Bill Text: IA HSB241 | 2015-2016 | 86th General Assembly | Introduced
Bill Title: A study bill for increasing the annual aggregate tax credit authorization limit for the endow Iowa tax credit and including effective date provisions.
Spectrum: Unknown
Status: (Introduced - Dead) 2015-04-23 - 9:00AM; House Lounge Ways and Means. [HSB241 Detail]
Download: Iowa-2015-HSB241-Introduced.html
House
Study
Bill
241
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
SANDS)
A
BILL
FOR
An
Act
increasing
the
annual
aggregate
tax
credit
authorization
1
limit
for
the
endow
Iowa
tax
credit
and
including
effective
2
date
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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2015YC
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mm/sc
H.F.
_____
Section
1.
Section
15E.305,
subsection
2,
unnumbered
1
paragraph
1,
Code
2015,
is
amended
to
read
as
follows:
2
The
aggregate
amount
of
tax
credits
authorized
pursuant
to
3
this
section
shall
not
exceed
a
total
of
six
seven
million
five
4
hundred
thousand
dollars
annually.
5
Sec.
2.
EFFECTIVE
DATE.
This
Act
takes
effect
January
1,
6
2016.
7
EXPLANATION
8
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
9
the
explanation’s
substance
by
the
members
of
the
general
assembly.
10
This
bill
increases
to
$7.5
million
from
$6
million
the
11
amount
of
endow
Iowa
tax
credits
that
may
be
authorized
in
a
12
calendar
year
by
the
economic
development
authority.
13
The
bill
takes
effect
January
1,
2016.
14
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1/
1
