Relating to certain tax credits awarded by the economic development authority for equity investments in qualifying businesses or innovation funds and including effective date provisions

Sponsored by the Senate Ways and Means (successor To Ssb 1156) (companion To Hf 339 By Committee on Ways and Means) Committee

Topics:Business & economy Taxes Tax credits & incentives

Same legislation: HSB 84, HF 339, SSB 1156, SF 321

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Official bill page Lobbyist declarations One-pager to print

Where it is now

Done: IntroducedFebruary 11, 2019
Done: SubcommitteeFebruary 21, 2019
Done: Senate committeeFebruary 20, 2019
Stopped: Passes the SenateDied when the General Assembly ended
Skipped: House committeeSkipped
Done: Passes the HouseApril 25, 2019
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

This bill relates to certain tax credits awarded by the economic development authority for equity investments in a qualifying business or innovation fund. The bill directs the economic development authority to determine on or before June of each year the amount of tax credits that will be issued for the following fiscal year for equity investments in qualifying businesses pursuant to Code section 15E.43 and in innovation funds pursuant to Code section 15E.52. The bill caps the aggregate amount of these tax credits at $10 million. The bill takes effect upon enactment.

Changed since by amendment H-1310; see Amendments.

Full bill text¹

Fiscal note

9 million in future fiscal years.

Investor and Innovation Fund Investment Tax Credit Allocations · April 26, 2019
Investor and Innovation Fund Investment Tax Credit Allocations · March 21, 2019
Investor and Innovation Fund Investment Tax Credit Allocations · February 20, 2019
Investor and Innovation Fund Investment Tax Credit Allocations · February 15, 2019

Reading a fiscal note²

Iowa Code it changes

Amends§15.119

How the Code works³

Lobbying

12 for · 0 against · 14 undecided · Who →

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Study bill

HSB 84Cleared committee SSB 1156Cleared committee

88th General Assembly

HF 339Passed a chamberHouse companion SF 321RenumberedSenate companion SF 598Cleared committeefrom SF 321

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