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

HSB 270: Relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax

Became HF 1018 · Its progress continues under the new number.

What it does

During the 2022 legislative session, House File 2317 was enacted which gradually reduced the refundability of the historic preservation tax credit commencing with the tax year beginning January 1, 2023, until percent of the credit in excess of tax liability is refundable for tax years beginning on or after January 1, 2027. Previously, the tax credit was 100 percent refundable. House File 2317 also enacted a provision preserving existing rights to the tax credit issued, awarded, or allowed prior to January 1, 2023, to reduce the effect House File 2317 had on existing tax credits being awarded.

Cost

See the fiscal note

The proposed expansion of the preservation of existing rights for relevant tax credits issued, awarded, or allowed until July 1, 2023, is projected to decrease revenue to the State General Fund by $300,000 in FY 2026.

House subcommittee · named February 27, 2025

Rep. David E. Young (R) · david.young@legis.iowa.gov
Rep. Christian A. Hermanson (R) · christian.hermanson@legis.iowa.gov
Rep. Larry McBurney (D) · larry.mcburney@legis.iowa.gov

Lobbying · 4 for, 0 against

For: City of Des Moines; Iowa Chapter, American Institute of Architects; Iowa Real Estate Developers Association; Metropolitan Coalition

In plain words

February 27, 2025Filed in the House and sent to the Ways and Means committee
February 27, 2025House subcommittee named: Young, Hermanson and McBurney
March 11, 2025Subcommittee recommended passing it
April 16, 2025Approved by the House committee
April 16, 2025Committee vote: 24–0
April 17, 2025Approved by the House committee, and given a new number: HF 1018