Bill > HF872

This bill modifies the definition of a "targeted small business" in Iowa state law by expanding the criteria for qualifying enterprises. Specifically, the bill increases the maximum annual gross income threshold from $4 million to $10 million (calculated as an average over the preceding three fiscal years) and adds a requirement that the enterprise must have fewer than 20 employees. The bill maintains the existing provisions that the business must be at least 51% owned, operated, and actively managed by women, minority persons, service-disabled veterans, or persons with a disability, and must be located in the state, operated for profit, and under single management. By raising the income limit and adding an employee number cap, the bill aims to provide more small businesses owned by traditionally underrepresented groups with opportunities for economic support and recognition under state economic development programs.

Business and Industry

Economic Growth And Technology (H)

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF872