Iowa HF2198 mandates the disclosure of tax incentives for web search portal and data center businesses.

Iowa HF2198 requires web search portal and data center businesses to register with the Department of Revenue and file annual reports starting January 31, 2026. These reports must detail the aggregate sales price of backup power generation fuel and electricity purchased in the previous year. Beginning January 31, 2027, the reports must also include the aggregate sales price of exempt property. The Department of Revenue must estimate the amount of tax saved by the businesses based on these reported sales prices.

Iowa HF2198 mandates the disclosure of tax incentives for web search portal and data center businesses.

Iowa HF2198 requires web search portal and data center businesses to register with the Department of Revenue and file annual reports starting January 31, 2026. These reports must detail the aggregate sales price of backup power generation fuel and electricity purchased in the previous year. Beginning January 31, 2027, the reports must also include the aggregate sales price of exempt property. The Department of Revenue must estimate the amount of tax saved by the businesses based on these reported sales prices.