Bills › 89th General Assembly
Where it is now
- Done: IntroducedMarch 3, 2021
- Done: SubcommitteeMarch 4, 2021
- Stopped: Senate committeeDied when the General Assembly ended
- Next: Passes the Senate
- Next: House committee
- Next: Passes the House
- 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
This bill relates to pandemic relief by excluding certain COVID-19 related grants from the individual and corporate income taxes. The bill excludes from the calculation of Iowa individual and corporate income tax any qualifying COVID-19 grant issued to an individual or business by the economic development authority, the Iowa finance authority, or the department of agriculture and land stewardship. _____ financial assistance to individuals and businesses economically impacted by the COVID-19 pandemic.
Read the full explanation
Under current law, financial assistance grants provided to small businesses by the economic development authority under the Iowa small business COVID-19 relief grant program are excluded from the calculation of Iowa individual and corporate income tax. The COVID-19 grant income tax exclusion provided in the bill is repealed on January 1, 2024, and does not apply to tax years beginning on or after that date. The bill takes effect upon enactment and applies retroactively to March 23, 2020, for tax years ending on or after that date.
Senate subcommittee
Named March 4, 2021. Meeting: Tuesday, March 9 · 3:30 PM · 217 Conference Room.
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
Iowa Code it changes
Lobbying
0 for · 0 against · 6 undecided · Who →
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- HSB 195 HSB 19589th General Assembly · Subcommittee recommends passageSimilar
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