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

SF 653: Relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax

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

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.

Sponsors

Sen. Mark S. Lofgren (R)

Cost

Less revenue: up to $300,000

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.

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

  1. May 9, 2025Filed in the Senate
  2. May 9, 2025Approved by the Senate committee
  3. May 12, 2025Cost estimate (fiscal note) posted
  4. June 16, 2025Sent to the Senate Ways and Means committee

From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/91/SF653