Bills › 88th General Assembly
Relating to rural economic development by providing tax incentives for high-quality jobs in rural communities
Sponsored by the House Appropriations Committee
Topics:State budgetBusiness & economyTax credits & incentives
Where it is now
- Done: IntroducedFebruary 21, 2019
- Done: SubcommitteeFebruary 27, 2019
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary Iowa would offer tax breaks to businesses that create or keep good-paying jobs in small towns. These towns must have fewer than 30,000 people and be located in a county with fewer than 50,000 people. The amount of tax help a business receives depends on how much money they invest and how many high-paying jobs they provide.1
Read the official explanation
This bill relates to rural economic development by providing tax incentives for high quality jobs in rural communities.335A. The bill defines “rural community” to mean any city located in this state with a population of 30,000 or less in a county with a population of 50,000 or less. A rural community located in more than one county is considered to be located in the county having the greatest taxable base within the city. The tax incentives for an eligible business investing in a rural community varies under the bill based upon the number of jobs created or retained that pay at least 110 percent of the qualifying wage threshold and the qualifying investment made in the rural community by the eligible business. 335B. In providing such assistance for programs and projects the bill specifies the economic development authority shall consider the amount and type of the local community match as follows: in a community with a population of less than 5,000, a match is not required; if the population is equal to or greater than 5,000 but less than 15,000, a match of at least percent of the projected funds to be expended is required; if the population is equal to or greater than 15,000 but less than 30,000, a match of at least percent of the projected funds to be expended is required; and if the population is equal to or greater than 30,000, a match of at least percent of the projected funds to be expended is required.
Iowa Code it changes
Lobbying
9 for · 0 against · 29 undecided · Who →
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88th General Assembly