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

HF 2105: Excluding nonqualified deferred compensation income from the individual income tax, and including retroactive applicability provisions

Became HF 2638 · Its progress continues under the new number.

What it does

Under current law, a taxpayer may exclude retirement income from the computation of net income for purposes of the individual income tax. In order to be eligible for the retirement income exclusion, a person must be disabled, at least years of age, or be the surviving spouse of an individual or be a survivor having an insurable interest in an individual who would have qualified for the retirement income exclusion. This bill excludes nonqualified deferred compensation plan income from the computation of net income for purposes of the individual income tax under similar circumstances as the retirement income exclusion.

Cost

See the fiscal note

House File 2638 would have a negative fiscal impact on the General Fund, although an estimate cannot be made due to a lack of information on deferred compensation plans in Iowa.

House subcommittee · named January 31, 2024

Rep. Megan Jones (R) · megan.jones@legis.iowa.gov
Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
Rep. Elizabeth Wilson (D) · elizabeth.wilson@legis.iowa.gov

Lobbying · 4 for, 0 against

For: Iowa Association of Business and Industry (ABI); Iowa Business Council; Iowa Society of Certified Public Accountants; Iowa Taxpayers Association

In plain words

January 23, 2024Filed in the House and sent to the Ways and Means committee
January 31, 2024House subcommittee named: Jones, Bloomingdale and Wilson
February 6, 2024Subcommittee recommended passing it
February 28, 2024Approved by the House committee
February 28, 2024Approved by the House committee, and given a new number: HF 2638
March 26, 2024Withdrawn