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

HSB 727: HSB 727

Became HF 2660 · Its progress continues under the new number.

What it does

This bill relates to eligibility for claiming the research activities tax credit available against the individual and corporate income tax. Under current law, a person engaged in agricultural production as defined in Code section 423.1(5), is not eligible for claiming the research activities tax credit. However, the bill specifies a person conducting agriscience research is eligible to claim the research activities tax credit and is not considered agricultural production for purposes of the tax credit. The calculation of the tax credit is based upon increasing research activities in the state and is refundable. The bill defines “agriscience research”. The bill applies retroactively to January 1, 2017, for tax years beginning on or after that date.

Cost

See the fiscal note

The proposed expansion of the RAC in House File 2660 is projected to decrease net General Fund revenue by the following amounts each fiscal year: • FY 2024 = $37.7 million • FY 2025 = $48.3 million • FY 2026 = $28.0 million • FY 2027 = $16.5 million • FY 2028 …

House subcommittee · named February 22, 2024

Rep. Michael V. Sexton (R)
Rep. David Jacoby (D) · david.jacoby@legis.iowa.gov
Rep. Derek Wulf (R) · derek.wulf@legis.iowa.gov

Lobbying · 2 for, 0 against

For: AMVC Management Services; Iowa Pork Producers Association

In plain words

February 22, 2024Filed in the House and sent to the Ways and Means committee
February 22, 2024House subcommittee named: Sexton, Jacoby and Wulf
March 5, 2024Subcommittee recommended passing it
March 13, 2024Approved by the House committee
March 18, 2024Approved by the House committee, and given a new number: HF 2660