Creating a used electric vehicle tax credit available against the individual and corporate income taxes, and including applicability provisions

Where it is now

1. ✓
   Done: IntroducedFebruary 15, 2023
2. ✕
   Stopped: SubcommitteeDied when the General Assembly ended
3. Next: House committee
4. Next: Passes the House
5. Next: Senate committee
6. Next: Passes the Senate
7. Next: To the Governor
8. Next: Signed into law

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

What’s in it

This bill creates a used electric vehicle tax credit available against the individual and corporate income taxes.116 (battery electric and plug-in hybrid electric motor vehicle fees), upon the purchase of a used electric vehicle, may claim a tax credit in an amount equal to $500.116. Any credit in excess of the taxpayer’s liability for the tax year is not refundable but may be credited to the tax liability for the following five years or until depleted, whichever is earlier. A taxpayer claiming the tax credit shall provide documentation supporting the tax credit claim in a form and manner prescribed by the department of revenue.

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

Iowa Code it changes

Creates§321.116A§422.12P

Amends§422.33

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