IA
Iowa House Bill HF198

Iowa 2023-2024 Regular Session

Iowa House Bill HF198

Introduced
2/6/23  
Introduced
2/6/23  

Caption

A bill for an act relating to sales tax rebates for a raceway facility.(See HF 660.)

Impact

This bill is expected to have significant implications on state economic policy as it aims to support local raceway facilities, which are integral parts of community entertainment and economic growth. By extending the rebate program, the state hopes to stimulate further investment in local infrastructure and improve the financial viability of these facilities. The bill's proponents argue that this will lead to increased job creation and spur local tourism through more events and activities at the raceway.

Summary

House File 198 is an act that pertains specifically to sales tax rebates for raceway facilities in Iowa. The bill proposes to extend the period for which sales tax receipts collected at these facilities are rebated. Originally set to expire on June 30, 2025, the new deadline will be June 30, 2030, provided certain conditions are not met. This amendment is intended to encourage continued economic activity around raceway facilities by offering extended financial incentives to their owners and operators.

Contention

However, there are potential points of contention surrounding this bill. Critics may argue that prolonging tax rebates could divert necessary funds from other vital state services or community initiatives. Furthermore, there is a question of whether such tax incentives are the best use of public funds, particularly in the context of other pressing fiscal needs within Iowa. Debates may also arise regarding the accountability of how the rebates are used by the raceway facilities and the overall transparency of the rebate system.

Latest IA HF198 Activity

View All Events: IA 2023-2024 Regular Session HF198

Companion Bills

IA HF660

Similar To A bill for an act relating to sales tax rebates for a raceway facility and making tax provision corrections. (Formerly HF 198.) Effective date: 07/01/2023.

Previously Filed As

IA HF660

A bill for an act relating to sales tax rebates for a raceway facility and making tax provision corrections. (Formerly HF 198.) Effective date: 07/01/2023.

IA SF35

A bill for an act creating a state sales tax rebate to the owner or operator of a newly constructed baseball and softball park project.

IA HF976

A bill for an act relating to the administration of the tax by the department of revenue by modifying provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, changing tax expenditure reviews, and including effective date and retroactive applicability provisions. (Formerly HSB 89.) Effective date: 06/06/2025, 07/01/2025, 01/01/2026. Applicability date: 01/01/2024, 01/01/2025, 01/01/2026.

IA HF376

A bill for an act relating to water quality by increasing the sales and use tax rates and conditioning the use of moneys from the natural resources and outdoor recreation trust fund, and including effective date provisions.

IA HSB89

A bill for an act relating to the administration of the tax by the department of revenue by modifying provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, changing tax expenditure reviews, and including effective date and retroactive applicability provisions.(See HF 976.)

IA HSB237

A bill for an act relating to fuel taxation by extending tax credits for E-85 and E-15 gasoline, and biodiesel, and extending sales tax refunds for biodiesel production.(See HF 1053.)

IA SF614

A bill for an act relating to the administration of the tax by the department of revenue by modifying provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, changing tax expenditure reviews, and including effective date and retroactive applicability provisions.(Formerly SSB 1156.)

IA SSB1156

A bill for an act relating to the administration of the tax by the department of revenue by modifying provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, changing tax expenditure reviews, and including effective date and retroactive applicability provisions.(See SF 614.)

IA HSB224

A bill for an act relating to property taxation for commercial child care centers and facilities and including effective date, applicability, and retroactive applicability provisions.(See HF 668.)

IA HF38

A bill for an act authorizing cities to establish self-supported entertainment areas.(See HF 760, HF 1051.)

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