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Iowa House Bill HF679
Iowa 2023-2024 Regular Session
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Iowa 2023-2024 Regular Session

Iowa House Bill HF679

Introduced
3/21/23  

Caption

A bill for an act relating to the economic development authority, including certain tax credit programs, the Iowa wine, beer, and spirits promotion board, and the beer and liquor control fund, and including applicability provisions.(Formerly HF 641, HSB 23.)

Impact

By extending the repeal date for certain tax subsidies and enhancing the innovation fund tax credits to incorporate educational technology, HF679 significantly impacts state fiscal policies. It aims to create a more attractive environment for new and existing businesses within the renewable chemicals sector. This could potentially lead to increased investment and job creation in Iowa. Furthermore, the promotion of local spirits and distilleries is anticipated to boost the local economy while reinforcing the state's cultural identity around its beverages, which can draw tourism and business.

Summary

House File 679 pertains to the Economic Development Authority in Iowa and addresses various tax credit programs as well as the promotion of Iowa-made wine, beer, and spirits. Among its primary objectives is the extension of tax credits for renewable chemical production, which are aimed at supporting businesses engaged in renewable resources. The bill empowers the authority to provide competitive tax credits, encouraging innovation and economic growth within the state. Moreover, HF679 eliminates the waitlist for benefit applications, thus streamlining the process for eligible businesses to receive financial support.

Contention

While HF679 has broad support for its role in fostering economic development, there are points of concern surrounding the bill. Some stakeholders might argue that the focus on tax incentives may divert resources from other critical public services or infrastructure needs. Additionally, the lack of a waitlist for tax credits could lead to an overwhelming number of applications, potentially stressing the system or leading to inadequate oversight of fund distribution. The discussions around the balance of state funding in these areas and the competitive nature of resource allocation have stirred debates among lawmakers and interest groups.

Latest IA HF679 Activity

View All Events: IA 2023-2024 Regular Session HF679

Companion Bills

IA HSB23

Related A bill for an act relating to the economic development authority, including certain tax credit programs, the Iowa wine, beer, and spirits promotion board, and the beer and liquor control fund, and including applicability provisions.(See HF 641, HF 679.)

IA SSB1087

Related A bill for an act relating to the economic development authority, including certain tax credit programs, the Iowa wine, beer, and spirits promotion board, and the beer and liquor control fund, and including applicability provisions.(See SF 408, SF 575.)

IA SF408

Similar To A bill for an act relating to the economic development authority, including certain tax credit programs, the Iowa wine, beer, and spirits promotion board, and the beer and liquor control fund, and including applicability provisions.(Formerly SSB 1087; See SF 575.)

IA HF641

Similar To A bill for an act relating to the economic development authority, including certain tax credit programs, the Iowa wine, beer, and spirits promotion board, and the beer and liquor control fund, and including applicability provisions.(Formerly HSB 23; See HF 679.)

IA SF575

Similar To A bill for an act relating to the economic development authority, including renewable chemical production, workforce housing, and innovation fund tax credits, the Iowa wine, beer, and spirits promotion board, and the beer and liquor control fund, and including applicability provisions. (Formerly SF 408, SSB 1087.) Effective date: 07/01/2023. Applicability date: 06/30/2023, 07/01/2023.

Previously Filed As

IA SF465

A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, and arts and culture, and including applicability and retroactive applicability provisions.(Formerly SSB 1106; See SF 622, SF 642.)

IA SF622

A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, arts and culture, and the Iowa reinvestment Act and including applicability and retroactive applicability provisions.(Formerly SF 465, SSB 1106; See SF 642.)

IA SF652

A bill for an act relating to economic development and housing by modifying provisions concerning economic development programs and modifying provisions concerning Iowa's urban renewal law, and including applicability provisions.(Formerly SSB 1214.)

IA HF975

A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, arts and culture, and the Iowa reinvestment Act and including applicability and retroactive applicability provisions. (Formerly HSB 221.) Effective date: 07/01/2025. Applicability date: 07/01/2020, 07/01/2025.

IA SF642

A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, arts and culture, and the Iowa reinvestment Act and including applicability and retroactive applicability provisions.(Formerly SF 622, SF 465, SSB 1106.)

IA HSB221

A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, and arts and culture, and including applicability and retroactive applicability provisions.(See HF 975.)

IA SF2485

A bill for an act relating to and making appropriations for the economic development of the state, including to the economic development authority, Iowa finance authority, department of workforce development, and state board of regents and certain regents institutions.(Formerly SSB 3188.)

IA HF2772

A bill for an act relating to and making appropriations for the economic development of the state, including to the economic development authority, Iowa finance authority, department of workforce development, and state board of regents and certain regents institutions, and codifying the housing renewal program. (Formerly HSB 773.) Effective date: 07/01/2026

IA SF387

A bill for an act relating to alcoholic beverages, including license authorizations and fee determinations, and including effective date and applicability provisions.(Formerly SSB 1089; See SF 610.)

IA HF1040

A bill for an act relating to and making appropriations for the economic development of the state, including to the economic development authority, Iowa finance authority, department of workforce development, and state board of regents and certain regents institutions, and eliminating the repeal of the housing renewal pilot program.(Formerly HSB 336.)

Similar Bills

No similar bills found.