Sign in

Bills › 90th General Assembly

HF 2218Renumbered as HF 2420 · February 8, 2024

Relating to the maximum amount 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

Topics:Business & economyTechnology & privacyHousing supply & costsTax credits & incentives

Same legislation: HF 2420

Write your legislators about it

Also covers HF 2420.

Official bill pageLobbyist declarationsOne-pager to print

Where it is now

  1. Done: IntroducedJanuary 30, 2024
  2. Done: SubcommitteeFebruary 5, 2024
  3. Done: House committeeFebruary 7, 2024
  4. Next: Passes the House
  5. Next: Senate committee
  6. Next: Passes the Senate
  7. Next: To the Governor
  8. Next: Signed into law

Became HF 2420 → Its progress continues under the new number. Go to HF 2420 What’s a funnel?

What’s in it

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, $17.5 million is reserved for projects in small cities. This bill increases the workforce housing tax incentive program maximum from $35 million to $50 million, and increases the allocation reserved for projects in small cities from $17.5 million to $25 million.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

House subcommittee

Named February 5, 2024. On February 7, 2024 it recommended passage. Vote Total: 3-0.

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

Fiscal note

The proposed increase in the maximum amount of the Workforce Housing Tax Credit is projected to decrease net General Fund revenue by the following amounts: • FY 2025 = $4.4 million • FY 2026 = $9.5 million • FY 2027 = $11.6 million • FY 2028 = $11.9 million • FY 2029 = $11.9 million The increase in investment tax credits is projected to decrease the statewide local option income surtax for schools by the following amounts: • FY 2025 = $10,000 • FY 2026 = $32,000 • FY 2027 = $43,000 • FY 2028 = $44,000 • FY 2029 = $44,000

Nonpartisan cost estimates from the Legislative Services Agency’s Fiscal Services Division. The newest is first. Reading a fiscal note

Iowa Code it changes

Amends§15.119

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works

Lobbying

14 for · 0 against · 14 undecided · Who →

Family tree

Where this legislation came from and where it went: earlier tries, the versions it moved through this Assembly, and later bills built on it.

90th General Assembly

HF 2218RenumberedHF 2420Cleared committeefrom HF 2218

Picked up later

HF 109Cleared committee91st GAHSB 129Cleared committee91st GA

Earlier and later bills are matched by wording or an identical title; check the text to be sure it’s the same idea.

Similar bills

  • HF 109 Relating to the maximum amount of workforce housing tax incentives available against the i…
    91st General Assembly · In committee
    Nearly identical
  • HSB 129 Relating to the maximum amount of workforce housing tax incentives available against the i…
    91st General Assembly · Subcommittee recommends passage
    Nearly identical

Matched by the wording of each bill’s explanation, or an identical title. Companion bills and renumbered versions of this bill aren’t listed; they’re the same bill.