HF 2390 changes how Iowa's economic development authority issues tax incentives for workforce housing projects. It removes a requirement that incentives be issued on a first-come, first-served basis until the annual budget limit is reached. Instead, the authority can now determine when a project is complete and meets requirements before issuing incentives, continuing until the maximum allowable amount is achieved. This bill directly affects developers of workforce housing projects seeking tax incentives under the program and takes effect immediately upon enactment.
SF 2301 creates Iowa's "EDGE Program" (Headquarters Expansion and Development for Growth and Employment), which offers tax incentives to eligible businesses that retain or establish corporate headquarters in the state. It directly affects businesses in advanced manufacturing, bioscience, insurance/finance, technology, or R&D - requiring them to generate over 50% of revenue outside Iowa, offer comprehensive employee benefits, and demonstrate state-level competition for their headquarters. Key mechanisms include tax credits tied to creating new corporate jobs (e.g., strategic roles at headquarters) or retaining existing ones at risk, with incentives calculated based on qualifying wage thresholds in the local area. The bill also repeals older programs like the New Jobs Tax Credit and Industrial New Jobs Training Program while establishing new funds for electric transmission planning.
HF 2661 establishes four new Iowa economic development programs targeting the game industry. It creates an interactive digital entertainment tax credit (up to 30% of qualified spending, with a 5% bonus for "made in Iowa" projects), a game studio investment matching program offering forgivable loans matching private investments dollar-for-dollar (capped at $20 million annually), and a game industry fellowship program providing $150,000-$200,000 annual grants to relocate experienced professionals for two years. The programs require qualified developers to maintain physical presence and payroll in Iowa, with all tax credits and grants limited to a $20 million annual cap. These provisions directly affect Iowa-based game developers, studios, and experienced industry professionals seeking relocation.
This bill creates the "EDGE Program" to incentivize businesses with global presence to establish or retain corporate headquarters in Iowa by offering tax credits for creating or retaining high-wage jobs. To qualify, businesses must generate over 51% of revenue outside Iowa, operate in qualifying sectors (like tech or bioscience), and provide comprehensive employee benefits. The bill repeals several existing programs, including the New Jobs Tax Credit and Major Economic Growth Attraction Program, while establishing a new fund for electric transmission system planning. It also creates a separate "Business Incentives for Growth Program Training Fund" to support workforce development.
This bill establishes the "EDGE Program" (Headquarters Expansion and Development for Growth and Employment), offering tax incentives to eligible businesses that expand or retain corporate headquarters in Iowa. It directly affects businesses in advanced manufacturing, bioscience, technology, or finance that generate over 50% of revenue outside Iowa, maintain comprehensive employee benefits, and prove competing states are vying for their headquarters. Key provisions require businesses to document global presence, avoid simple intra-state relocations, and meet specific wage thresholds based on local labor data. The bill also repeals several existing tax credit programs, including the New Jobs Tax Credit and Major Economic Growth Attraction Program, while creating a new fund for business incentives training.
This bill updates Iowa's economic development programs, primarily affecting businesses and developers seeking tax credits for property redevelopment. It revises the brownfield, grayfield, and redevelopment tax credit processes by requiring applications to be reviewed by a council and board, setting a 30-month completion deadline for projects, and mandating audits by licensed accountants. The bill also repeals outdated sections of community attraction, tourism, and Vision Iowa programs while applying changes retroactively to past projects. Additionally, it modifies historic preservation tax credit rules to exclude single-family homes unless multiple units are created. These changes streamline application reviews and clarify eligibility for state-funded redevelopment incentives.
SSB 1223 is an appropriations bill allocating $12.99 million for Iowa's Economic Development Authority (EDA) for fiscal year 2025-2026. It directs the EDA to focus on statewide economic growth through business development, workforce recruitment, tourism marketing, and support for women entrepreneurs and value-added agriculture projects. The bill requires businesses receiving funds to hire only U.S. citizens or legally authorized workers, with penalties for noncompliance, and prohibits funding for geothermal snow-melting systems. Additional funding includes $1 million for the World Food Prize and $1.1 million for tourism advertising. This bill primarily affects state agencies, businesses receiving EDA support, and Iowa residents through economic development initiatives.
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Economic Development
HSB 305 updates Iowa's economic development programs overseen by the Iowa Economic Development Authority. It sets an aggregate tax credit limit of $170 million for certain programs, allowing for a 20% overage that counts against the next fiscal year's limit. The bill creates new programs, including those for business incentives, seed investors, film production, research and development, and sustainable aviation fuel. Simultaneously, it eliminates several existing tax credit programs, such as the High Quality Jobs program and various specific tax credits for employer child care and assistive devices. These changes directly affect businesses, investors, and the state's economic development initiatives.
SSB 1236 is a legislative bill that appropriates funds for the economic development of the state for fiscal year 2025-2026. It allocates money to various entities, including the Economic Development Authority (EDA), Iowa Finance Authority, Department of Workforce Development, and the State Board of Regents. The bill sets goals for the EDA to expand the state economy, increase Iowan wealth, and grow the population, outlining specific strategies such as business recruitment, entrepreneurial development, and infrastructure modernization. It also includes provisions for financial assistance restrictions related to job creation and legal work authorization, and designates specific appropriations for tourism, the World Food Prize, and councils of governments.
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Economic Development
HSB 336 is an appropriations bill that allocates state funds for economic development in Iowa for the 2025-2026 fiscal year. It provides funding to several entities, including the Economic Development Authority, Iowa Finance Authority, Department of Workforce Development, and State Board of Regents. The bill sets goals for the Economic Development Authority to expand the state economy, increase wealth and population, and promote business and entrepreneurial growth. It also outlines specific financial assistance for workforce recruitment, women entrepreneurs, and advanced research, while requiring jobs created with these funds to be filled by legally authorized workers. Additionally, the bill appropriates funds for the World Food Prize, Councils of Governments, and the Tourism Office, and eliminates the repeal of the housing renewal pilot program.
