Bills › 91st General Assembly
Modifying the research activities tax credit available against the individual and corporate income taxes, and including effective date and retroactive applicability provisions
Where it is now
- Done: IntroducedMarch 6, 2025
- Done: SubcommitteeMarch 6, 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 Companies and individuals who receive a tax credit for research activities could see that credit reduced if they have large layoffs or close businesses. The amount the credit is cut depends on how many people are laid off during the year. The Department of Revenue will check layoff notices to make sure these rules are followed.1
Read the official explanation
This bill modifies the research activities tax credit (credit) available against the individual and corporate income taxes.25 percent. The bill requires the department of revenue to review mass layoff notices provided pursuant to the department of workforce development under Code chapter 84C, and any other relevant information available, prior to allowing the credit.330(2). The bill takes effect upon enactment and applies retroactively to tax years beginning on or after January 1, 2024.
House subcommittee
Named March 6, 2025. On March 13, 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
Iowa Code it changes
Lobbying
2 for · 4 against · 12 undecided · Who →