Iowa HF976 modifies personal income, property, sales and use, motor fuel, and inheritance taxes, and changes tax expenditure reviews.

Iowa HF976 modifies provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, and changes tax expenditure reviews. It updates the disclosure of tax information, requires data centers and web search portals to register and file annual reports, and limits sales tax exemptions for newly constructed data centers and web search portals. The bill also changes the tax expenditure review process, removes certain tax expenditures from review, and modifies the estimated tax threshold. Effective dates range from January 1, 2024, to July 1, 2030.

Iowa HF976 modifies personal income, property, sales and use, motor fuel, and inheritance taxes, and changes tax expenditure reviews.

Iowa HF976 modifies provisions related to personal income, property, sales and use, motor fuel, and inheritance taxes, and changes tax expenditure reviews. It updates the disclosure of tax information, requires data centers and web search portals to register and file annual reports, and limits sales tax exemptions for newly constructed data centers and web search portals. The bill also changes the tax expenditure review process, removes certain tax expenditures from review, and modifies the estimated tax threshold. Effective dates range from January 1, 2024, to July 1, 2030.