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

HF 2685: Exempting from state income tax income received by a certified public accountant performing certain audits or examinations of governmental subdivisions, and including retroactive applicability provisions

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

What it does

This bill exempts from state income tax under Code sections 422.7 (individual) and 422.35 (corporate), as applicable, income received by a certified public accountant performing an audit or examination of a governmental subdivision under Code section 11.6. The bill applies retroactively to tax years beginning on or after January 1, 2024, but before January 1, 2029.

Cost

Less revenue: up to $1.7M

The proposed income exemptions in HF 2685 are projected to decrease net General Fund revenue by the following: • FY 2025 = $1.7 million • FY 2026 = $1.6 million • FY 2027 = $1.4 million • FY 2028 = $1.4 million • FY 2029 = $1.4 million The Bill is projected to…

House subcommittee · named February 19, 2024

Rep. John H. Wills (R) · john.wills@legis.iowa.gov
Rep. Dave Deyoe (R)
Rep. Elizabeth Wilson (D) · elizabeth.wilson@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Iowa League of Cities; Iowa Society of Certified Public Accountants

In plain words

February 19, 2024Filed in the House and sent to the Ways and Means committee · as HSB 716
February 19, 2024House subcommittee named: Wills, J., Deyoe and Wilson · as HSB 716
February 27, 2024Subcommittee recommended passing it with changes · as HSB 716
April 2, 2024Approved by the House committee · as HSB 716
April 3, 2024Filed in the House
April 3, 2024Approved by the House committee, and given a new number: HF 2685 · as HSB 716
April 8, 2024Cost estimate (fiscal note) posted