89th General Assembly · Iowa Funnel one-pager · Tuesday, November 10, 2026
SF 196: Relating to state deductibility of federal paycheck protection program loan forgiveness
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 federal paycheck protection program. Under current law, for the tax year 2020 and later, Iowa law fully conforms with the federal treatment of forgiven paycheck protection program loans and excludes such amounts from net income and allows certain deductions for business expenses paid using those loans. For fiscal-year filers who received paycheck protection program loans during the 2019 tax year, current law excludes such amounts from net income, but does not allow certain deductions for business expenses paid using those loans.
Sponsors
Not listed
Cost
See the fiscal note
3$ Paycheck Protection Program Tax Exemption Projected General Fund Revenue Reduction Dollars in Millions Fiscal Note Fiscal Services Division 2 Source Department of Revenue /s/ Holly M. Lyons February 15, 2021 Doc ID 1212475 The fiscal note for this Bill was …
Senate subcommittee · named February 8, 2021
- Sen. Dan Dawson (R) · dan.dawson@legis.iowa.gov
- Sen. Tim Goodwin (R)
- Sen. Herman C. Quirmbach (D) · herman.quirmbach@legis.iowa.gov
Lobbying · 5 for, 0 against
For: Iowa Association of Business and Industry (ABI); Iowa Bankers Association; Iowa Dental Association; Iowans for Tax Relief; National Federation of Independent Business (NFIB /IA)
In plain words
- February 1, 2021Filed in the Senate and sent to the Ways and Means committee
- February 8, 2021Senate subcommittee named: Dawson, Goodwin and Quirmbach
- February 15, 2021Cost estimate (fiscal note) posted
From public records at legis.iowa.gov, compiled by Iowa Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Tuesday, November 10, 2026. https://iowafunnel.com/bills/89/SF196