This bill creates a sales and use tax exemption for tangible personal property, digital products, and services used to build, repair, maintain, or restart nuclear electric generation facilities in Iowa. The exemption applies to items purchased before, during, or after construction and restart activities, but excludes motor vehicles and requires facilities to provide exemption certificates to retailers. The law defines nuclear facilities broadly to include reactors, fuel storage, electrical equipment, safety systems, and environmental protection components, with eligibility requiring federal licensing and operation starting on or after January 1, 2028. Additionally, the bill includes retroactive applicability, allowing the tax exemption to apply to qualifying purchases made on or after January 1, 2025, and requires the state revenue department to issue guidance on documentation and procedures for claiming the exemption.
This bill creates a sales tax exemption for clothing priced under $100 purchased on July 3-5, 2026, to commemorate the 250th anniversary of the Declaration of Independence. It also establishes a task force to organize state-wide events, decorate the Capitol complex for a holiday season display, and create an educational "250" display visible from the air. Public schools must provide Constitution-related lessons on September 17, 2026, and public broadcasting must air anniversary-focused programming in 2026-2027. The bill directly affects Iowa residents through tax relief, schools through curriculum requirements, and state agencies through event planning.
SF 2373 modifies Iowa's MEGA economic development program to allow NFL franchises building a professional sports stadium in the state to qualify for incentives. The bill defines "sports stadium" as a facility hosting NFL games and adds stadium construction projects to the program's eligible business types, expanding beyond its current focus on advanced manufacturing, biosciences, or R&D. Eligible NFL franchises would receive tax incentives like sales tax refunds and investment credits, subject to the program's existing limits of two projects or a 2027 end date. The bill does not change the requirement that businesses must primarily engage in qualifying sectors, though stadium projects are now explicitly included.
HF 2550 establishes Iowa's Small Modular Reactor Committee within the Economic Development Authority to coordinate statewide development of small nuclear reactors. The bill creates financial incentives including a 30% tax credit on qualified capital investments for businesses building reactor projects (like design, manufacturing, power generation, or related supply chains) starting in 2027. It also allows communities to grant property tax exemptions for up to 20 years on improvements directly tied to jobs created by these facilities. The committee will review project applications within 180 days, designate priority development zones, and administer these incentives.
HF 2341 creates a partial property tax exemption for residential properties sold by the U.S. Department of Housing and Urban Development (HUD) in areas declared major disaster zones by the president or state disaster emergencies by the governor. It applies specifically to properties sold to owners already receiving Iowa's homestead tax credit, providing a phased tax reduction over four years: 80% exemption in the first assessment year, 60% in the second, 40% in the third, and 20% in the fourth. The exemption expires after the fourth year, meaning homeowners pay full property tax starting in the fifth year. This bill directly affects HUD-sold homeowners in disaster-affected areas who qualify for the homestead tax credit.
This bill requires data center businesses in Iowa that claim sales tax exemptions or refunds to invest 5% of the claimed amount annually into qualifying businesses or innovation funds. Specifically, they must make this investment by year-end based on the prior year's exemption/refund value. If they fail, the state cancels their tax exemption eligibility and requires repayment of the full claimed amount as a tax payment. The bill also updates annual reporting requirements for data centers to include details about exempt property purchases and tax refunds starting in 2027.
This bill increases Iowa's sales or use tax refund for biodiesel producers from 4 cents to 5 cents per gallon of biodiesel produced in the state. The refund amount is calculated by multiplying the new 5-cent rate by the total gallons produced each quarter. It extends the expiration date of this tax incentive from January 1, 2028, to January 1, 2031. The bill directly affects biodiesel producers operating within Iowa.
SF 2252 modifies Iowa's Major Economic Growth Attraction (MEGA) program to allow tax incentives for building a National Football League (NFL) stadium. The bill expands the existing program - which currently targets businesses in advanced manufacturing, biosciences, or R&D - to include NFL franchises constructing a professional sports stadium. Key provisions define "sports stadium" as a facility for NFL games and specify that incentives (like sales tax refunds and investment tax credits) would apply to the stadium project, subject to the program’s $1 billion investment threshold. This bill would directly affect NFL teams seeking to build a stadium in Iowa, but it does not change other MEGA program requirements or eligibility rules.
This bill makes tax exemptions for nuclear power facilities, web search portals, and data centers contingent on funding nuclear engineering programs at Iowa's public universities. Specifically, businesses receiving these exemptions must contribute at least 5% of their annual tax exemption value to state universities with nuclear engineering programs. If they fail to contribute, they lose their tax exemption eligibility and must repay all previously claimed exemptions. The bill directly affects new or expanded facilities in these sectors (with construction dates starting in 2027 for data centers and web portals) and requires annual contributions tied to their tax savings.
This bill (HSB 730) amends Iowa's workforce housing tax incentive program to specifically include rehabilitation projects. It defines a "rehabilitation project" as one rehabilitating dilapidated housing (with minimum unit requirements) for resale as primary residences, and sets aside $5 million annually for such projects - $2.5 million reserved for small cities. The bill increases the annual tax incentive cap from $35-$36.5 million to $40 million, limits total incentives per housing business to $1 million, and removes first-come, first-served allocation. It directly affects developers of workforce housing rehabilitation projects, particularly those in small cities seeking tax incentives.
