Bill
Bill > HSB270
IA HSB270
A bill for an act relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.(See HF 1018.)
summary
Introduced
02/27/2025
02/27/2025
In Committee
02/27/2025
02/27/2025
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
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 75 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. This bill expands the applicability of the preservation of existing rights provision from January 1, 2023, to July 1, 2023, to historic preservation tax credits issued, H.F. _____ awarded, or allowed prior to July 1, 2023.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Ways and Means (H)
Last Action
Committee report approving bill, renumbered as HF 1018. (on 04/17/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HSB270 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/HSB270.html |
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