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

HF 2801: Modifying the major economic growth attraction program, and including effective date provisions

Signed into law

What it does

This bill modifies the major economic growth attraction program (program). The program provides tax incentives for an eligible business (business) that makes a qualifying investment in the state in excess of $1 billion. A “qualifying investment” means a capital investment in real property, including the purchase price of the land, site preparation, infrastructure, and building construction for use in the operation of a business. A “qualifying investment” also means a capital investment in depreciable assets for use in the operation of a business.

Cost

See the fiscal note

House File 2801 is estimated to decrease revenue to the General Fund. Figure 1 displays the net impact of changes to the Investment Tax Credit made by the Bill compared to current law over the course of the project.

House subcommittee · named October 2, 2026

Rep. Carter F. Nordman (R) · carter.nordman@legis.iowa.gov
Rep. Jane Bloomingdale (R) · jane.bloomingdale@legis.iowa.gov
Rep. Steven C. Holt (R) · steven.holt@legis.iowa.gov
Rep. David Jacoby (D) · david.jacoby@legis.iowa.gov
Rep. Kenan Judge (D) · kenan.judge@legis.iowa.gov

Lobbying · 14 for, 5 against

For: Alliant Energy Corporation; BNSF Railway Co.; Elite Casino Resorts, LLC; ITC Midwest; Iowa Association of Business and Industry (ABI); Iowa Business Council; Iowa Economic Development Authority; Iowa Hotel & Lodging Association; Iowa Ironworkers; Iowa Restaurant Association; Laborers International Union of North America; Mesabi Metallics; and 2 more

Against: Bitches Get Stuff Done; Iowa Chapter of Sierra Club; Kurtis Bower; Land of the Free Action; Siouxland Bitches Get Stuff Done

In plain words

October 2, 2026Filed in the House and sent to the Ways and Means committee · as HSB 785
October 2, 2026Filed in the House
October 2, 2026House subcommittee named: Nordman, Bloomingdale, Holt, Jacoby and Judge · as HSB 785
October 2, 2026Passed the House, 75–17
October 2, 2026Subcommittee recommended passing it · as HSB 785
October 2, 2026Approved by the House committee · as HSB 785
October 2, 2026Committee vote: 20–5 · as HSB 785
October 2, 2026Approved by the House committee, and given a new number: HF 2801 · as HSB 785
October 2, 2026Took the place of SF 2508 on the Senate floor (the same legislation)
October 2, 2026Passed the Senate, 28–19
October 2, 2026Sent to the Governor
October 2, 2026Signed into law
October 2, 2026Cost estimate (fiscal note) posted
October 5, 2026Arrived in the Senate
November 2, 2026Cost estimate (fiscal note) posted