECTION
.
7.
This
section
is
repealed
on
January
1,
21
2027.
22
Sec.
14.
Section
422.10B,
Code
2025,
is
amended
to
read
as
23
follows:
24
422.10B
Renewable
chemical
production
tax
credit.
25
The
taxes
imposed
under
this
subchapter
,
less
the
credits
26
allowed
under
section
422.12
,
shall
be
reduced
by
a
renewable
27
chemical
production
tax
credit
allowed
under
section
15.319
.
28
This
section
is
repealed
January
1,
2041
2031
.
29
Sec.
15.
Section
422.11A,
Code
2025,
is
amended
by
adding
30
the
following
new
subsection:
31
NEW
SUBSECTION
.
4.
This
section
is
repealed
January
1,
32
2027.
33
Sec.
16.
Section
422.11L,
Code
2025,
is
amended
by
adding
34
the
following
new
subsection:
35
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NEW
SUBSECTION
.
8.
This
section
is
repealed
on
January
1,
1
2028.
2
Sec.
17.
Section
422.11S,
Code
2025,
is
amended
by
adding
3
the
following
new
subsection:
4
NEW
SUBSECTION
.
10.
This
section
is
repealed
on
January
1,
5
2029.
6
Sec.
18.
Section
422.11W,
Code
2025,
is
amended
by
adding
7
the
following
new
subsection:
8
NEW
SUBSECTION
.
5.
This
section
is
repealed
on
January
1,
9
2029.
10
Sec.
19.
Section
422.12,
Code
2025,
is
amended
by
adding
the
11
following
new
subsection:
12
NEW
SUBSECTION
.
4.
This
section
is
repealed
January
1,
13
2031.
14
Sec.
20.
Section
422.12A,
Code
2025,
is
amended
by
adding
15
the
following
new
subsection:
16
NEW
SUBSECTION
.
6.
This
section
is
repealed
January
1,
17
2027.
18
Sec.
21.
Section
422.12B,
Code
2025,
is
amended
by
adding
19
the
following
new
subsection:
20
NEW
SUBSECTION
.
3.
This
section
is
repealed
January
1,
21
2028.
22
Sec.
22.
Section
422.12C,
Code
2025,
is
amended
by
adding
23
the
following
new
subsection:
24
NEW
SUBSECTION
.
5.
This
section
is
repealed
January
1,
25
2029.
26
Sec.
23.
Section
422.12N,
subsection
7,
Code
2025,
is
27
amended
to
read
as
follows:
28
7.
This
section
is
repealed
January
1,
2034
2030
.
29
Sec.
24.
Section
422.12P,
Code
2025,
is
amended
by
adding
30
the
following
new
subsection:
31
NEW
SUBSECTION
.
7.
This
section
is
repealed
January
1,
32
2031.
33
Sec.
25.
Section
422.33,
subsection
5,
Code
2025,
is
amended
34
by
adding
the
following
new
paragraph:
35
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NEW
PARAGRAPH
.
j.
This
subsection
is
repealed
on
January
1
1,
2027.
2
Sec.
26.
Section
422.33,
subsection
9,
Code
2025,
is
amended
3
by
adding
the
following
new
paragraph:
4
NEW
PARAGRAPH
.
d.
This
subsection
is
repealed
on
January
5
1,
2028.
6
Sec.
27.
Section
422.33,
subsection
25,
Code
2025,
is
7
amended
by
adding
the
following
new
paragraph:
8
NEW
PARAGRAPH
.
d.
This
subsection
is
repealed
on
January
9
1,
2029.
10
Sec.
28.
Section
425.1,
Code
2025,
is
amended
by
adding
the
11
following
new
subsection:
12
NEW
SUBSECTION
.
7.
This
section
is
repealed
January
1,
13
2030.
14
Sec.
29.
Section
425.16,
Code
2025,
is
amended
by
adding
the
15
following
new
subsection:
16
NEW
SUBSECTION
.
3.
This
section
is
repealed
January
1,
17
2031.
18
Sec.
30.
NEW
SECTION
.
426.11
Future
repeal.
19
This
chapter
is
repealed
January
1,
2031.
20
Sec.
31.
NEW
SECTION
.
476B.11
Future
repeal.
21
This
chapter
is
repealed
effective
January
1,
2027.
22
Sec.
32.
NEW
SECTION
.
476C.8
Future
repeal.
23
This
chapter
is
repealed
effective
January
1,
2028.
24
Sec.
33.
PRESERVATION
OF
EXISTING
RIGHTS.
25
1.
This
division
of
this
Act
is
not
intended
to
and
shall
26
not
limit,
modify,
or
otherwise
adversely
affect
any
amount
27
of
tax
credit
issued,
awarded,
or
allowed
prior
to
January
1,
28
2031,
nor
shall
it
limit,
modify,
or
otherwise
adversely
affect
29
a
taxpayer’s
right
to
claim
or
redeem
a
tax
credit
issued,
30
awarded,
or
allowed
prior
to
January
1,
2031,
including
but
not
31
limited
to
any
tax
credit
carryforward
amount.
32
2.
The
repeal
of
a
provision
of
law
pursuant
to
this
33
division
of
this
Act
shall
not
constitute
grounds
for
34
rescission
or
modification
of
agreements
entered
into
under
35
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those
provisions
of
law,
if
any.
Any
agreement
entered
into
1
prior
to
January
1,
2031,
under
a
provision
of
law
repealed
2
in
this
division
of
this
Act,
shall
remain
in
effect
until
3
it
expires
under
its
own
terms,
and
shall
be
governed
by
the
4
applicable
provisions
of
law
as
they
existed
immediately
prior
5
to
January
1,
2031.
6
Sec.
34.
CORRESPONDING
AMENDMENTS
LEGISLATION.
Additional
7
legislation
is
required
to
fully
implement
this
division
of
8
this
Act.
The
director
of
the
department
of
revenue
shall,
in
9
compliance
with
section
2.16,
prepare
draft
legislation
for
10
submission
to
the
legislative
services
agency,
as
necessary,
to
11
implement
the
repeal
of
the
tax
credits
under
this
division
of
12
this
Act
and
under
other
provisions
of
law.
13
DIVISION
II
14
FUTURE
REPEAL
OF
FUTURE
TAX
CREDIT
PROGRAMS
15
Sec.
35.
NEW
SECTION
.
422.3A
Future
tax
credit
repeal.
16
1.
For
purposes
of
this
section,
“tax
credit
program”
means
17
any
provision
of
law
enacted
by
the
general
assembly
that
18
provides
for
an
amount
of
money
against
the
taxes
imposed
in
19
this
chapter,
chapter
432,
or
in
section
533.329.
20
2.
Notwithstanding
any
other
provision
of
law
to
the
21
contrary,
any
tax
credit
program
enacted
by
the
general
22
assembly
that
takes
effect
on
or
after
January
1,
2026,
is
23
repealed
on
January
1
of
the
sixth
year
following
the
effective
24
date
of
the
tax
credit
program,
unless
another
provision
of
the
25
Code
provides
for
an
earlier
repeal
date.
26
3.
The
repeal
of
a
tax
credit
program
pursuant
to
subsection
27
2
is
not
intended
to
and
shall
not
limit,
modify,
or
otherwise
28
adversely
affect
any
amount
of
tax
credit
issued,
awarded,
or
29
allowed
prior
to
the
effective
date
of
the
tax
credit
program
30
repeal
pursuant
to
subsection
2,
nor
shall
it
limit,
modify,
31
or
otherwise
adversely
affect
a
taxpayer’s
right
to
claim
or
32
redeem
a
tax
credit
issued,
awarded,
or
allowed
prior
to
the
33
effective
date
of
the
tax
credit
program
repeal
pursuant
to
34
subsection
2,
including
but
not
limited
to
any
tax
credit
35
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carryforward
amount.
1
4.
The
repeal
of
a
tax
credit
program
pursuant
to
subsection
2
2
shall
not
constitute
grounds
for
rescission
or
modification
3
of
agreements
entered
into
under
the
tax
credit
program,
if
4
any.
Any
agreement
entered
into
under
a
tax
credit
program
5
prior
to
the
effective
date
of
the
repeal
of
the
tax
credit
6
program
under
subsection
2
shall
remain
in
effect
until
it
7
expires
under
its
own
terms,
and
shall
be
governed
by
the
tax
8
credit
program
as
it
existed
prior
to
its
repeal
pursuant
to
9
subsection
2.
10
EXPLANATION
11
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
12
the
explanation’s
substance
by
the
members
of
the
general
assembly.
13
This
bill
provides
for
the
future
repeal
of
certain
existing
14
state
income
and
property
tax
credits,
and
provides
for
the
15
future
repeal
of
tax
credits
enacted
by
the
general
assembly
16
in
the
future.
17
DIVISION
I
——
FUTURE
REPEAL
OF
EXISTING
TAX
CREDITS.
18
Division
I
repeals
tax
credits
on
a
rolling
basis
over
a
19
five-year
period
beginning
January
1,
2027,
through
January
20
1,
2031.
The
bill
repeals
the
following
tax
credits
that
21
currently
have
no
repeal
date:
the
accelerated
career
22
education
program
job
tax
credit;
the
beginning
farmer
tax
23
credit;
the
assistive
device
corporate
tax
credit;
the
sales
24
and
use
tax
refund,
corporate
tax
credit
for
certain
sales
25
taxes
paid
by
third-party
developers,
investment
tax
credit,
26
insurance
premiums
tax
credit,
and
supplemental
research
27
activities
tax
credit
available
under
the
high
quality
jobs
28
program;
the
school
tuition
organization
tax
credit;
the
solar
29
energy
system
tax
credit;
the
innovation
fund
investment
30
tax
credit;
the
tax
credit
for
investments
in
a
qualifying
31
business;
the
wind
energy
production
tax
credit;
the
charitable
32
conservation
contribution
tax
credit;
the
new
jobs
credits
33
from
withholding
available
under
the
Iowa
industrial
new
34
job
training
program;
the
research
activities
credits;
the
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renewable
energy
tax
credit;
the
targeted
jobs
withholding
1
tax
credit;
employer
child
care
tax
credit;
endow
Iowa
tax
2
credit;
historic
preservation
tax
credit;
new
jobs
tax
credit;
3
emergency
personnel
and
tuition
textbook
tax
credits;
adoption
4
tax
credit;
earned
income
tax
credit;
child
and
dependent
care
5
or
early
childhood
development
tax
credit;
geothermal
heat
pump
6
tax
credit;
public
safety
officer
moving
expense
tax
credit;
7
homestead
tax
credit;
elderly
and
disabled
property
tax
credit
8
or
reimbursement;
and
the
agricultural
land
credit.
9
The
bill
amends
the
repeal
date
of
the
renewable
chemical
10
production
tax
credit
from
January
1,
2039,
to
January
1,
2031.
11
The
bill
provides
that
the
repeal
of
a
tax
credit
shall
12
not
affect
tax
credits
issued,
awarded,
or
allowed
prior
to
13
January
1,
2031,
or
affect
a
taxpayer’s
ability
to
claim
or
14
redeem
such
tax
credits,
including
but
not
limited
to
any
tax
15
credit
carryforward
amount,
and
further
provides
that
the
bill
16
shall
not
constitute
grounds
for
rescission
or
modification
17
of
agreements
entered
into
for
a
tax
credit,
and
that
such
18
agreements
shall
remain
in
effect
until
they
expire
under
their
19
own
terms
and
shall
be
governed
by
the
applicable
provisions
of
20
law
as
they
existed
immediately
prior
to
January
1,
2031.
21
The
bill
provides
that
additional
legislation
is
required
to
22
fully
implement
the
repeal
of
these
tax
credits
and
requires
23
the
director
of
the
department
of
revenue
to
prepare
draft
24
legislation
in
compliance
with
Code
section
2.16
for
submission
25
to
the
legislative
services
agency
to
implement
the
repeal
of
26
the
tax
credits.
27
DIVISION
II
——
FUTURE
REPEAL
OF
FUTURE
TAX
CREDIT
PROGRAMS.
28
Division
II
provides
that
any
tax
credit
program
available
29
against
the
individual
or
corporate
income
tax,
the
franchise
30
tax,
the
insurance
premiums
tax,
or
the
moneys
and
credits
tax,
31
enacted
by
the
general
assembly
on
or
after
January
1,
2026,
32
is
repealed
after
five
years,
unless
another
provision
of
law
33
provides
for
an
earlier
repeal
date.
34
The
bill
provides
that
the
repeal
of
a
tax
credit
program
35
-7-
LSB
2108YH
(9)
91
jm/jh
7/
8
H.F.
625
pursuant
to
this
provision
shall
not
affect
the
tax
credits
or
1
tax
credit
agreements
entered
into
prior
to
the
repeal
of
the
2
tax
credit
program
in
the
same
manner
as
described
above
for
3
the
repeal
of
the
existing
tax
credits.
4
-8-
LSB
2108YH
(9)
91
jm/jh
8/
8