A bill for an act relating to the disclosure of tax incentives provided to web search portal businesses and data center businesses, and including effective date provisions.

HF 2198 requires web search portal businesses and data center businesses in Iowa to register with the Department of Revenue and file annual reports starting January 31, 2026. These reports must detail purchases of exempt property, backup power fuel, and electricity used for qualifying purposes. Beginning January 31, 2027, the Department will estimate the tax savings for these businesses based on their reports, and both the business name and estimated tax savings will become public records. The bill also mandates that the Economic Development Authority post all tax incentives provided to these businesses in a searchable public database within 30 days of the law's effective date. This law directly affects businesses receiving sales and use tax incentives under Iowa's tax code.