Relating to the maximum amount of tax credits that may be granted to taxpayers under the endow Iowa tax credit, and effective date and including applicability provisions

Where it is now

1. ✓
   Done: IntroducedFebruary 15, 2022
2. ✓
   Done: SubcommitteeFebruary 15, 2022
3. ✓
   Done: House committeeFebruary 22, 2022
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 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

This bill relates to the endow Iowa tax credit available against the individual and corporate income taxes, the franchise tax, the insurance premiums tax, and the moneys and credits tax. Under current law, the aggregate amount of endow Iowa tax credits authorized annually shall not exceed $6 million, and current law prohibits a taxpayer to be granted more than percent of the $6 million aggregate amount. The bill reduces the maximum amount of endow Iowa tax credits that may be granted to a taxpayer from percent of the $6 million aggregate amount to an amount not to exceed $100,000. The bill takes effect January 1, 2023, and applies to endowment gifts made on or after that date.

Full bill text¹

House subcommittee

Named February 17, 2022 (as HSB 718). On February 17, 2022 it recommended passage. Vote Total: 3-0.

• Rep. Brent Siegrist REmail
• Rep. Carter F. Nordman REmail
• Rep. Cindy Winckler DEmail

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

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