IA
Iowa House Bill HF2657

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.

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 HSB734

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

IA HSB230

A bill for an act repealing the excise tax on the handling of grain.(See HF 683.)

IA HF683

A bill for an act relating to the excise tax imposed on the handling of grain, including by providing for transfer of collected revenue to the grain depositors and sellers indemnity fund, providing for the future elimination of the excise tax, and including effective date and retroactive applicability provisions.(Formerly HSB 230.)

IA HF2560

A bill for an act relating to the forfeiture of property for criminal offenses and repealing civil forfeiture. (Formerly HSB 634.)

IA HF2540

A bill for an act repealing gender balance requirements for appointive bodies.(Formerly HSB 670.)

IA HF277

A bill for an act providing for programs and regulations administered and enforced by the department of agriculture and land stewardship, providing fees, providing for the allocation of moneys, and making penalties applicable.(Formerly HSB 113; See HF 666.)

IA HF508

A bill for an act providing for the marketing of grain by licensed warehouse operators and grain dealers, including by providing for indemnity fees and the indemnification of grain depositors and sellers for losses following the cessation of a license or bankruptcy.(Formerly HSB 131; See HF 999.)

IA HF999

A bill for an act providing for the marketing of grain by licensed warehouse operators and grain dealers, including by providing for indemnity fees and the indemnification of grain depositors and sellers for losses following the cessation of a license or bankruptcy, and including effective date provisions.(Formerly HF 508, HSB 131.)

IA HF666

A bill for an act providing for programs and regulations administered and enforced by the department of agriculture and land stewardship, providing fees, providing for the allocation of moneys, making penalties applicable, and including effective date provisions. (Formerly HF 277, HSB 113.) Effective date: 06/01/2023, 07/01/2023.

IA HF665

A bill for an act relating to the creation of land redevelopment trusts.(Formerly HSB 124.)

Similar Bills

No similar bills found.