Veterans (Small Business)

This bill raises the annual gross income limit for businesses to qualify as "targeted small businesses" in Iowa from $4 million to $200 million. It directly affects Iowa businesses that are 51% owned and operated by women, minorities, service-disabled veterans, or people with disabilities. Under the change, qualifying businesses must now have less than $200 million in average annual gross income (over three years) instead of the current $4 million cap. This adjustment would allow larger businesses to access programs supporting these ownership groups.

HF 872 proposes to amend the criteria for an enterprise to qualify as a "targeted small business" in Iowa. The bill directly affects small businesses that are majority-owned and operated by women, minority persons, service-disabled veterans, or persons with a disability. It increases the maximum annual gross income threshold for these businesses to qualify, raising it from less than $4 million to less than $10 million, averaged over the three preceding fiscal years. This change would allow more businesses to be recognized under the "targeted small business" designation.