Bills › 89th General Assembly
Reducing the state sales and use tax rates and including effective date provisions
Topics:Taxes
Where it is now
- Done: IntroducedFebruary 10, 2022
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committee
- 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 2022 session adjourned on May 24, 2022, 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 is lowering the state sales and use tax rates for people buying goods and services. The tax rate drops to 1.5 percent starting in 2023, and then it will drop again to 0.5 percent in 2051. This second decrease happens because a specific education fund will end at that time.1
Read the official explanation
Currently, the state sales and use tax rates are set at percent. In the future, the state sales and use tax rates are reduced from percent to percent beginning January 1, 2051, due to the repeal of the secure an advanced vision for education fund (SAVE). This bill reduces the state sales and use tax rates from percent to 1.5 percent beginning January 1, 2023. The bill further reduces the state sales and use tax rates from 1.5 percent to .5 percent beginning January 1, 2051, due to the repeal of SAVE. The bill takes effect January 1, 2023.
Iowa Code it changes
Lobbying
0 for · 0 against · 3 undecided · Who →