Bills › 91st General Assembly
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
Sponsored by Rep. Jeff Shipley (R)
Topics:TaxesIncome taxes
Where it is now
- Done: IntroducedFebruary 24, 2025
- Done: SubcommitteeMarch 18, 2025
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committeeFunnel: by March 20, 2026
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
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’s a funnel?
What’s in it
AI summary People in Iowa would no longer have to pay state income tax on the profit they make from selling gold or silver. This rule applies to items like gold or silver bars, coins, ingots, or medallions. The change would start for tax years beginning on or after January 1, 2025.1
Read the official explanation
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.
House subcommittee
Named March 18, 2025. On March 26, 2025 it recommended passage.
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