ITA Bill Watch - Iowa Taxpayers Association

ITA Bill Watch

Following are the bills ITA is watching

Updated April 29, 2019

 

Bill Number:   SF 220
Topic Category:   Income Tax/Section 179
Summary:   This bill increases the expensing allowance deduction for corporations, financial institutions, partnerships, and limited liability companies taxed as corporations. It raises the amount of the deduction allowed to $70,000. It also raises the cap on the total cost of section 179 property to $280,000. Both of these changes will be equal with personal income tax filers for TY 2018. (Formerly SSB 1089)
Iowa Senate:   Subcommittee: Feenstra, Bolkom and R Smith
Floor Manager: Feenstra
Committee: Passed
Floor: 48-0
Iowa House:  

Subcommittee: Hite, McConkey and Zumbach
Floor Manager: Hite
Committee: Passed
Floor 87-7

Governor:   Signed March 15, 2019
Position:   ITA is registered FOR the bill. Would prefer total conformity but agree with the equitable treatment between taxpayers in the same tax year.
     
Bill Number:   SF 634
Topic Category:   Property Tax
Summary:  

A bill for an act establishing budget limitations for counties and cities and including applicability provisions. (Formerly SSB 1260)

Iowa Senate:  

Subcommittee: Feenstra, Dawson and Jochum
Floor Manager: Feenstra
Committee: Passed
Floor: 33-17

Iowa House:  

Subcommittee:
Floor Manager: Hite
Committee: Passed, Party line
Floor: 53-47

Governor:   Pending
Position:   ITA is registered FOR; however, we are hopefully they will address most of our concerns.
     
Bill Number:   HF 779
Topic Category:   Income Tax and Sales Tax
Summary:  

Makes clarifying and technical changes to Iowa income tax and sales & use tax law. Adds new exemptions from sales tax. (Formerly SF 631, SSB 1249 & HSB 257).

Iowa Senate:  

Subcommittee: Feenstra, Dawson and Jochum
Floor Manager: Feenstra
Committee: Passed
Floor: 44-4

Iowa House:   Subcommittee: Hite, Hein and James
Floor Manager: Hite
Committee: Passed
Floor:90-8
Governor:  

Pending

Position:   ITA is registered as undecided, the bill does not address our concerns on conforming to GILTI and our concerns conforming with section 163(j). We have expressed extreme dissapointment and will isue a comment under our registration. ITA does support many of the changes in the bill.
     
Bill Number:   SF 597
Topic Category:   Sales Tax
Summary:   This bill exempts the collection of blood for test and donations of blood from sales and use tax. This bill expands the definition of "commercial enterprise"  in Code section 423.3(104) to include nonprofit blood center. This bill also allows for refunds, interest and penalties due to the law change that was enacted on May 30, 2018 and claims to be filed prior to October 1, 2019.  (Formerly SSB 1114, Companion bill, HSB 161)
Iowa Senate:  

Subcommittee: Feenstra, Jochum and R Smith
Floor Manager: Feenstra
Committee: Passed
Floor: 47-0

Iowa House:  

Subcommittee: Bossman, Brown-Powers & Windschitl
Floor Manager: Bossman
Committee: Passed
Floor: 99-0 as amended

Governor:   Pending
Position:   This is believed to be an unintended consequence from the enactment last year of SF 2417. ITA has not taken a stance on this bill, but would believe all unintended consequences should be handled in an equitable and fair manner. 
     
Bill Number:   SF 606
Topic Category:   Tax Credits
Summary:   This bill deals with act relating to the transfer of investment tax credits issued to housing businesses under the enterprise zone program. (Formerly SF 103)
Iowa Senate:  

Subcommittee: Feenstra, J Smith and Dawson
Floor Manager: Feenstra
Committee: Passed
Floor: 50-0

Iowa House:    
Governor:    
Position:   ITA is monitoring this bill
     
Bill Number:   HF 339 - SF 598
Topic Category:   Tax Credits
Summary:  

This bill deals with tax credits awarded by the economic development authority for equity investments in qualifying businesses or innovation funds. (Formerly HSB 84)(SF 321, SSB 1156)

Iowa Senate:   Subcommittee: Chapman, Dotzler & Nunn
Floor Manager: Johnson
Committee: Passed
Iowa House:  

Subcommittee: Carlson, McConkey & Wheeler
Floor Manager: Carlson
Committee: Passed
Floor: 95-2

Governor:    
Position:   ITA is monitoring this bill
     
Bill Number:   HF 778
Topic Category:   Capitol Gaines
Summary:   A bill for an act relating to taking a capital gain deduction for the sale of real property used in a farming business. (Formerly SF 627, SF 192 and HSB 188)
Iowa Senate:  

Subcommittee: Feenstra, Bolkom & Brown
Floor Manager: Feenstra
Committee: Passed
Floor: 49-0

Iowa House:  

Subcommittee: Zumbach, Isenhart and Sieck
Floor Manager: Zumbach
Committee: Passed
Floor: 68-32

Governor:  

Pending

Position:   ITA is monitoring this bill
     
Bill Number:   SF 593
Topic Category:   Capitol Gaines
Summary:  

A bill for an act relating to the exclusion from the individual income tax of certain net capital gains from the sale of real property used in a business.

Iowa Senate:  

Subcommittee: Sweeney, R. Smith & Wahls
Floor Manager: Sweeney

Iowa House:    
Governor:    
Position:   ITA is registered as undecided
     
Bill Number:   SF 307
Topic Category:   Inheritance Tax
Summary:  

This bill repeals the state inheritance tax and the state qualified use inheritance tax.

Iowa Senate:   Subcommittee: Feentra, Chapman and Quirmbach
Floor Manager: Feenstra
Committee: Passed
Iowa House:    
Governor:    
Position:   ITA is monitoring this bill, but will not register on this bill
     
Bill Number:   SJR 16
Topic Category:   Individual Income Tax
Summary:  

A joint resolution proposing an amendment to the Constitution of the State of Iowa relating to restricting certain individual income tax changes.

Iowa Senate:   Subcommittee: Carlin, Dotzler and Sweeney
Floor Manager: Carlin
Committee: Passed
Iowa House:    
Governor:    
Position:   ITA is monitoring this bill
     
Bill Number:   SF 617
Topic Category:   Gaming Tax/Fees
Summary:  

A bill for an act relating to gambling regulation and wagering, by providing for sports wagering and fantasy sports contests, providing for taxes and fees, making penalties applicable, and including implementation and effective date provisions. (Formerly SF 366, SSB 1168, HF 748, HR 648 and HSB 198)

Iowa Senate:   Subcommittee: R Smith, Dawson and Jochum
Floor Manager: R Smith
Committee: Passed
Floor: 31-18
Iowa House:  

Subcommittee: Kaufmann, Bossman, Forbes, Hein and Nielsen
Floor Manager: R Smith
Committeee: Passed
Floor: 67-31

Governor:  

Pending

Position:   ITA is not registered on this bill, just monitoring, this came from State Government Committee
     
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