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

SF 2442: Relating to state and local finances by modifying individual and alternate income tax rates, withholding credits, franchise tax deductions, methodologies for determining property taxes, and property tax assessment limitations, changing methods of determining compensation of county officials, making contingent transfers from the taxpayer relief fund, and making corrections, and including effective date and applicability provisions

Signed into law

What it does

This bill modifies the individual and alternate income tax rates, withholding credits, franchise tax deductions, adjustments to city and county tax levy rates, and property tax assessment limitations and procedures, changes methods of determining compensation of county officials, makes contingent transfers from the taxpayer relief fund, and makes corrections. DIVISION I —— INDIVIDUAL AND ALTERNATE INCOME TAX RATES BEGINNING IN TAX YEAR 2025.80 percent.30 percent.5(2) and (3), and is used to calculate income tax owed.

Sponsors

Ways and Means (companion To Hf 2705 By Committee on Ways and Means) committee

Cost

Minimal

Division V is not expected to have a fiscal impact. Division VI — County and City Tax Levy Rate Adjustments Description and Background Division VI makes changes to the limits on county and city property tax rates established in 2023 Iowa Acts, House File 718.

Lobbying · 4 for, 1 against

For: Americans For Prosperity; Iowa State Treasurer's Office; Iowa Taxpayers Association; TC Energy

Against: Iowa State Education Association

In plain words

  1. April 18, 2024Filed in the Senate
  2. April 18, 2024Approved by the Senate committee
  3. April 19, 2024Passed the Senate, 39–7
  4. April 19, 2024Cost estimate (fiscal note) posted
  5. April 19, 2024Took the place of HF 2705 on the House floor (the same legislation)
  6. April 19, 2024Passed the House, 68–24
  7. April 29, 2024Sent to the Governor
  8. May 1, 2024Signed into law
  9. May 10, 2024Cost estimate (fiscal note) posted

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/SF2442