Iowa 2025-2026 Regular Session

Iowa House Bill HF691

Introduced
2/28/25  

Caption

A bill for an act creating a residential rebate program for residential owners and renters and making appropriations.

Impact

The bill establishes the residential rebate fund under the control of the Iowa Department of Revenue, which will be tasked with managing the disbursement of rebates. It is stipulated that appropriations will be made from the taxpayer relief fund to ensure adequate funding for this initiative. By encouraging residents to claim these rebates, the bill aims to stimulate economic relief and support community stability during the specified period. This program aligns with broader state goals of providing tax relief and making housing more affordable for residents.

Summary

House File 691 proposes the establishment of a residential rebate program aimed at providing financial relief to both residential property owners and renters in Iowa. The program envisions an annual rebate payment of $1,000 for eligible homeowners who have claimed homestead credit, and $500 for eligible renters whose residences qualify as their primary home during the fiscal year. This rebate can be claimed once per household per fiscal year for the duration of the eligibility period, which spans from July 1, 2025, to June 30, 2030. The bill intends to alleviate some financial burdens for families feeling the effects of housing costs and property taxes by directly contributing to their expenses.

Contention

One notable point of contention regarding HF691 relates to the impact and effectiveness of the residential rebate program on the overall state budget and taxpayer funds. Critics may argue that while the rebates benefit homeowners and renters, they might strain the taxpayer relief fund, raising concerns about fiscal sustainability in the long run. Additionally, there may be debates surrounding the adequacy of rebate amounts in relation to current housing costs and whether these measures are sufficient to effectively assist low-income households or simply serve as a temporary measure. Consequently, the program's efficiency in achieving intended relief versus the potential costs to the state budget remains a critical discussion point.

Companion Bills

No companion bills found.

Previously Filed As

IA HF2644

A bill for an act creating a program and fund for court reporter equipment, and making appropriations. (Formerly HF 2493.) Effective date: 07/01/2024.

IA HSB1

A bill for an act relating to education programs and funding by establishing an education savings account program, modifying certain school district categorical funding supplements, making appropriations, providing penalties, and including effective date and retroactive applicability provisions.(See HF 68.)

IA SSB1022

A bill for an act relating to education programs and funding by establishing an education savings account program, modifying certain school district categorical funding supplements, making appropriations, providing penalties, and including effective date and retroactive applicability provisions.(See SF 94.)

IA HF2176

A bill for an act creating a grocer reinvestment fund and program under the purview of the economic development authority, modifying the local food and farm program, and making appropriations.(See HF 2599.)

IA HSB720

A bill for an act relating to state taxation by modifying future individual income tax rates, creating processes for reducing the individual income tax rate to zero, reducing future contingent corporate income tax rates, making appropriations, and including effective date, applicability, and retroactive applicability provisions.

IA HF2689

A bill for an act creating a rural attorney recruitment assistance program, and making appropriations.(Formerly HF 2407.)

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 HF339

A bill for an act creating a vacant school building demolition grant program and fund and making appropriations.(Formerly HF 153; See HF 706, HF 2541.)

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 HF2708

A bill for an act relating to the powers, duties, and responsibilities of state government entities associated with the budget, financial control, and information technology, making penalties applicable, and making appropriations. (Formerly HF 2622, HSB 695.) Effective date: 07/01/2024.

Similar Bills

CA AB2898

Unbundled parking: exemptions: Housing Choice Vouchers.

CA SB1026

Residential energy efficiency disclosure statement.

CA AB1317

Unbundled parking.

UT SB0058

Property Tax Administration Amendments

AZ HB2152

Residential contractors' recovery fund; eligibility

CA SB863

Measures proposed by the Legislature.

CA AB854

Residential real property: withdrawal of accommodations.

CA AB423

Residential real property: rent control: withdrawal of accommodations.