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Iowa House Bill HF2657
Iowa 2023-2024 Regular Session
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Iowa 2023-2024 Regular Session

Iowa House Bill HF2657

Introduced
3/14/24  

Caption

A bill for an act repealing the excise tax on the handling of grain.(Formerly HSB 734.)

Impact

By repealing this excise tax, HF2657 could lead to significant changes in the financial landscape for grain handlers and farmers in Iowa. The removal of the tax is expected to reduce operational costs for those engaged in grain storage, processing, and sales. This could enhance competitiveness and profitability within the sector. As the revenue generated from this tax was distributed among various taxing authorities within the district as part of local property taxes, the repeal may raise concerns about potential revenue shortfalls for certain local governments. Discussions may arise regarding how these entities will adjust to this loss of revenue.

Summary

House File 2657 is a legislative proposal aimed at repealing the excise tax on the handling of grain in Iowa. This tax, previously set at one-fourth mill per bushel on all grain handled, includes a variety of grains such as wheat, corn, barley, oats, and soybeans. The repeal intends to alleviate the tax burden on grain handlers, which could support the agricultural sector, a crucial element of Iowa's economy. This proposal is recognized as a successor to another bill, HSB 734, which indicates a continuous effort to reform tax policies impacting the agricultural industry.

Contention

The bill's introduction and support reflect a broader legislative trend towards favoring agricultural interests, but it may also ignite debates among lawmakers on the balance between supporting the farming community and ensuring adequate funding for local governance. Critics might argue that the repeal of the excise tax on grain handling could exacerbate budgetary constraints faced by local governments that relied on these funds for essential services. As such, HF2657 encapsulates the ongoing tension in state lawmaking between economic incentives for agriculture and fiscal responsibilities to local communities.

Latest IA HF2657 Activity

View All Events: IA 2023-2024 Regular Session HF2657

Companion Bills

IA HSB734

Related A bill for an act repealing the excise tax on the handling of grain.(See HF 2657.)

Previously Filed As

IA HF2748

A bill for an act relating to agriculture, including by providing for the powers and duties of the department of agriculture and land stewardship, including the promotion and regulation of commodities and products; the regulation of the transportation of agricultural commodities; the use of agricultural land; and taxation, including property taxes, excise and sales taxes, and income taxes; making penalties applicable; and including effective date and applicability provisions. (Formerly HF 2340, HSB 588.)

IA HF2798

A bill for an act relating to the excise tax on certain ethanol blended gasoline purchased exclusively for use in an implement of husbandry used in agricultural production.(Formerly HF 2343, HSB 561.)

IA HF2340

A bill for an act relating to agriculture, including by providing for the powers and duties of the department of agriculture and land stewardship, including the promotion and regulation of commodities and products; the regulation of the transportation of agricultural commodities; the use of agricultural land; and taxation, including property taxes, excise and sales taxes, and income taxes; making penalties applicable; and including effective date and applicability provisions.(Formerly HSB 588; See HF 2748.)

IA HF2343

A bill for an act relating to the excise tax on certain ethanol blended gasoline purchased exclusively for use in an implement of husbandry used in agricultural production.(Formerly HSB 561; See HF 2798.)

IA HF2596

A bill for an act regulating the marketing of grain, making penalties applicable, and including effective date provisions. (Formerly HSB 745.)

IA HSB588

A bill for an act relating to agriculture, including by providing for the powers and duties of the department of agriculture and land stewardship, including the promotion and regulation of commodities and products; the regulation of the transportation of agricultural commodities; the use of agricultural land; and taxation, including property taxes, excise and sales taxes, and income taxes; making penalties applicable; and including effective date and applicability provisions.(See HF 2340, HF 2748.)

IA SB1224

RIFLE Act Repealing Illegal Freedom and Liberty Excises Act

IA HB2552

RIFLE Act Repealing Illegal Freedom and Liberty Excises Act

IA SF2188

A bill for an act relating to the excise tax on certain ethanol blended gasoline purchased exclusively for use in an implement of husbandry used in agricultural production.(Formerly SSB 3025; See SF 2493.)

IA HF2539

A bill for an act repealing certain programs and other matters relating to higher education. (Formerly HSB 607.) Effective date: 07/01/2026.

Similar Bills

No similar bills found.