SSB 3141: SSB 3141

What it does

This bill relates to state taxation by modifying future individual income tax rates, creating processes for reducing individual income tax rates to zero, and reducing future contingent corporate income tax rates. DIVISION I —— CREATION OF TAXPAYER RELIEF TRUST FUND, INCOME TAX ELIMINATION FUND, AND BOARD. The bill creates the taxpayer relief trust fund (trust fund) and the income tax elimination fund (ITEF) for the purpose of reducing future individual income tax rates to zero. Under the bill, moneys are transferred through both funds before being used to fund the reduction of individual income tax rates.

Senate subcommittee · named February 1, 2024

• Sen. Dan Dawson (R) · dan.dawson@legis.iowa.gov
• Sen. Dawn Driscoll (R) · dawn.driscoll@legis.iowa.gov
• Sen. Pam Jochum (D)
• Sen. Carrie Koelker (R) · carrie.koelker@legis.iowa.gov
• Sen. Janet Petersen (D) · janet.petersen@legis.iowa.gov

Lobbying · 9 for, 7 against

For: Ames Regional Economic Alliance; Associated General Contractors of Iowa; Greater Des Moines Partnership; Iowa Association of Business and Industry (ABI); Iowa Business Council; Iowa Chamber Alliance; Iowa Taxpayers Association; Marshalltown Area Chamber of Commerce; Quad Cities Chamber of Commerce

Against: AFSCME Iowa Council 61; Common Good Iowa; Iowa Catholic Conference; Iowa Chapter of Sierra Club; Iowa Federation of Labor, AFL-CIO; Iowa State Education Association; UAW Region 4

In plain words

1. February 1, 2024Filed in the Senate and sent to the Ways and Means committee
2. February 1, 2024Senate subcommittee named: Dawson, Driscoll, Jochum, Koelker and Petersen