A bill for an act creating the quantum technology tax credit available against the individual and corporate income taxes, and including applicability provisions.

HSB 130 creates a tax credit for Iowa businesses and nonprofits investing in quantum technology infrastructure. It allows eligible applicants (including consortia) to claim credits against individual or corporate income taxes for qualifying capital investments - like lab equipment and software - used to build shared quantum facilities, provided they secure at least $2 million in federal grants. The credit is available for tax years 2026-2032, with annual funding capped at $24 million and a total program limit of $44 million. To qualify, projects must be completed before 2031 and approved by Iowa’s authority, with credits refundable if exceeding tax liability.