Iowa 2023-2024 Regular Session

Iowa Senate Bill SF35

Introduced
1/10/23  
Introduced
1/10/23  

Caption

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.

Impact

The legislation is expected to influence state laws by establishing specific parameters for these sales tax rebates, which are contingent upon meeting certain construction and operational criteria. The rebates will help bolster local economies by creating jobs and increasing foot traffic in the surrounding areas, particularly when the parks include retail establishments and entertainment options. The Enhanced Iowa Board will approve the applications, ensuring that only eligible projects benefit from the program.

Summary

Senate File 35 (SF35) introduces a state sales tax rebate system aimed at the owners or operators of newly constructed baseball and softball parks in Iowa. To qualify, these parks must have a completion date after July 1, 2023, and a construction cost of at least $75 million. The bill supports the development of these sports facilities by providing a rebate for the sales tax collected from transactions at the parks. This initiative is part of Iowa's strategy to enhance community attraction and tourism by encouraging large-scale recreational projects.

Contention

Notably, there are concerns regarding the cap on the total sales tax rebates, set at $10 million across all projects, which may limit the scope and scale of benefits. This cap could generate contention among different communities vying for funding and attention from the state for their projects. Debate may arise around whether the focus on such sports facilities detracts from other pressing community needs or fosters inequities in funding based on geographic location.

Companion Bills

No companion bills found.

Previously Filed As

IA HF198

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

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 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 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 SF2394

A bill for an act relating to economic development by establishing the Iowa major events and tourism program and fund, modifying the sports tourism and marketing infrastructure program, and making appropriations.(See SF 2419.)

IA SF550

A bill for an act relating to state and local revenue and finances by modifying sales and use taxes, the charitable conservation contribution tax credit available against individual and corporate income taxes, the water service tax, property taxes, transit funding, and local option taxes, crediting moneys to the natural resources and outdoor recreation trust fund, modifying allocations of road use tax fund moneys, making appropriations, and including effective date, retroactive applicability, and applicability provisions.(Formerly SSB 1125.)

IA SF2419

A bill for an act relating to economic development by establishing the Iowa major events and tourism program and fund, modifying the sports tourism and marketing infrastructure program, and making appropriations.(Formerly SF 2394.)

IA SSB1125

A bill for an act relating to state and local revenue and finances by modifying sales and use taxes, the charitable conservation contribution tax credit available against individual and corporate income taxes, the water service tax, property taxes, transit funding, and local option taxes, crediting moneys to the natural resources and outdoor recreation trust fund, making appropriations, and including effective date, retroactive applicability, and applicability provisions.(See SF 550.)

IA SF356

A bill for an act relating to local government property taxes, financial authority, operations, and budgets, and including effective date and applicability provisions.(Formerly SSB 1124.)

IA SSB1239

A bill for an act relating to the elimination of the individual income tax and alternate income tax by creating the taxpayer relief trust fund and income tax elimination board and fund, and making appropriations.

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