Budget & Taxes (Tax Credits)

in committee · Iowa · House Feb 24, 2025

HF 566: A bill for an act modifying individual income tax rates and providing tax credits for certain married persons filing a joint return, and including effective date and retroactive applicability provisions.

HF 566 modifies Iowa's individual income tax rates for married couples filing jointly. It sets the tax rate to 0% for couples with five or more dependents under 18 or for first/second-time joint filers, and creates a $1,000 per dependent tax credit (up to 10 dependents under 18) for these couples. Any excess credit is refundable or can be applied to future tax bills. The bill takes effect immediately upon enactment and applies retroactively to tax years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief via 0% rate and $1,000 per dependent credit for qualifying families, reducing tax burden on middle/lower income.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Iowa · House Mar 13, 2025

HF 958: A bill for an act creating a premarital counseling tax credit available against the individual income tax, and including retroactive applicability provisions.

HF 958 creates a tax credit for Iowa individual income taxpayers who pay for premarital counseling, reducing their tax bill by up to $500 per couple. The credit covers the full cost of counseling services (defined as preparation for marriage), with any unused portion carried forward to future tax years but not refunded. This credit applies retroactively to tax years beginning January 1, 2025, meaning couples can claim it for 2025 and later tax filings. It directly affects Iowa residents seeking premarital counseling services who file individual income tax returns.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing individual income tax liability, aligning with tax relief indicator for Budget & Taxes.95% confidence

Sub-Topics Tax Credits

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in committee · Iowa · House Mar 3, 2026

HF 327: A bill for an act creating an advanced registered nurse practitioner preceptor tax credit available against the individual income tax, and including applicability provisions.

HF 327 creates a tax credit for Iowa residents who serve as clinical preceptors for advanced registered nurse practitioner students. The credit provides $1,000 per clinical preceptorship (involving at least 100 hours of supervised learning) with a maximum $2,000 annual credit, directly affecting licensed nurse practitioners who mentor students without compensation. To qualify, preceptors must be employed at the clinical site, selected by the nursing program, and have at least one year of mentoring experience. The credit is refundable if it exceeds tax liability, and preceptors must document student details including hours and program information. The bill applies to tax years beginning January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing taxable income for qualifying preceptors, aligning with tax relief indicators for middle-income professionals in public service roles.95% confidence ✓ EducationSupports EducationBill provides tax credit to incentivize nursing preceptors, supporting higher education workforce development in healthcare education.85% confidence ✓ HealthcareSupports HealthcareCreates tax credit to incentivize nurse practitioner mentorship, expanding healthcare workforce training and improving access to care.92% confidence

Sub-Topics Tax Credits Healthcare Workforce

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in committee · Iowa · House Mar 24, 2025

HSB 318: A bill for an act relating to fuel taxation by extending tax credits for E-15 gasoline available against the individual and corporate income taxes.

This bill extends Iowa's existing tax credit for E-15 gasoline, allowing retail gas dealers to continue claiming the credit against individual and corporate income taxes through 2028 (previously set to expire in 2026). It specifically allows dealers to claim the E-15 promotion tax credit for the full tax year, even if their tax year doesn't align with calendar years. The extension also preserves eligibility for the E-85 promotion tax credit when a dealer claims the E-15 credit in the same year. This change directly affects retail gasoline dealers who sell E-15 fuel, providing continued tax relief for their business operations.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credit for E-15 gasoline, maintaining tax relief for dealers and preserving existing fiscal support under taxation policy.95% confidence ✓ EnergySupports EnergyExtends tax credits for E-15/E-85 renewable fuel blends, promoting biofuel adoption and supporting renewable energy infrastructure through tax incentives.95% confidence ✓ EnvironmentSupports EnvironmentExtends tax credit for E-15 (15% ethanol blend), promoting renewable fuel use and reducing fossil fuel dependence per clean energy indicators.85% confidence

Sub-Topics Tax Credits

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passed · Iowa · House Apr 28, 2025

HF 1020: A bill for an act modifying the child and dependent care credit available against the individual income tax, and including retroactive applicability provisions.

HF 1020 modifies the child and dependent care tax credit available to individual income taxpayers in Iowa. The bill revises the structure of the credit by reducing the number of income thresholds from seven to four. It removes the previous maximum income threshold of $90,000, making all taxpayers eligible, with those earning $25,000 or more now able to claim 50% of the federal credit. These changes apply retroactively to tax years beginning on or after January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit eligibility to middle-income earners ($25k+), providing tax relief through modified structure and retroactive application.95% confidence

Sub-Topics Tax Credits

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died · Iowa · House May 14, 2025

HF 132: A bill for an act providing for an individual income tax credit for the purchase of firearm safety devices and including retroactive and other applicability provisions.

House File 132 creates an individual income tax credit for taxpayers who purchase firearm safety devices. This credit is equal to the sales price of the device, up to a maximum of $500 per tax year. A "firearm safety device" includes mechanisms designed to prevent a firearm from being operated without deactivation, or new, steel gun safes purchased for personal use from licensed dealers or retailers. Any unused credit can be carried over to the following tax year, and the bill applies retroactively to purchases made on or after January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates an individual income tax credit (tax relief) for firearm safety devices, directly addressing tax policy within the Budget & Taxes topic.95% confidence

Sub-Topics Income Tax Tax Credits

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passed · Iowa · House May 20, 2025

HF 1034: A bill for an act providing for an individual income tax credit for the purchase of firearm safety devices and including retroactive and other applicability provisions.

HF 1034 creates a new individual income tax credit in Iowa for taxpayers who purchase firearm safety devices. The credit is equal to the sales price of the device, up to a maximum of $500. Eligible devices include those designed to prevent a firearm from being operated without deactivation, or a new, personal-use "qualified gun safe" made of steel or similar strong material. Any unused credit can be carried over to the following tax year, and the bill applies retroactively to purchases made on or after January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit reducing individual tax liability for firearm safety device purchases, aligning with tax relief indicators.90% confidence

Sub-Topics Tax Credits

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passed · Iowa · House May 20, 2025

HF 1026: A bill for an act relating to the adoption tax credit available against the individual income tax, and including effective date and retroactive applicability provisions.

HF 1026 updates the adoption tax credit available against individual income tax for taxpayers in Iowa. The bill increases the maximum credit for qualified adoption expenses from $5,000 to $20,000 per adoption. It also specifies that any credit amount exceeding a taxpayer's liability is refundable. This act takes effect upon enactment and applies retroactively to adoptions finalized on or after January 1, 2024, for tax years beginning on or after that date.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases adoption tax credit from $5k to $20k and makes it refundable, providing tax relief for adoptive families.95% confidence

Sub-Topics Tax Credits

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signed · Iowa · Senate Jun 27, 2025

SF 657: A bill for an act related to state taxation and finance and other related matters, by creating, modifying, and eliminating tax credits and tax incentive programs, providing for penalties, and including effective date and retroactive applicability provisions.

SF 657 modifies the state's tax credit system by creating new credits, changing existing ones, and eliminating some tax incentive programs. It establishes penalties for failing to comply with these tax credit rules and specifies when the changes take effect, including retroactive application to prior tax years. This bill directly affects businesses and individuals who claim tax credits under the state's finance code. Signed into law by the Governor on June 6, 2025, it changes how taxpayers access and qualify for state tax incentives.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates new tax credits and modifies existing ones to support business development and economic growth, aligning with fiscal responsibility measures.92% confidence

Sub-Topics Tax Credits Tax Incentives