RSSSSB 3116 – Earned Income Tax Credit COMMITTEE ACTION: SSB 3116 increases the amount of the Earned Income Tax Credit (EITC). Currently, the credit is 7 percent of the federal Earned Income Tax Credit. The bill increases the amount to 13 percent of the federal credit and the Iowa EITC remains a refundable credit. The [...]
Read the full story >>Senate Majority Leader Mike Gronstal hosted the weekly statehouse leadership press conference on February 9, 2012
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“This year I’m confident that no tax cut will pass the Senate Ways and Means Committee before the working families tax cut is passed for the third time by the Senate, is passed for the third time by the House, and finally signed into law by Governor Branstad.”
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An update on Tax Increment Financing (TIF) discussions, including a statement from Senator Joe Bolkcom, Chair of the Senate Ways and Means Committee, video from Coralville discussion, and recent news clips.
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The meeting is an opportunity for the public to hear directly from local government leaders on the use of TIF in Johnson County.
Read the full story >>Here’s the question that I want to hear answered today. ‘Why does an Iowan making $17,500 a year pay more in state income taxes than some of the largest, most profitable corporations in the world, corporations which are making money in Iowa?’
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The Legislature adjourned for the summer on June 30. The Senate Democratic Research staff has compiled a review to help you sort through the highlights, low-lights and missed opportunities of the 2011 legislative session. (Updated 8/1/11)
Read the full story >>STAFF CONTACT: Kris Bell SF 514 – Brownfields and Grayfields Tax Credits SF 534 (SSB 1212) – Certificate of Need HF 672 – Wind and other renewable energy tax credits FLOOR ACTION: SF 514, as amended by the House, requires the Department of Economic Development to allocate up to $5 million in tax credits for [...]
Read the full story >>STAFF CONTACT: Kris Bell SF 531 – Biofuels HF 652 – Active Duty Military Pay Income Tax Exemption HF 672 – Wind and other renewable energy tax credits HF 676 – Tax exemption for non-profit vehicles leases FLOOR ACTION: SF 531 changes the Iowa renewable fuel standard (RFS) incentives by increasing the amount of incentive [...]
Read the full story >>STAFF CONTACT: Kris Bell SF 530 – Family Farm Tax Credit SF 531 – Biofuels HF 652 – Active Duty Military Pay Income Tax Exemption HF 676 – Non-profit vehicle lease tax exemption HF 679 – Cogeneration Replacement Tax FLOOR AND COMMITTEE ACTION: HF 679 corrects certain ambiguities in tax law relating to the machinery [...]
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