House File 2690 H-8212 Amend the amendment, H-8205, to House File 2690, as follows: 1 1. Page 1, after line 3 by inserting: 2 < Section 1. Section 422.20, subsection 3, paragraph a, Code 3 2026, is amended to read as follows: 4 a. Unless otherwise expressly permitted by section 8G.4 , 5 section 11.41 , section 96.11, subsection 6 , section 421.17, 6 subsections 22, 23, and 26 , section 421.17, subsection 27 , 7 paragraph “k” , section 421.17, subsection 31 , section 252B.9 , 8 section 321.40, subsection 6 , sections 321.120 , 421.19 , 421.28 , 9 421.59 , 421.65 , 422.72 , section 423.3, subsections 92, 93, 10 and 95, section 423.4, subsections 7 and 8, section 452A.63 , 11 and 556.19, subsection 2 , this section , or another provision 12 of law, a tax return, return information, or investigative 13 or audit information shall not be divulged to any person 14 or entity, other than the taxpayer, the department, or 15 internal revenue service for use in a matter unrelated to tax 16 administration. 17 Sec. ___. Section 423.3, subsection 92, paragraph b, 18 subparagraph (5), Code 2026, is amended to read as follows: 19 (5) (a) The web search portal business shall register 20 with the department as a web search portal. To maintain its 21 registration, the web search portal business shall file an 22 annual report with the department, by January 31, 2026, and by 23 each January 31 thereafter. The annual report shall describe 24 the aggregate sales price amount of backup power generation 25 fuel and electricity purchased and the amount used in the 26 previous calendar year for the purposes described in paragraph 27 “a” , subparagraphs (2) and (3), and any other information the 28 department requires. 29 (b) Beginning with an annual report due on or after January 30 31, 2027, the annual report shall also contain the aggregate 31 sales price amount of exempt property purchased under paragraph 32 “a” , subparagraph (1). 33 (c) (i) For annual reports due on or after January 31, 34 2027, the department of revenue shall estimate the amount of 35 -1- H 8205.3398 (2) 91 sb/js 1/ 5 #1.

tax saved under this subchapter by the business solely based 1 upon the aggregate sales price amounts disclosed in the annual 2 report. 3 (ii) The name of the web search portal business filing 4 the annual report and the amount of estimated tax saved that 5 is described in this subparagraph division shall be a public 6 record on or after January 31, 2027. 7 Sec. ___. Section 423.3, subsection 93, paragraph b, 8 subparagraph (5), Code 2026, is amended to read as follows: 9 (5) (a) The web search portal business shall register with 10 the department as a web search portal business. To maintain 11 its registration, the web search portal business shall file an 12 annual report with the department, by January 31, 2026, and by 13 each January 31 thereafter. The annual report shall describe 14 the aggregate sales price amount of backup power generation 15 fuel and electricity purchased and the amount used in the 16 previous calendar year for the purposes described in paragraph 17 “a” , subparagraphs (2) and (3), and any other information the 18 department requires. 19 (b) Beginning with an annual report due on or after January 20 31, 2027, the annual report shall contain the aggregate sales 21 price amount of exempt property purchased under paragraph “a” , 22 subparagraph (1). 23 (c) (i) For annual reports due on or after January 31, 24 2027, the department of revenue shall estimate the amount of 25 tax saved under this subchapter by the business solely based 26 upon the aggregate sales price amounts disclosed in the annual 27 report. 28 (ii) The name of the web search portal business filing 29 the annual report and the amount of estimated tax saved that 30 is described in this subparagraph division shall be a public 31 record on or after January 31, 2027. > 32 2. Page 1, line 6, after < (5) > by inserting < (a) > 33 3. Page 1, lines 9 and 10, by striking < , by January 31, 34 2026, and by each January March 31 thereafter each year > and 35 -2- H 8205.3398 (2) 91 sb/js 2/ 5 #2.

inserting < , by January 31, 2026, and by each January 31 1 thereafter > 2 4. Page 1, line 11, after < describe the > by inserting 3 < aggregate sale price amount of > 4 5. Page 1, after line 16 by inserting: 5 < (b) Beginning with an annual report due on or after January 6 31, 2027, the annual report shall also contain the aggregate 7 sales price amount of exempt property purchased under paragraph 8 “a” , subparagraph (1). 9 (c) (i) For annual reports due on or after January 31, 10 2027, the department of revenue shall estimate the amount of 11 tax saved under this subchapter by the business solely based 12 upon the aggregate sales price amounts disclosed in the annual 13 report. 14 (ii) The name of the data center business filing the annual 15 report and the amount of estimated tax saved that is described 16 in this subparagraph division shall be a public record on or 17 after January 31, 2027. > 18 6. Page 1, after line 24 by inserting: 19 < Sec. ___. Section 423.4, subsection 7, Code 2026, is 20 amended by adding the following new paragraph: 21 NEW PARAGRAPH . 0g. The name of the owner of a data center 22 business and the annual amount of sales and use tax refunds 23 that are provided to the data center business under this 24 subsection shall be considered a public record on or after 25 January 1, 2027. 26 Sec. ___. Section 423.4, subsection 8, Code 2026, is amended 27 by adding the following new paragraph: 28 NEW PARAGRAPH . 0h. The name of the owner of a data center 29 business and the annual amount of sales and use tax refunds 30 that are provided to the data center business under this 31 subsection shall be considered a public record on or after 32 January 1, 2027. 33 Sec. ___. 2025 Iowa Acts, chapter 155, section 4, is amended 34 to read as follows: 35 -3- H 8205.3398 (2) 91 sb/js 3/ 5 #4. #5. #6.

SEC. 4. FINANCIAL ASSISTANCE REPORTING —— ECONOMIC 1 DEVELOPMENT AUTHORITY. 2 1. The economic development authority shall submit an 3 annual report to the general assembly no later than November 1, 4 2025, that details the amount of every direct loan, forgivable 5 loan, tax credit, tax exemption, tax refund, grant, or any 6 other financial assistance awarded to a person during the prior 7 fiscal year by the authority under an economic development 8 program administered by the authority. The report shall 9 identify the county where the project associated with each such 10 award is located. 11 2. Notwithstanding any other Code provision to the 12 contrary, the tax incentives described in subsection 1 that 13 are provided to a web search portal business or a data center 14 business shall be posted and maintained on the economic 15 development authority’s internet site in a searchable database 16 for public viewing within thirty days of the effective date of 17 this subsection of this section of this Act. The searchable 18 database shall include the name of the web search portal 19 business or data center business and the aggregate amount 20 of tax incentives received by such a business disclosed in 21 the report. For purposes of this subsection, “web search 22 portal business” means the same as defined in section 423.3, 23 subsection 92 or 93, and “data center business” means the same 24 as defined in section 423.3, subsection 95. 25 Sec. ___. EFFECTIVE DATE. The following, being deemed of 26 immediate importance, takes effect upon enactment: 27 The section of this Act amending 2025 Iowa Acts, chapter 155, 28 section 4. > 29 7. Page 1, by striking lines 26 and 27 and inserting << An 30 Act relating to web search portal businesses and data center 31 businesses, including the disclosure of tax incentives provided 32 to web search portal businesses and data center businesses and 33 annual reporting requirements for data center businesses, and 34 including effective date provisions. >> 35 -4- H 8205.3398 (2) 91 sb/js 4/ 5