HF 2149: Relating to the allocation of workforce housing tax incentives available against the individual and corporate income taxes, the franchise tax, the insurance premiums tax, and the moneys and credits tax

What it does

Currently, certain economic development tax credit amounts are capped at $170 million in the aggregate per fiscal year under Code section 15.119. In allocating the tax credits pursuant to Code section 15.119, the workforce housing tax incentive program limit is $35 million in most instances, and of that amount allocated to workforce housing tax incentives, $17.5 million is reserved for projects in small cities. Of the remaining moneys not allocated to small cities, this bill specifies that no more than one-third of the remaining moneys shall be reserved for qualified housing projects wholly located in the two most populous counties in the state, that are registered on or after July 1, 2024.

House subcommittee · named February 8, 2024

• Rep. Derek Wulf (R) · derek.wulf@legis.iowa.gov
• Rep. Brian Best (R)
• Rep. Eric J. Gjerde (D) · eric.gjerde@legis.iowa.gov

Lobbying · 2 for, 1 against

For: City of Waukee; Iowa Bankers Association

Against: Iowa Housing Partnership

In plain words

1. January 25, 2024Filed in the House and sent to the Ways and Means committee
2. February 8, 2024House subcommittee named: Wulf, Best and Gjerde
3. February 28, 2024Subcommittee recommended passing it