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Bills › 88th General Assembly

HSB 671Died when the session ended · March 11, 2020

HSB 671

Topics:Business & economyTaxesTax credits & incentives

Same legislation: HF 2638

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Also covers HF 2638.

Official bill pageLobbyist declarationsOne-pager to print

Where it is now

  1. Done: IntroducedJune 9, 2020
  2. Done: SubcommitteeFebruary 11, 2020
  3. Done: House committeeMarch 11, 2020
  4. Stopped: Passes the HouseDied when the General Assembly ended
  5. Next: Senate committee
  6. Next: Passes the Senate
  7. Next: To the Governor
  8. 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 The Iowa economic development authority must decide each year how much money can be given out in tax credits for certain business investments. These tax credits are limited to a total of $10 million. The bill also changes how the maximum amount of credits an individual or family can receive is calculated by switching from a calendar year to a fiscal year.1

Read the official explanation

This bill relates to certain tax credits awarded by the economic development authority for equity investments in a qualifying business or innovation fund.52. The bill caps the aggregate amount of these tax credits at $10 million. The bill changes the maximum amount of tax credits that may be issued in a year to a natural person and the person’s spouse or dependant, or for equity investments in any one qualifying business, from a calendar year basis to a fiscal year basis. The bill takes effect upon enactment.

Full bill text2

House subcommittee

Named February 11, 2020. On March 10, 2020 it recommended passage.

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Iowa Code it changes

Amends§15.119§15E.43

How the Code works3

Lobbying

10 for · 0 against · 3 undecided · Who →

Family tree

Study bill

HSB 671Cleared committee

88th General Assembly

HF 2638Cleared committee

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