Bill Text: IA HF83 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act creating a legislative tax credit review committee as a committee of the legislative council.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2021-01-15 - Introduced, referred to Ways and Means. H.J. 110. [HF83 Detail]
Download: Iowa-2021-HF83-Introduced.html
House
File
83
-
Introduced
HOUSE
FILE
83
BY
JACOBY
A
BILL
FOR
An
Act
creating
a
legislative
tax
credit
review
committee
as
a
1
committee
of
the
legislative
council.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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Section
1.
Section
2.45,
Code
2021,
is
amended
by
adding
the
1
following
new
subsection:
2
NEW
SUBSECTION
.
5A.
a.
The
legislative
tax
credit
review
3
committee
which
shall
be
composed
of
ten
members
of
the
general
4
assembly,
consisting
of
five
members
from
each
house,
to
be
5
appointed
by
the
legislative
council.
In
appointing
the
five
6
members
of
each
house
to
the
committee,
the
council
shall
7
appoint
three
members
from
the
majority
party
and
two
members
8
from
the
minority
party.
9
b.
The
legislative
tax
credit
review
committee
shall
have
10
the
powers
and
duties
described
in
section
2.49.
11
Sec.
2.
NEW
SECTION
.
2.49
Legislative
tax
credit
review
12
committee.
13
1.
Duties
of
committee.
The
legislative
tax
credit
review
14
committee
shall
do
all
of
the
following:
15
a.
Evaluate
each
tax
credit
listed
in
subsection
3
according
16
to
the
guidelines
set
forth
in
subsection
2
and
assess
its
17
equity,
simplicity,
competitiveness,
public
purpose,
adequacy,
18
and
extent
of
conformance
with
the
original
purpose
of
the
19
legislation
that
enacted
the
tax
credit,
as
those
issues
20
pertain
to
taxation
in
Iowa.
For
purposes
of
this
section,
“tax
21
credit”
includes
any
tax
credit
or
other
tax
incentive
listed
in
22
subsection
3
or
provided
under
a
program
listed
in
subsection
23
3.
24
b.
For
each
tax
credit
reviewed,
the
committee
shall
submit
25
a
report
to
the
legislative
council
containing
the
results
26
of
the
review.
The
report
shall
contain
a
statement
of
the
27
policy
goals
of
the
tax
credit
and
shall
attempt
to
calculate
a
28
return
on
investment
for
each
tax
credit,
unless
the
committee
29
determines
such
a
calculation
is
not
within
the
capabilities
30
of
the
committee.
For
purposes
of
this
paragraph,
“return
31
on
investment”
means
the
net
value,
if
any,
provided
to
the
32
state
by
a
tax
credit
after
analyzing
the
cost
to
the
state
33
against
the
benefit
realized
by
the
state
of
offering
that
34
particular
tax
credit.
The
report
may
include
recommendations
35
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for
better
aligning
tax
credits
with
the
original
intent
of
1
the
legislation
or
with
the
changing
circumstances
of
the
2
state,
or
recommendations
for
the
imposition
of
a
limitation
3
on
a
specified
tax
credit,
a
limit
on
the
total
amount
of
tax
4
credits,
or
any
other
recommendation
for
a
specific
tax
credit
5
or
the
program
under
which
the
tax
credit
is
provided.
6
2.
Public
meetings.
7
a.
The
committee
shall
conduct
reviews
of
each
tax
credit
8
listed
in
subsection
3
using
a
public
meeting
format
that
9
invites
substantial
and
meaningful
input
and
comment
from
both
10
subject
matter
experts
and
the
general
public.
11
b.
Each
year,
the
committee
shall
conduct
at
least
one
12
public
meeting
for
each
tax
credit
reviewed,
and
no
more
13
than
one
tax
credit
shall
be
reviewed
at
each
meeting.
The
14
committee
shall
designate
a
time
and
place
for
a
public
15
meeting
and
provide
public
notice
at
least
five
days
prior
to
16
a
meeting.
17
3.
Schedule
of
review
of
tax
credits.
The
committee
shall
18
review
the
following
tax
credits
according
to
the
following
19
schedule:
20
a.
In
each
even-numbered
year:
21
(1)
The
accelerated
career
education
program
job
credit
22
allowed
under
section
260G.4A.
23
(2)
The
assistive
device
tax
credit
allowed
under
section
24
422.33.
25
(3)
The
endow
Iowa
tax
credit
allowed
under
section
15E.305.
26
(4)
The
high
quality
jobs
program
under
chapter
15,
27
subchapter
II,
part
13.
28
(5)
The
redevelopment
tax
credit
allowed
under
section
29
15.293A.
30
(6)
The
renewable
energy
tax
credit
allowed
under
chapter
31
476C.
32
(7)
The
solar
energy
system
tax
credit
allowed
under
33
sections
422.llL
and
422.33.
34
(8)
The
tax
credit
for
investments
in
a
qualifying
business
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under
chapter
15E,
subchapter
V.
1
(9)
The
wind
energy
production
tax
credit
allowed
under
2
chapter
476B.
3
(10)
The
adoption
tax
credit
allowed
under
section
422.12A.
4
(11)
The
charitable
conservation
contribution
tax
credit
5
allowed
under
sections
422.11W
and
422.33.
6
(12)
The
E-15
plus
gasoline
promotion
tax
credit
allowed
7
under
sections
422.11Y
and
422.33.
8
(13)
The
industrial
new
jobs
training
program
under
chapter
9
260E.
10
b.
In
each
odd-numbered
year:
11
(1)
The
beginning
farmer
tax
credit
allowed
under
section
12
16.81.
13
(2)
The
historic
preservation
tax
credit
allowed
under
14
chapter
404A.
15
(3)
The
renewable
chemical
production
tax
credit
under
16
sections
15.315
through
15.322.
17
(4)
The
school
tuition
organization
tax
credit
allowed
18
under
sections
422.11S
and
422.33.
19
(5)
The
innovation
fund
investment
tax
credit
allowed
under
20
section
15E.52.
21
(6)
The
workforce
housing
tax
incentives
program
under
22
sections
15.351
through
15.356.
23
(7)
The
biodiesel
blended
fuel
tax
credit
allowed
under
24
sections
422.11P
and
422.33.
25
(8)
The
child
and
dependent
care
tax
credit
allowed
under
26
section
422.12C.
27
(9)
The
E-85
gasoline
promotion
tax
credit
allowed
under
28
sections
422.110
and
422.33.
29
(10)
The
earned
income
tax
credit
allowed
under
section
30
422.12B.
31
(11)
The
farm
to
food
donation
tax
credit
allowed
under
32
chapter
190B.
33
(12)
The
research
activities
tax
credits
allowed
under
34
sections
15.335,
422.10,
and
422.33.
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(13)
The
tuition
and
textbook
tax
credit
allowed
under
1
section
422.12.
2
(14)
The
volunteer
fire
fighter
and
emergency
medical
3
services
personnel
and
reserve
peace
officer
tax
credits
4
allowed
under
section
422.12.
5
EXPLANATION
6
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
7
the
explanation’s
substance
by
the
members
of
the
general
assembly.
8
This
bill
creates
a
legislative
tax
credit
review
committee
9
(committee)
as
part
of
the
legislative
council
to
review
10
specified
tax
credits.
The
committee
shall
be
composed
of
10
11
members
of
the
general
assembly
appointed
by
the
legislative
12
council,
consisting
of
five
from
each
house,
three
from
each
13
majority
party,
and
two
from
the
minority
party.
14
The
committee
is
charged
with
evaluating
a
specified
15
list
of
tax
credits
and
incentives
listed
in
the
bill
each
16
even-numbered
and
odd-numbered
year,
so
that
the
full
list
17
is
reviewed
every
two
years.
The
tax
credit
review
list
18
contains
the
tax
credits
and
incentives
listed
in
the
most
19
recent
tax
credits
contingent
liabilities
report
published
by
20
the
department
of
revenue
and
not
previously
repealed
by
the
21
general
assembly.
22
The
committee
is
required
to
review
tax
credits
and
23
incentives
using
a
public
meeting
format
that
invites
24
substantial
and
meaningful
input
and
comment
from
both
25
subject
matter
experts
and
the
general
public.
Each
year,
the
26
committee
is
required
to
conduct
at
least
one
public
meeting
27
for
each
tax
credit
or
incentive
reviewed,
and
no
more
than
28
one
tax
credit
or
incentive
shall
be
reviewed
at
each
meeting.
29
Public
notice
of
the
time
and
place
must
be
provided
at
least
30
five
days
prior
to
each
meeting.
31
In
reviewing
tax
credits
and
incentives,
the
committee
32
is
required
to
make
certain
assessments
as
described
in
the
33
bill
and
to
produce
reports
containing
certain
information
as
34
described
in
the
bill.
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