A bill for an act excluding the net capital gain from the sale of gold or silver from the calculations of Iowa net income for purposes of the individual income tax, and including effective date and retroactive applicability provisions.

HF 567 excludes net capital gains from selling gold or silver from Iowa's individual income tax calculations. It directly affects Iowa taxpayers who sell gold or silver coins, bars, ingots, or pure gold/silver, allowing them to subtract these gains when computing taxable income. The bill defines "gold or silver" broadly to include common forms like coins and bars, and applies retroactively to tax years starting January 1, 2025. This change modifies how certain investment gains are taxed but does not alter the tax rate applied to other income.