Bill > HF1027

This bill addresses radon mitigation in Iowa by establishing two key provisions: first, it requires that new single-family and two-family residential constructions include passive radon mitigation methods as part of the state building code, applicable only to new construction after the requirement's adoption. Second, the bill creates a tax credit for radon mitigation systems for both individual and corporate taxpayers, allowing them to claim a credit of up to $1,000 for purchasing and installing a radon mitigation system, which is defined as a system designed to reduce radon concentrations in indoor air. The tax credit can be applied to individual income taxes and corporate taxes, with any excess credit able to be carried forward to the following tax year. For partnerships, limited liability companies, S corporations, estates, and trusts, the credit can be claimed by individual members based on their pro rata share of earnings. The bill also includes a retroactive applicability provision, making these tax credit provisions effective from January 1, 2025, for tax years beginning on or after that date. This legislation aims to encourage radon mitigation in residential properties and provide financial incentives for homeowners and businesses to install systems that reduce radon exposure.

Budget and Finance

Ways and Means (House)

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=HF1027