Iowa 2023-2024 Regular Session

Iowa House Bill HF660

Introduced
3/7/23  
Engrossed
3/14/23  
Introduced
3/7/23  
Refer
3/15/23  
Engrossed
3/14/23  
Enrolled
5/9/23  
Refer
3/15/23  
Passed
6/1/23  
Enrolled
5/9/23  

Caption

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.

Impact

The implications of HF660 on Iowa's state laws are significant, particularly in terms of how sales tax proceeds are directed and utilized. By creating dedicated tax rebates for raceway facilities, the bill establishes a precedent for more tailored economic incentives that acknowledge the unique contributions of niche sectors to the state's economy. It may also set a framework for similar measures aimed at other industries looking for financial relief through tax rebates, which could alter the landscape of how tax programs are structured in Iowa.

Summary

House File 660 is legislation concerning sales tax rebates specifically tailored for raceway facilities in Iowa. This bill aims to amend existing tax provisions to ensure clarity and efficiency in handling sales tax collected from transactions related to raceway facilities. An essential feature of HF660 is its establishment of a rebate fund where a portion of sales tax receipts collected at these facilities will be allocated. The intent of the measure is to foster a favorable economic environment for raceway facilities, recognizing their role in driving local and state economic activity.

Sentiment

The sentiment surrounding HF660 appears largely positive among proponents who argue that supporting raceway facilities through tax rebates is a sound economic strategy. This group includes legislators who perceive the potential for increased revenue and job creation linked to vibrant raceway operations. However, there is a contingent of concern regarding the allocation of public funds through tax rebates, with critics cautioning that such measures could divert resources from essential public services and create inequities in local revenue distribution.

Contention

Notably, HF660 faced minimal opposition during its legislative journey, reflecting a broad consensus among lawmakers that supporting raceway facilities aligns with their commitments to stimulate economic growth. The voting history indicates strong support, with only a couple of dissenting votes registered, suggesting that the potential benefits of the bill outweigh concerns for most legislators. Nevertheless, discussions around the bill highlighted ongoing debates in Iowa regarding the appropriateness of tax rebates as a tool for economic development, underlining the complexities within this legislative domain.

Companion Bills

IA HF198

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

Previously Filed As

IA HF198

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

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 SF660

A bill for an act relating to sports wagering and tourism, making appropriations, and including effective date provisions. (Formerly SSB 1240.) Effective date: 06/11/2025, 07/01/2025.

IA SF2442

A bill for an act relating to state and local finances by modifying individual and alternate income tax rates, withholding credits, franchise tax deductions, methodologies for determining property taxes, and property tax assessment limitations, changing methods of determining compensation of county officials, making contingent transfers from the taxpayer relief fund, and making corrections, and including effective date and applicability provisions. (Formerly SSB 3207.) Effective date: Enactment, 05/01/2024, 07/01/2024, 01/01/2025. Applicability date: 01/01/2024, 01/01/2025, 07/01/2025.

IA SF565

A bill for an act relating to state and local finance and the administration of the tax and related laws by the department of revenue, and including effective date, applicability, and retroactive applicability provisions. (Formerly SSB 1148.) Effective date: 06/01/2023, 07/01/2023, 01/01/2024, 01/01/2026. Applicability date: 01/01/2023, 07/01/2024.

IA SF657

A bill for an act related to state taxation and finance and other related matters, by creating, modifying, and eliminating tax credits and tax incentive programs, providing for penalties, and including effective date and retroactive applicability provisions. (Formerly SSB 1205.) Effective date: 06/06/2025, 07/01/2025, 12/31/2025, 01/01/2026. Applicability date: 01/01/2017, 01/01/2025, 01/01/2026.

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 HF567

A bill for an act relating to nonsubstantive Code corrections, and including effective date and retroactive applicability provisions. (Formerly HSB 159.) Contingent effective date. Applicability date: 01/01/2022, 01/01/2023.

IA HF653

A bill for an act relating to electronic filing of sales and use tax returns, and including effective date provisions.(Formerly HSB 88.)

IA HF2705

A bill for an act relating to state and local finances by modifying individual and alternate income tax rates, withholding credits, franchise tax deductions, methodologies for determining property taxes, and property tax assessment limitations, changing methods of determining compensation of county officials, making contingent transfers from the taxpayer relief fund, and making corrections, and including effective date and applicability provisions.(Formerly HSB 752.)

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IA HF668

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IA HSB224

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