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90th General Assembly · Iowa Funnel one-pager · Tuesday, November 10, 2026

HSB 69: HSB 69

Became HF 352 · Its progress continues under the new number.

What it does

This bill relates to an entity-level taxation election for pass-through entities and allows a partner or shareholder to claim a credit against the individual income tax.5A imposed against the taxable income of the taxpayer for the taxable year. Currently, the taxable income of a partnership or S corporation passes through to the partners or shareholders of the entity and is subject to the individual income tax at the partner or shareholder level. The bill only applies to tax years as long as the limitation on individual deductions applies under section 164(b)(6) of the Internal Revenue Code.

Sponsors

Not listed

Cost

See the fiscal note

The creation of the new PTE tax will result in decreased PTE income passed through to PTE owners, thereby lowering State taxable income and State individual income tax. The revenue generated by the PTE tax will increase State tax revenue, while the new PTE tax…

House subcommittee · named January 24, 2023

  • Rep. Barb Kniff McCulla (R) · barb.kniffmcculla@legis.iowa.gov
  • Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
  • Rep. Charles Isenhart (D)

Lobbying · 13 for, 0 against

For: Associated General Contractors of Iowa; Community Bankers of Iowa; Fareway Stores, Inc.; Hubbell Realty Company; Iowa Association of Business and Industry (ABI); Iowa Automobile Dealers Association; Iowa Bankers Association; Iowa Grocery Industry Association; Iowa Real Estate Developers Association; Iowa Select Farms, L.L.P.; Iowa Taxpayers Association; National Federation of Independent Business (NFIB /IA); and 1 more

In plain words

  1. January 20, 2023Filed in the House and sent to the Ways and Means committee
  2. January 20, 2023House subcommittee named: Bloomingdale, Isenhart and Kniff McCulla
  3. January 24, 2023House subcommittee named: Kniff McCulla, Bloomingdale and Isenhart
  4. January 25, 2023Subcommittee recommended passing it
  5. February 15, 2023Approved by the House committee
  6. February 20, 2023Approved by the House committee, and given a new number: HF 352

From public records at legis.iowa.gov, compiled by Iowa Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Tuesday, November 10, 2026. https://iowafunnel.com/bills/90/HSB69