This bill modifies Iowa's urban renewal law to change how property tax revenue is shared for emergency medical services. Specifically, it prevents taxes collected for emergency medical services from being used to pay off municipal loans or fund urban renewal projects. Instead, these taxes must be collected from all property within the taxing district without being diverted to a special fund for city debt or low-income housing assistance. The changes apply to property taxes due in fiscal years starting on or after July 1, 2026, and take effect immediately upon signing.
This bill clarifies which organizations qualify for property tax exemptions by explicitly defining "religious institutions or societies." It ensures that churches, associations of churches, and religious nonprofit corporations organized for primary religious purposes are included, even if they are not affiliated with a specific house of worship. The changes will take effect for tax assessments starting on or after January 1, 2027.
This bill modifies Iowa's urban renewal tax rules to ensure that property taxes collected for emergency medical services are not used to pay off municipal debt or fund low-income housing projects. Under the new provisions, these specific emergency medical service taxes must be collected from all taxable property within the district without being diverted to special funds for urban renewal. The changes apply to property taxes due in fiscal years starting on or after July 1, 2027.
This bill allows certain Iowa school districts to temporarily exceed their usual cash reserve tax limits for the 2026-2027 school year if a single property tax correction caused their taxable value to drop by at least $100 million. To do this, the districts must offset the extra money raised for reserves by reducing other local property taxes, such as the management levy, ensuring the total tax amount remains within legal limits. The process requires the district to notify the Department of Management, which will then adjust the official tax rates to reflect these changes. This measure is designed to help districts maintain financial stability after a significant administrative error in property valuation.
This bill modifies Iowa's urban renewal tax rules to clarify how property tax revenue is shared between cities and school districts. It ensures that excess taxes collected for urban renewal projects are used to pay off city debt and support low-income housing, while explicitly excluding certain school and emergency service taxes from this specific revenue-sharing arrangement. The changes apply to property taxes due in fiscal years starting on or after July 1, 2027.
This bill establishes a new property tax framework for Iowa counties that takes effect between 2024 and 2028, setting minimum tax rates for both general and rural county services. The legislation requires counties to collect at least 101.5% of current property tax revenue for budget years starting in 2028, while also allowing adjustments based on changes in the consumer price index to account for inflation. Counties must choose between meeting a fixed dollar amount per thousand dollars of assessed value or maintaining a specific percentage increase in tax revenue, whichever is greater. The bill also includes provisions that limit tax rate increases if property assessments rise significantly, ensuring that tax burdens do not grow faster than property values.
This Iowa bill modifies property tax rules and budget limits for state and local governments, affecting cities, counties, and other public entities that levy property taxes. It establishes a new cap on general fund reserves, limiting unassigned funds to 35% of prior year expenditures starting in fiscal year 2027, and creates a new property tax levy limit that allows annual increases of up to 102% for existing property valuations. The legislation also updates audit requirements for local governments, clarifies how unliquidated obligations are recorded, and excludes school districts from certain reserve and levy limitation provisions.
This bill establishes funding and programs to improve water quality in Iowa through agricultural best management practices, tax credits, and monitoring initiatives. It allocates approximately $28 million to support a water quality monitoring network and the water quality initiative, which will help farmers implement practices that reduce nutrient pollution in watersheds. The legislation creates a tax credit for agricultural operations that install eligible water quality practices and expands funding for the Iowa Clean Water Farm Program to encourage voluntary adoption of conservation measures. Additionally, the bill provides for water quality practices loans and establishes a cost-share program where the state may contribute up to 50 percent of the cost for eligible projects, while also supporting urban soil and water conservation efforts.
This bill establishes new formulas for calculating state funding increases for schools starting in 2026, directly affecting all public school districts. It modifies how property tax replacement payments are handled, changes transportation equity aid funding rules, and sets new methods for adjusting school district budgets based on enrollment changes. The bill also creates a salary supplement for education support personnel and includes funding appropriations to implement these changes. All provisions take effect for the 2026 budget year.
HF 2550 establishes Iowa's Small Modular Reactor Committee within the Economic Development Authority to coordinate statewide development of small nuclear reactors. The bill creates financial incentives including a 30% tax credit on qualified capital investments for businesses building reactor projects (like design, manufacturing, power generation, or related supply chains) starting in 2027. It also allows communities to grant property tax exemptions for up to 20 years on improvements directly tied to jobs created by these facilities. The committee will review project applications within 180 days, designate priority development zones, and administer these incentives.
