SF44 • 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.

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: 2025-01-22
Official status: Subcommittee: Dawson, Celsi, and Rowley. S.J. 125 .
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 relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.

What This Bill Does

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.

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

2025-01-22 Iowa Legislature
Subcommittee: Dawson, Celsi, and Rowley. S.J. 125 .
2025-01-15 Iowa Legislature
Introduced, referred to Ways and Means. S.J. 88 .

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.

Current Bill Text

Read the full stored bill text

Senate

File

44

-

Introduced

SENATE

FILE

44

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.

44

Section

1.

2022

Iowa

Acts,

chapter

1002,

section

53,

is

1

amended

to

read

as

follows:

2

SEC.

53.

PRESERVATION

OF

EXISTING

RIGHTS.

This

division

3

of

this

Act

is

not

intended

to

and

shall

not

limit,

modify,

or

4

otherwise

adversely

affect

any

amount

of

tax

credit

issued,

5

awarded,

or

allowed

prior

to

January

July

1,

2023,

nor

shall

it

6

limit,

modify,

or

otherwise

adversely

affect

a

taxpayer’s

right

7

to

claim

or

redeem

a

tax

credit

issued,

awarded,

or

allowed

8

prior

to

January

July

1,

2023,

including

but

not

limited

to

any

9

tax

credit

carryforward

amount.

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

During

the

2022

legislative

session,

House

File

2317

was

14

enacted

which

gradually

reduced

the

refundability

of

the

15

historic

preservation

tax

credit

commencing

with

the

tax

year

16

beginning

January

1,

2023,

until

75

percent

of

the

credit

in

17

excess

of

tax

liability

is

refundable

for

tax

years

beginning

18

on

or

after

January

1,

2027.

Previously,

the

tax

credit

19

was

100

percent

refundable.

House

File

2317

also

enacted

20

a

provision

preserving

existing

rights

to

the

tax

credit

21

issued,

awarded,

or

allowed

prior

to

January

1,

2023,

to

22

reduce

the

effect

House

File

2317

had

on

existing

tax

credits

23

being

awarded.

This

bill

expands

the

applicability

of

the

24

preservation

of

existing

rights

provision

from

January

1,

2023,

25

to

July

1,

2023,

to

tax

credits

issued,

awarded,

or

allowed

26

prior

to

July

1,

2023.

27

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