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
       
       
       
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