SF170 • 2026

A bill for an act relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.(See SF 653 .)

Taxes

Passed Legislature

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

Sponsor: LOFGREN
Last action: 2025-05-09
Official status: Committee report approving bill, renumbered as SF 653 . S.J. 955 .
Effective date: Not listed

Plain English Breakdown

The bill summary and digest do not provide specific details on how the expanded protections will affect new applications for historic preservation tax credits after July 1, 2023.

Historic Preservation Tax Credit Act

This act modifies the historic preservation tax credit to protect existing rights and amounts for taxpayers who received credits before July 1, 2023.

What This Bill Does

Amends the law to ensure that any amount of tax credit issued, awarded, or allowed prior to July 1, 2023 is not limited, modified, or adversely affected.
Protects taxpayers' rights to claim or redeem a tax credit issued, awarded, or allowed before July 1, 2023, including carryforward amounts.

Who It Names or Affects

Taxpayers who received historic preservation tax credits before July 1, 2023
Individuals and corporations that claim the historic preservation tax credit

Terms To Know

Historic Preservation Tax Credit: A financial benefit given to individuals or businesses for preserving historical buildings or sites.
Carryforward Amount: The remaining tax credit amount that can be used in future years if not fully claimed in the current year.

Limits and Unknowns

Does not specify how the expanded protections will affect new applications for historic preservation tax credits after July 1, 2023.
Does not provide details on enforcement or penalties for non-compliance with the act.

Bill History

2025-05-09 Iowa Legislature
Committee report approving bill, renumbered as SF 653 . S.J. 955 .
2025-05-09 Iowa Legislature
Subcommittee recommends passage.
2025-05-08 Iowa Legislature
Subcommittee Meeting: 05/09/2025 8:30AM Senate Lounge.
2025-02-11 Iowa Legislature
Subcommittee: Dawson, Bisignano, and Rowley. S.J. 243 .
2025-01-30 Iowa Legislature
Introduced, referred to Ways and Means. S.J. 168 .

Official Summary Text

A bill for an act relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.(See SF 653 .)

Current Bill Text

Read the full stored bill text

Senate

File

170

-

Introduced

SENATE

FILE

170

BY

LOFGREN

A

BILL

FOR

An

Act

relating

to

the

historic

preservation

tax

credit

1

available

against

the

individual

and

corporate

income

taxes,

2

the

franchise

tax,

and

the

insurance

premiums

tax.

3

BE

IT

ENACTED

BY

THE

GENERAL

ASSEMBLY

OF

THE

STATE

OF

IOWA:

4

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S.F.

170

Section

1.

2022

Iowa

Acts,

chapter

1002,

section

53,

is

1

amended

to

read

as

follows:

2

SEC.

53.

PRESERVATION

OF

EXISTING

RIGHTS.

3

1.

This

Except

as

provided

in

subsection

2,

this

division

4

of

this

Act

is

not

intended

to

and

shall

not

limit,

modify,

or

5

otherwise

adversely

affect

any

amount

of

tax

credit

issued,

6

awarded,

or

allowed

prior

to

January

1,

2023,

nor

shall

it

7

limit,

modify,

or

otherwise

adversely

affect

a

taxpayer’s

right

8

to

claim

or

redeem

a

tax

credit

issued,

awarded,

or

allowed

9

prior

to

January

1,

2023,

including

but

not

limited

to

any

tax

10

credit

carryforward

amount.

11

2.

The

section

of

this

division

of

this

Act

amending

the

12

historic

preservation

tax

credit

is

not

intended

to

and

shall

13

not

limit,

modify,

or

otherwise

adversely

affect

any

amount

of

14

the

tax

credit

issued,

awarded,

or

allowed

prior

to

July

1,

15

2023,

nor

shall

it

limit,

modify,

or

otherwise

adversely

affect

16

a

taxpayer’s

right

to

claim

or

redeem

the

tax

credit

issued,

17

awarded,

or

allowed

prior

to

July

1,

2023,

including

but

not

18

limited

to

any

tax

credit

carryforward

amount.

19

EXPLANATION

20

The

inclusion

of

this

explanation

does

not

constitute

agreement

with

21

the

explanation’s

substance

by

the

members

of

the

general

assembly.

22

During

the

2022

legislative

session,

House

File

2317

was

23

enacted

which

gradually

reduced

the

refundability

of

the

24

historic

preservation

tax

credit

commencing

with

the

tax

year

25

beginning

January

1,

2023,

until

75

percent

of

the

credit

in

26

excess

of

tax

liability

is

refundable

for

tax

years

beginning

27

on

or

after

January

1,

2027.

Previously,

the

tax

credit

28

was

100

percent

refundable.

House

File

2317

also

enacted

29

a

provision

preserving

existing

rights

to

the

tax

credit

30

issued,

awarded,

or

allowed

prior

to

January

1,

2023,

to

31

reduce

the

effect

House

File

2317

had

on

existing

tax

credits

32

being

awarded.

This

bill

expands

the

applicability

of

the

33

preservation

of

existing

rights

provision

from

January

1,

2023,

34

to

July

1,

2023,

to

historic

preservation

tax

credits

issued,

35

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awarded,

or

allowed

prior

to

July

1,

2023.

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