As the Iowa Legislative Session winds down here are a few of the key pieces of legislation the Fort Dodge Chamber and the Iowa Chamber Alliance are monitoring.
While the Iowa Chamber Alliance has taken formal positions on this legislation, the Fort Dodge Chamber is only monitoring them as they move through the legislative process. This summary is for informational purposes only.
SF 514 - Brownfields/Grayfields Tax Credit - ICA supports - Passed the House 90-1 with the expected amendment to change the wording to "up to $5 million" under the tax credit cap. It now goes to the Senate, where concurrence is likely.
HF 590 - Iowa Partnership for Economic Progress/Economic Development Authority - ICA supports - The Senate held a subcommittee hearing on the bill Tuesday morning to discuss the Senate's proposed amendment to the bill the House passed. The discussion is down to just a handful of issues. If approved, this legislation will reorganize economic development programs at the state level while continuing to support the Iowa Community College Job training programs.
SF 302 - Endow Iowa (community development foundations) Tax Credits - ICA supports - Passed the House 98-0 last week.
SF 521 - Historic Tax Credits - ICA supports - Signed into law by the governor on April 28.
HF 688 - Angel Investor Tax Credits - ICA supports - Up to $2 million for annually in angel investment tax credits for investments made in Iowa businesses with a net worth of $5 million or less
HF 691 - House Republican property tax reform plan. Floor debate likely next week.
SF 522 - Senate business property tax credit bill. Assigned a House sub last week.
(ICA supports both HF 691 and SF 522 in order to promote a dialogue between the two chambers on a compromise measure that substantially reduces and reforms commercial/industrial property taxes)
Budget bills - The governor and Senate Democrats continue to be at an impasse over the issue of biennial budgeting (two-year appropriation bills). The governor is insisting on two-year spending bills and the Senate is strongly resisting.
The "Standings" bill passed the Senate this week. It will be significantly altered in the House and it will likely be one of the last bills passed by the Legislature.
If you have questions, please contact the Chamber's Legislative Committee at: firstname.lastname@example.org.
This update was provided by the Legislative Committee of the Fort Dodge Area Chamber of Commerce.