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91st General Assembly · Iowa Funnel one-pager · Monday, November 9, 2026

HF 1024: Excluding overtime pay from the individual income tax, and including applicability provisions

Died when the session ended · The 2026 session adjourned on May 3, 2026, the General Assembly’s last regular session. Bills that didn’t pass both chambers died.

What it does

This bill excludes overtime pay from the individual income tax. The bill excludes from the individual income tax the portion of compensation that is authorized pursuant to U.S.C. §207 to be earned at not less than one and one-half times the regular rate at which the person is employed. The bill applies to tax years beginning on or after January 1, 2026.

Sponsors

Ways and Means committee

Cost

Less revenue: up to $103.4M

The exemption in HF 1024 will decrease revenue to the General Fund by the following amounts: • FY 2026 = $48.4 million • FY 2027 = $94.4 million • FY 2028 = $96.6 million • FY 2029 = $98.8 million • FY 2030 = $101.1 million • FY 2031 = $103.4 million The decre…

Lobbying · 4 for, 1 against

For: Dr. Tanja Garrison; IBEW Iowa State Conference; Master Builders of Iowa; Mid-American Carpenters Regional Council

Against: Common Good Iowa

In plain words

  1. April 17, 2025Filed in the House
  2. April 22, 2025Cost estimate (fiscal note) posted

From public records at legis.iowa.gov, compiled by Iowa Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/91/HF1024