Iowa 2023-2024 Regular Session

Iowa Senate Bill SF118

Introduced
1/24/23  
Introduced
1/24/23  

Caption

A bill for an act relating to floriculture production and the manufacturing 4.0 technology investment program.

Summary

Senate File 118, introduced by Senator Klimesh, focuses on enhancing the manufacturing 4.0 technology investment program in Iowa, particularly for manufacturers involved in floriculture production. The bill seeks to amend existing legislation to include manufacturers with a North American Industry Classification System (NAICS) number of 111422, which pertains specifically to floriculture production. This inclusion aims to expand the eligibility of financial assistance for technology investments that improve productivity, efficiency, and competitiveness in the manufacturing sector. The legislation's core component is the financial assistance provided for the adoption and integration of advanced technologies within manufacturing operations. Such investments are intended to reduce the risks associated with significant technological upgrades, thereby encouraging manufacturers to innovate and modernize their practices. The expected outcome is both an enhancement in the overall efficiency of floriculture manufacturers and a positive ripple effect on the state's economy. The impact on state laws includes modifications to eligibility criteria for grants and financial support under the existing manufacturing 4.0 program, which previously limited assistance to those within specific manufacturing sectors. By expanding opportunities to floriculture producers, the bill not only promotes growth in this niche industry but also aligns state resources to support a wider array of manufacturing activities. This could lead to increased competitiveness for Iowa’s flowers and plants both regionally and nationally. Notably, discussions around SF118 may surface points of contention primarily regarding the allocation of state funds to floriculture versus other manufacturing sectors. Some legislators might argue that this focused support could divert resources away from broader manufacturing needs or other sectors that may require more immediate assistance. However, supporters contend that investing in the floriculture industry will yield long-term benefits for the state through job creation and technological advancement.

Companion Bills

No companion bills found.

Previously Filed As

IA HB435

Create the manufacturing technologies assistance grant program

IA HB159

Create the manufacturing technologies assistance grant program

IA A5687

Establishes Next New Jersey Manufacturing Program to incentivize in-State manufacturing investments and job creation.

IA S4407

Establishes Next New Jersey Manufacturing Program to incentivize in-State manufacturing investments and job creation.

IA HB1384

Economic Development - Industry 4.0 Technology Grant Program (Maryland Manufacturing Innovation Act of 2022)

IA SSB1084

A bill for an act relating to investments of funds by life insurers, and including applicability provisions.(See SF 420.)

IA AB726

Capital investment incentive program: qualified manufacturing facility: ad valorem property tax revenue allocation payments.

IA SSB1205

A bill for an act relating to matters under the purview of the Iowa economic development authority, including tax credit limits, targeted jobs tax credits, and the major economic growth attraction program; creation of the business incentives for growth program, the seed investor tax credit program, the Iowa film production incentive program, the research and development tax credit program, and the sustainable aviation fuel production tax credit program; elimination of the high quality jobs program, the investments in qualifying businesses tax credit, employer child care tax credits, assistive device tax credits, endow Iowa tax credits, and research activities tax credits; and including effective date provisions and criminal penalties.(See SF 657.)

IA HSB305

A bill for an act relating to matters under the purview of the Iowa economic development authority, including tax credit limits, targeted jobs tax credits, and the major economic growth attraction program; creation of the business incentives for growth program, the seed investor tax credit program, the Iowa film production incentive program, the research and development tax credit program, and the sustainable aviation fuel production tax credit program; elimination of the high quality jobs program, the investments in qualifying businesses tax credit, employer child care tax credits, assistive device tax credits, endow Iowa tax credits, and research activities tax credits; and including effective date provisions and criminal penalties.(See HF 1054.)

IA SF420

A bill for an act relating to investments of funds by life insurers, and including applicability provisions.(Formerly SSB 1084.)

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