Iowa HF872 raises the maximum annual gross income for a targeted small business to qualify from $4 million to $10 million.

Iowa HF872 amends the definition of a targeted small business by increasing the maximum annual gross income from $4 million to $10 million. This change applies to businesses that are at least 51% owned, operated, and managed by women, minority persons, service-disabled veterans, or persons with a disability. The bill also maintains the requirement that the business must be located in Iowa, operated for profit, and under a single management.

Iowa HF872 raises the maximum annual gross income for a targeted small business to qualify from $4 million to $10 million.

Iowa HF872 amends the definition of a targeted small business by increasing the maximum annual gross income from $4 million to $10 million. This change applies to businesses that are at least 51% owned, operated, and managed by women, minority persons, service-disabled veterans, or persons with a disability. The bill also maintains the requirement that the business must be located in Iowa, operated for profit, and under a single management.