A bill for an act relating to matters under the purview of the Iowa economic development authority, including tax credit limits, targeted jobs tax credits, and the major economic growth attraction program; creation of the business incentives for growth program, the seed investor tax credit program, the Iowa film production incentive program, the research and development tax credit program, and the sustainable aviation fuel production tax credit program; elimination of the high quality jobs program, the investments in qualifying businesses tax credit, employer child care tax credits, assistive device tax credits, endow Iowa tax credits, and research activities tax credits; and including effective date provisions and criminal penalties.
SSB 1205 significantly overhauls Iowa's economic development programs and tax credits, affecting businesses and investors within the state. It establishes several new initiatives, including the Business Incentives for Growth program, the Seed Investor Tax Credit program, and programs for film production, research and development, and sustainable aviation fuel. Concurrently, the bill eliminates multiple existing tax credit programs, such as the High Quality Jobs program, employer child care tax credits, and certain research activities tax credits. The legislation also sets an aggregate annual limit of $170 million for specific business development tax credits, with detailed allocations for the remaining and newly created programs.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 4, 2025
Last action May 12, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
3
Committee
3
May 12, 2025
Legislature · Passed
Committee report approving bill, renumbered as SF 657.
legislature
Mar 24, 2025
Legislature · Passed
Subcommittee Meeting: 03/27/2025 12:00PM Senate Lounge.
legislature
Mar 5, 2025
Legislature · Passed
Subcommittee: Dawson, Dotzler, and Klimesh.
legislature
Mar 4, 2025
Introduced
Introduced, referred to Ways and Means.
legislature
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
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