Legislative Accomplishments

Public Policy

Legislative Accomplishments

Each year ITA member companies realize significant returns from their investment in the Association, gauged in part by the success it has achieved in passage of legislative priorities. 
 
  • Partial consolidation and reduction of county and city operational property tax levies (2023)
  • Truth in Taxation passed (2023)
  • Strengthened local government bond elections (2023)
  • Improved transparency in property tax process (2023)
  • Pass-Through Entity Tax established to create pathway for full deduction of state and local taxes on federal income taxes (2023)
  • Insurance Premium Tax reduction (2023)
  • Corporate income tax phased down to a 5.5% flat tax (2022)
  • Personal income tax phased down to a 3.9% flat tax (2022)
  • Qualified retirement income phased down and eliminated from state income tax (2022)
  • Clarified that food manufacturers, which primarily produce food/food ingredients qualify for the sales tax exemption (2022)
  • Professions and occupations remain in the definition of commercial enterprise and adds public utilities to the sales tax exemption in 423.3(47)(d)(1) (2022)
  • Bank franchise tax phased down and reduced to 3.5% (2022)
  • Kept Iowa uncoupled with IRC section 163(j) Business Interest Deduction (2021)
  • Conformity with IRC Section 168(k) Bonus Depreciation (2021)
  • Phase out and elimination of the state Inheritance Tax (2021)
  • Equity treatment for fiscal filers for the Paycheck Protection Program (PPP) (2021)
  • Repealed triggers so tax changes could be enacted (2021)
  • Mental Health property tax levy eliminated (2021)
  • Decoupled from GILTI and 163(j) Business Interest Deduction (2020)
  • Supported more Truth and Transparency in property tax system (2019)
  • Major tax changes for individual and corporate income taxes (2018)
  • Sales & Use taxes modernization (2018)
  • Consumable supplies manufacturing exemption (2016)
  • Ensured Iowa's legislative compliance with the Streamlined Sales Tax Project. (2010, 2011, 2012)
  • Defeated proposal to end refundability of Iowa's Research & Development Tax Credit (2012)
  • Defeated proposal that threatened R & D tax credit. (2007, 2008, 2009, 2010)
  • Extended the Statewide Industrial Processing Committee additional years (2012)
  • Defeated proposal that would narrow Iowa's sales and use tax exemption for machinery and equipment.(2012)
  • Extended the sales and use tax exemption for machinery and equipment to include infrastructure utilized in commercial telecommunications operations. (2006)
  • Created a state assessment appeal board intended to establish a consistent, fair, and equitable property assessment appeal process for all classes of property. (2005)
  • Defeated attempts to eliminate Property Tax Appeals Board. (2009, 2010)
  • Defeated proposal to eliminate individual federal deductibility adversely affecting subchapter S Corporations and LLC's (2009)
  • Reinstated the State Industrial Processing Study Committee. (2005)
  • Defeated proposals requiring combined corporate income tax reporting and expanding the sales tax base to include various services. (2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011)
  • Exempted manufacturer "buy downs" from state and local sales and use taxes. (2004)
  • Voided county assessor requirement to reassess machinery and equipment property due to state funding shortfalls in the m & e property tax replacement fund. (2003)
  • Clarified machinery and equipment sales tax exemption to include sand handling, mold making, and core-making equipment. (2003)
  • Created the Streamlined Sales Tax Project Advisory Council to ensure adequate Iowa business representation during the national simplification efforts. (2003)
  • Full subchapter S Corporation income apportionment. (2002)
  • Insurance premium tax rate reduction from 2% to 1%. (2002)
  • Excluded intangible information services permanently from sales and use tax. (2002)
  • Developed and accomplished important venture capital initiatives such as the Iowa Capital Formation Act which will mobilize private capital through contingent tax credits and increase venture capital investment in Iowa. (2002)
  • Excluded business-to-business transactions from the unclaimed property audit process. (2001)
  • Expanded the state research and development credit to include the federal "alternative" method. (2000)
  • Excluded intangible business information services from sales and use tax. (2000)
  • Repeal of the Internet access sales tax. (1999, 2000)
  • Repeal of the argon gas sales and use tax. (1999)
  • Replacement of property tax on electricity and natural gas with excise taxes (a major step towards electric utility restructuring, i.e., lower energy rates for business). (1999)
  • Repeal of sales and use taxes for industrial machinery, computers, fuel, pollution control, and quality control equipment. (1995, 1996, 1997, 1998, 1999)
  • Tax exemption for motor truck vehicles used substantially in interstate commerce. (1998)
  • Reduction in state aircraft registration fees. (1998)
  • Extended property tax exemption for machinery and equipment. (1997)
  • Retained Iowa's research and development tax credit. (1997, 2009, 2010, 2011)
  • 10% across-the-board state personal income tax reduction (ITA part of a coalition supporting legislation). (1997)
 
 
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