Sign in

Back to the bill

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

HF 2674: Relating to tax credits awarded by the economic development authority for specific capital contributions made to certified rural business growth funds for investment in qualified businesses

Died when the session ended · The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died.

What it does

This bill relates to tax credits awarded by the economic development authority for specific capital contributions made to certified rural business growth funds for investment in qualified businesses. The bill defines “qualified business” to mean any business within this state that has fewer than 250 employees, including certain subcontractors, and is not located in whole or in part in one or more of the most populous counties in the state. The bill directs the economic development authority (authority) to begin accepting Iowa rural development tax credit program (program) applications beginning January 7, 2025.

Sponsors

Ways and Means committee

Cost

Less revenue: up to $9.0M

House File 2674 is estimated to decrease revenue to the General Fund by the following amounts each fiscal year: • FY 2031 = $3.0 million • FY 2032 = $6.0 million • FY 2033 = $9.0 million • FY 2034 = $6.0 million • FY 2035 = $3.0 million

Senate subcommittee · named April 3, 2024

  • Sen. Annette Sweeney (R) · annette.sweeney@legis.iowa.gov
  • Sen. Waylon Brown (R)
  • Sen. William A. Dotzler Jr. (D) · bill.dotzler@legis.iowa.gov

Lobbying · 7 for, 0 against

For: Advantage Capital; Center for Rural Affairs; Enhanced Capital; Iowa State Association of Counties; Iowa State Association of County Supervisors; Professional Developers of Iowa (PDI); Stonehenge Capital LLC

In plain words

  1. February 20, 2024Filed in the House and sent to the Ways and Means committee · as HSB 722
  2. February 20, 2024House subcommittee named: Kaufmann, Bloomingdale and Forbes · as HSB 722
  3. February 20, 2024House subcommittee named: Wulf, Bloomingdale and Forbes · as HSB 722
  4. February 27, 2024Subcommittee recommended passing it · as HSB 722
  5. March 26, 2024Approved by the House committee · as HSB 722
  6. March 27, 2024Filed in the House
  7. March 27, 2024Approved by the House committee, and given a new number: HF 2674 · as HSB 722
  8. April 1, 2024Cost estimate (fiscal note) posted
  9. April 2, 2024Passed the House, 95–0
  10. April 2, 2024Arrived in the Senate
  11. April 3, 2024Senate subcommittee named: Sweeney, Brown and Dotzler
  12. April 9, 2024Subcommittee recommended passing it

From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/90/HF2674