Excluding the net capital gain from the sale of gold or silver from the calculations of Iowa net income for purposes of the individual income tax, and including effective date and retroactive applicability provisions

Where it is now

1. ✓
   Done: IntroducedFebruary 24, 2025
2. ✓
   Done: SubcommitteeMarch 18, 2025
3. ✕
   Stopped: House committeeDied when the General Assembly ended
4. Next: Passes the House
5. Next: Senate committeeFunnel: by March 20, 2026
6. Next: Passes the Senate
7. Next: To the Governor
8. Next: Signed into law

Died when the session ended The General Assembly adjourned on October 2, 2026. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

This bill excludes the net capital gain from the sale of gold or silver from the calculation of Iowa net income for purposes of the individual income tax. The bill defines “gold or silver” to mean bars, coins, ingots, or commemorative medallions of gold or silver, or pure gold or silver in any form. The bill takes effect upon enactment and applies retroactively to tax years beginning on or after January 1, 2025.

From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Amendments adopted later aren’t reflected. Full bill text

House subcommittee

Named March 18, 2025. On March 26, 2025 it recommended passage.

• Rep. Brooke Boden REmail
• Rep. Larry McBurney DEmail
• Rep. John H. Wills REmail

Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part

Iowa Code it changes

Amends§422.7

Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works