ITA Bill Watch - Iowa Taxpayers Association

ITA Bill Watch

Following are the bills ITA is watching

Updated March 8, 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. Formerely 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
Governor:    
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:   HSB 165
Topic Category:   Property Tax
Summary:   A bill for an act establishing budget limitations for counties and cities and including applicability provisions.
Iowa Senate:   Subcommittee: Hite, Bloomingdale, Brown-Powers, Forbes and Hein
Floor Manager: Hite
Iowa House:    
Governor:    
Position:   ITA is registered undecided; however, will change to for when they include our recommendations for an amendment
     
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: Feenstra, Chapman and Quimbach
Floor Manager: Feenstra
Committee: Passed
Iowa House:    
Governor:    
Position:   ITA is monitoring this bill presently, but we will not register on this bill
     
Bill Number:   SSB 1114
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. Companion bill, HSB 161
Iowa Senate:   Subcommittee: Feenstra, Jochum and R Smith
Floor Manager: Feenstra
Iowa House:    
Governor:    
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:   HSB 161
Topic Category:   Sales Tax
Summary:   A bill for an act exempting from the sales tax certain items and services sold or furnished to nonprofit blood centers, including effective date and retroactive applicability provisions. Companion bill SSB 1114
Iowa Senate:   Subcommittee: Bossman, Brown-Powers and Windschitl
Floor Manager: Bossman
Committee: Passed
Iowa House:    
Governor:    
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 39
Topic Category:   Inheritance Tax
Summary:   This bill reduces the state inheritance tax rates and then a future repeal.
Iowa Senate:   Subcommittee: Feenstra, Bolkcom and Chapman
Iowa House:    
Governor:    
Position:   ITA is monitoring this bill
     
Bill Number:   SF 103
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.
Iowa Senate:   Subcommittee: Feenstra, J Smith and Dawson
Iowa House:    
Governor:    
Position:   ITA is monitoring 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
Iowa House:    
Governor:    
Position:   ITA is monitoring this bill
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