90th General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 208: Modifying the computation of net income for the individual income tax related to the capital gain or loss from the sale of bullion, coins, and currency, and including applicability provisions

Became HF 659 · Its progress continues under the new number.

What it does

This bill excludes from the computation of net income for purposes of the individual income tax the capital gain from the sale of bullion, coins, or currency and includes capital loss from such a sale. For purposes of the bill, “bullion” means bars, ingots, or commemorative medallions of gold, silver, platinum, palladium, or a combination of these where the value of the metal depends on its content and not the form. “Coins” or “currency” means a coin or currency made of gold, silver, or other metal or paper which is or has been used as legal tender. The bill applies to tax years beginning on or after January 1, 2024.

Cost

See the fiscal note

The capital gains income tax exemption for the buying and selling of bullion, coins, and currency is projected to decrease State General Fund revenue by the following amounts: • FY 2026 — $0.4 million • FY 2027 and after — $0.3 million The Bill is expected to …

House subcommittee · named February 21, 2023

Rep. Brooke Boden (R) · brooke.boden@legis.iowa.gov
Rep. John Forbes (D)
Rep. John H. Wills (R) · john.wills@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Protect My Innocence; Rick Phillips

In plain words

February 6, 2023Filed in the House and sent to the Ways and Means committee
February 21, 2023House subcommittee named: Boden, Forbes, Wills and J
February 28, 2023Subcommittee recommended passing it
March 7, 2023Approved by the House committee
March 7, 2023Approved by the House committee, and given a new number: HF 659
March 19, 2024Withdrawn