All Roll Calls
Yes: 128 • No: 13
IowaHF 97591st General Assembly (2025–2026)HouseWALLET
A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, arts and culture, and the Iowa reinvestment Act and including applicability and retroactive applicability provisions. (Formerly HSB 221.) Effective date: 07/01/2025. Applicability date: 07/01/2020, 07/01/2025.
Sponsored By: COMMITTEE ON WAYS AND MEANS
Signed by Governor
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Bill Overview
Analyzed Economic Effects
10 provisions identified: 2 benefits, 2 costs, 6 mixed.
Stricter rules for redevelopment tax credits
Beginning July 1, 2025, Iowa competitively scores redevelopment credit applications, and the board sets award amounts. Registered projects must finish within 30 months or lose credit eligibility, unless the authority grants more time with board approval. Extensions include up to 12 months initially, with further extensions for circumstances beyond the investor's control. Investors must hire an Iowa-authorized certified public accountant to examine completed projects and submit the examination and final qualifying investment for state review before receiving certificates. The law also repeals four prior brownfield sections and moves remaining uncommitted brownfield money to authority-designated funds.
Tighter historic tax credits for homes
Beginning July 1, 2025, single-family homes generally do not qualify for Iowa's historic preservation tax credit. An exception requires rehabilitation that creates at least two new single-family dwelling units in the same neighborhood. Those units must have been unavailable for residential occupancy during the six consecutive months immediately before work began. The project must make them available for occupancy, and the authority must confirm they share a neighborhood.
Historic project deadlines allow limited extensions
Beginning July 1, 2025, registered historic tax-credit projects must start within one calendar year of registration. Owners can apply for a start extension of up to 12 consecutive months. Projects must finish within three calendar years of registration, with a separate 36-month limit measured from the start of work. The authority can grant a completion extension of up to 12 months. A further extension of up to 12 months requires applying before the existing extension expires and proving circumstances outside the taxpayer's control.
Communities can create larger reinvestment districts
For reinvestment districts approved on or after July 1, 2020, Iowa raises the acreage limit from 75 to 125 acres. Districts can cover more land but cannot exceed the 125-acre ceiling. Their parcels must connect. The change takes effect July 1, 2025, and applies retroactively to July 1, 2020.
Iowa combines arts funding and planning
Beginning July 1, 2025, Iowa's Economic Development Authority runs a new Arts and Culture Enhancement Fund. It supports artists, arts groups, rural and underserved access, Iowa-made film and television, statewide arts goals, and related administration. The fund receives $520,000 annually from gambling receipts, replacing an equal split between operating-support and community cultural grants. Uncommitted balances from Iowa Great Places, the cultural trust fund, and its grant account move into it; unspent money stays available. The Arts Council recommends programs and can seek public input on long-term arts planning; awards can follow state eligibility and priority rules.
Tourism promotion shifts toward historic landmarks
Beginning July 1, 2025, Iowa's economic development and transportation agencies promote knowledge of and access to national historic landmarks. Covered sites must be designated by the U.S. Secretary of the Interior. Landmarks protected under Iowa Code section 22.7(20) are excluded. Certified cultural and entertainment districts are removed from the program's coverage.
Iowa repeals additional economic development laws
Effective July 1, 2025, Iowa repeals 11 additional economic development code sections. These are sections 15.437–15.441, 15.476–15.479, and 15.481–15.482. The supplied text does not describe their subjects or identify resulting changes to funding, eligibility, or household costs.
New reviews for community project funding
Beginning July 1, 2025, committees review Strategic Infrastructure, Community Attraction and Tourism, and Sports Tourism Marketing and Infrastructure applications. They recommend action to the Economic Development Authority or its board; tourism committees include relevant experts appointed by the director. The law also repeals a section covering applicants awarded assistance under both Vision Iowa and Community Attraction and Tourism. That repeal covers new awards and applies retroactively to awards before July 1, 2025. The supplied text does not explain which joint-award benefits or duties end, and the review changes set no new funding amount.
Iowa reorganizes property title guaranty oversight
Beginning July 1, 2025, a division within the Iowa Finance Authority runs the title guaranty program. Its board approves guaranty forms and coverage, while the division decides what title evidence is acceptable. The division sets a maximum mortgage principal amount through authority rules, but the law states no dollar limit. The program must support itself and maintain adequate reserves. This provision states no direct change to household fees, coverage, or eligibility.
Higher historic credit cap borrows ahead
Iowa's usual annual historic preservation tax-credit award cap is $45 million. Starting with the fiscal year beginning July 1, 2025, the authority can exceed it by up to 20%, reaching $54 million. This requires an application that, upon registration, qualifies the taxpayer for at least $10 million in credits. Extra awards count against the immediately following fiscal year's cap, reducing room for awards then.
Sponsors & Cosponsors
Sponsor
COMMITTEE ON WAYS AND MEANS
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 5/12/2025
Passed Senate
Yes: 45 • No: 5
House vote • 4/21/2025
Passed House
Yes: 83 • No: 8
Actions Timeline
Signed by Governor.
6/6/2025HouseFiscal note.
6/6/2025legislatureReported correctly enrolled, signed by Speaker and President, and sent to Governor.
5/22/2025HouseMessage from Senate.
5/12/2025HouseImmediate message.
5/12/2025SenatePassed Senate, yeas 45, nays 5.
5/12/2025SenateAmendment S-3161 filed, lost.
5/12/2025SenateSubstituted for SF 642.
5/12/2025SenateAttached to SF 642.
4/23/2025SenateRead first time, passed on file.
4/22/2025SenateMessage from House.
4/22/2025SenateImmediate message.
4/21/2025HousePassed House, yeas 83, nays 8.
4/21/2025HouseFiscal note.
4/3/2025legislatureIntroduced, placed on Ways and Means calendar.
3/24/2025House
Bill Text
As Introduced
Enrolled
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