Tax credit bill advances

HF 652 (formerly HSB 187), legislation that caps economic development tax credits and eliminated refundability for the Research Tax Credit, passed through the House Appropriations Committee last week and was assigned to the House Ways and Means Committee. The bill has not moved out of the House Ways and Means Committee and there is no similar bill in the Senate. Time is running out for this legislation to advance in 2017. However, this issue is one the business community needs to continue to have conversations with your local legislators about on the weekends and during the summer. ABI opposes the bill.

Big Iowa companies pay no income tax, get refund checks for research. Some in GOP are taking aim. (Des Moines Register)