Energy (Economic Development)

This bill reorganizes Iowa's economic development tax credit programs. It creates five new programs (business incentives for growth, seed investor credits, film production incentives, R&D credits, and sustainable aviation fuel credits) while eliminating seven existing ones (including high quality jobs and employer childcare credits). The bill sets a $170 million annual limit for most tax credits, with specific allocations like $68 million for high quality jobs (though this program is being eliminated), $40 million for R&D credits, and $50 million for the new business incentives program. It also requires the Economic Development Authority to report annual credit allocations to the Department of Revenue.