Bill
Bill > SF314
IA SF314
A bill for an act establishing a shortline railroad restoration tax credit, and including effective date and retroactive applicability provisions. (See SF 630.)
summary
Introduced
02/19/2019
02/19/2019
In Committee
02/19/2019
02/19/2019
Crossed Over
Passed
Dead
06/14/2020
06/14/2020
Introduced Session
88th General Assembly
Bill Summary
A bill for an act establishing a shortline railroad restoration tax credit, and including effective date and retroactive applicability provisions. (See SF 630.)
AI Summary
This bill establishes a shortline railroad restoration tax credit in Iowa. It defines key terms such as "qualifying shortline railroad restoration project", "railroad infrastructure", and "tax credit". The bill sets limitations on the tax credit, including that it is only available to class II or class III railroads and the credit amount is capped based on the number of miles of railroad track owned or leased by the taxpayer. The bill also outlines the process for applying for and transferring the tax credit. The tax credit can be claimed against various state taxes, including income tax, insurance premium tax, and the moneys and credits tax. The bill takes effect upon enactment and applies retroactively to tax years beginning on or after January 1, 2019.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Ways and Means (09:30 4/17/2019 RM 22) (on 04/17/2019)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=88&ba=SF314 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/88/attachments/SF314.html |
| Bill | https://www.legis.iowa.gov/docs/publications/LGI/88/SF314.pdf |
Loading...