Iowa Legislature 2008 Session Tax Proposals		Last updated:	3/3/2008
This listing is an attempt to track tax bills for Iowa's 2008 legislative session.  While we will
do our best to keep it up to date, we appreciate any updates or corrections our readers
may have.  Direct them to Joe Kristan (jkristan -at- rothcpa.com).
Bills that appear to have support of majority leadership are in green.
This listing only covers bills introduced in the 2008 session.  2007 session bills can be found at
this page.
House of Representatives		Click here to return to the Tax Update home page.
Bill Number	Description	Status	Prognosis
HF 2016	Volunteer firefighter tax credit	To Ways and Means, 1/15/08	No clue	HF	2016
HF 2020	Late claims for military service tax credits	To Ways and Means, 1/15/08	No clue	HF	2020
HF 2021	Tax credit for fitness club memberships for national guard members and volunteer firerfighters	To Ways and Means, 1/15/08	Dumb enough to pass?	HF	2021
HF 2025	Limits sales tax on bingo games to net receipts	To Ways and Means, 1/16/08	No clue	HF	2025
HF 2042	Relates to productivity formula for property tax on ag land	To Ways and Means, 1/18/08	No clue	HF	2042
HF 2049	Reduces property tax assessment for commercial property from 4% to 1%	Ways and Means 1/18/08	Not likely	HF	2049
HF 2066	Replaces local option school taxes with statewide 1 cent sales tax increase	To Education 1/24/08	Could pass	HF	2066
HF 2080	Tax credits for conservation donations of property	To Ways and Means, 1/25/08	No clue	HF	2080
HF 2095	Exempts investment advisory services from sales tax	Ways and Means 1/29/08	No clue	HF	2095
HF 2101	25% tax credit for businesses that higher math and science teachers for math and science work	To Education 1/30	No clue	HF	2101
HF 2102	Freezes property taxes on homes for old folks with income under $25,000	To Ways and Means 1/30	Not likely	HF	2102
HF 2125	Tax-exempt cash payments for Vietnam Vets	To Veterans Affairs 1/31	Not likely	HF	2125
HF 2150	Increases the state earned income credit from 7% of federal credit to 7.5%, effective for 2008	To Ways and Means 2/4	No clue	HF	2150
HF 2175	Raises the gambling tax rate for casinos to the same rate that applies to racetracks.  It doesn't raise the rate for boats.	To State Government 2/6	No clue	HF	2175
HF 2201	Exempts all Iowa Muni Bonds from Iowa individual and corporate tax.	To Ways and Means 2/8	Not likely	HF	2201
HF 2233	Great big sales and property tax giveaway to Microsoft	Signed into law 2/28/08	Sure thing	HF	2233
HF 2262	Sales tax exemptions business locating in specified downtowns	Ways and means 2/15	Not likely	HF	2262
HF 2342	Exempts federal stimulus rebates from Iowa income tax	Replaced by HF 2417	likely to pass	HF	2342
HF 2350	Exempts military retirement benefits from Iowa Ioncome tax	Ways and Means 2/21	Not likely	HF	2350
HF 2351	20% and 40% Brownfields" tax credit	Ways and Means 2/21	No clue	HF	2351
HF 2352	"Green building" property tax credits	Ways and Means 2/21	No clue	HF	2352
HF 2417	Exempts federal stimulus rebates from Iowa income tax	Passed House, 2/28/08	Sure thing	HF	2417
HF 2444	Lifts requirement that targeted jobs withholding credits be in "urban renewal" area	Ways and Means 2/21	No clue	HF	2444
HSB 591	Exempts debt instruments from the Iowa Finance Authority single and multi-family programs.	Ways and Means	Could pass	HSB	591
HSB 633	Sales tax exemptions for blood blanks	Ways and Means	No clue	HSB	633
HSB 662	Technical corrections, including provision allowing denial of sales tax permit for former tax delinquents. (similar to SSB 3058)	Ways and Means 2/13	No clue	HSB	662
HSB 715	Imposes unitary filing for corporation tax returns for years beginning on or after January 1, 2008	Ways and Means 2/26	Not likely	HSB	715
Senate
Bill Number	Description	Status	Prognosis
SF 1	Tax Exemption for nonprofit performing arts centers	To Ways and Means 1/14/08	No clue.	SF	1
SF 4	Sales tax exemption for casual sales of vehicles, airplanes and boats	To Ways and Means 1/8/08	No clue.	SF	4
SF 6	Doubles income limits for dependent care and early childhood credits	To Ways and Means 1/17/08	No clue.	SF	6
SF 2019	Increase in maximum property tax rate	To Ways and Means 1/17/08	No clue.	SF	2019
SF 2024	Doubles bottle deposit, holds back 2 cents of refund	To Ways and Means 1/17/08	No way.	SF	2024
SF 2026	Increases phaseout range of dependent credit to $80,000, from current $45,000	To Ways and Means 1/22	No clue.	SF	2026
SF 2038	Increases maximum business investment and seed capital fund tax credits	To Ways and Means 1/23/08	No clue.	SF	2038
SF 2064	Creates $250 tax credit for purchases of school materials by teachers, effective for 2008	To Ways and Means 1/29	No clue.	SF	2064
SF 2068	Sales tax exemption for ski lift tickets	Introduced 1/28	No clue.	SF	2068
SF 2075	Expands barn preservation property tax break to all barns at least 50 years old	Ways and Means 1/30	No clue.	SF	2075
SF 2077	Allows wind energy credit to both on-site use and when energy is sold	Natural Resources and Environment, 1/30	No clue.	SF	2077
SF 2084	"Green Building Tax Credits" for buildings, fuel cells, wind turbines, etc.	Ways and Means 1/30	Not likely	SF	2084
SF 2114	Sales Tax Exemption for light bulbs used in egg-laying operations	Ways and Means 2/6	No clue.	SF	2114
SF 2123	Conforms Iowa tax rules to Internal Revenue Code	Passed Senate 2/12	Likely to pass	SF	2123
SF 2140	Increase dependent exemption from current $40 to $100, starting 2008.	Introduced 2/11	Unlikely to pass	SF	2140
SF 2174	Child abuse protection fund tax checkoff	Voted out of Ways and Means 2/14	Likely to pass	SF	2174
SF 2178	Increases Endow Iowa credit annual limit from $2 million to $3 million, while limiting any individual to 3 1/3% of the total credits authorized.	Ways and Means, 2/20/08	No clue.	SF	2178
SF 2180	Increases investment credits from 10% to 12% for energy-zone buildings meeting certain energy efficiency standards	Ways and Means, 2/20/08	No clue.	SF	2180
SF 2201	Exempts federal stimulus rebates from Iowa income tax (same as HF 2417)	Ways and Means, 2/20/08	Sure thing	SF	2201
SF 2231	Increases authorized seed capital credit to $12.5 million and makes other changes in the program (Successor to SSB 3129)	Ways and Means, 2/26/08	No clue.	SF	2231
SSB 3056	Doubles renewable energy credits from $1 million to $2 million	Ways and Means	No clue.	SSB	3056
SSB 3057	Increases Endow Iowa credit annual limit from $2 million to $3 million, while limiting any individual to 3 1/3% of the total credits authorized.	Replaced by SF 2178	No clue.	SSB	3057
SSB 3058	Technical corrections, including provision allowing denial of sales tax permit for former tax delinquents.	Ways and Means	No clue.	SSB	3058
SSB 3059	Conforms Iowa tax rules to Internal Revenue Code	Reintroduced as SF 2123 2/8	Likely to pass	SSB	3059
SSB 3109	Increases state earned income credit from 7% to 10%.	Ways and Means 1/30	No clue.	SSB	3109
SSB 3110	Sales tax exemption for sales to blood banks	Ways and Means 1/30	No clue.	SSB	3110
SSB 3126	Allows suspension of sales tax permit for violation of gambling rules; allows department to waive penalties and interest on late filings in disaster areas; prohibits recipients of "endow Iowa" tax credits from taking an Iowa charitable deduction for the same gift to a community foundation; repeals 3-year deferral for an "eligible" start-up business.	Ways and Means	No clue.	SSB	3126
SSB 3129	See SF 2231			SSB	3129
SSB 3148	Child abuse protection fund tax checkoff	Reintroduced as SF 2174 2/14	No clue.	SSB	3148
SSB 3168	Corporation tax credit for easements of railroad rights-of-way for trails	Introduced 2/11	No clue.	SSB	3168
SSB 3184	Senate version of Microsoft giveaway; same as HF 2233, which was signed 2/28/08	Introduced 2/14	Sure thing	SSB	3184
SSB 3192	Refundable credits up to $250 for employer contributions to new "lifelong learning accounts	Ways and Means	Not likely	SSB	3192
SSB 3236	Imposes unitary filing for corporation tax returns for years beginning on or after January 1, 2008	Ways and Means	Not likely	SSB	3236
SSB 3243	Allows cities to impose an income tax surcharge of up to 5% for "property tax relief"	Ways and Means	Not likely	SSB	3243