89th General Assembly · Iowa Funnel one-pager · Monday, November 9, 2026
HF 2026: Exempting all retirement income from the individual income tax including retroactive applicability provisions
Died when the session ended · The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died.
What it does
This bill relates to the exclusion of retirement income from the computation of net income for purposes of the individual income tax. Under current law, a taxpayer may exclude all retirement pay, including certain survivor benefits, received from the federal government for military service performed in the armed forces, the armed forces military reserve, or national guard. In addition, a taxpayer who is disabled, who is at least years of age, or who is the surviving spouse or other specified survivor of that qualifying taxpayer, may exclude a maximum of $6,000 of other retirement income ($12,000 for married couples).
Sponsors
Not listed
Cost
See the fiscal note
The proposed pension and retirement income exemption is projected to reduce General Fund revenue by the amounts listed in the right column of the following table. The General Fund impact continues past FY 2028, increasing each year by the rate of growth in pen…
Lobbying · 8 for, 3 against
For: AARP Iowa; American Council of Engineering Companies; Iowa Central Community College; Iowa Motor Truck Association; Iowa Retired School Personnel Association; National Active & Retired Federal Employees; Older Iowans Legislature; Principal Financial Group
Against: Common Good Iowa; Rural School Advocates of Iowa; Urban Education Network of Iowa
In plain words
- January 13, 2022Filed in the House and sent to the Ways and Means committee
- January 31, 2022Cost estimate (fiscal note) posted
From public records at legis.iowa.gov, compiled by Iowa Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/89/HF2026