House
File
710
-
Enrolled
House
File
710
AN
ACT
RELATING
TO
THE
ENDOW
IOWA
TAX
CREDIT,
MAKING
APPROPRIATIONS,
AND
INCLUDING
RETROACTIVE
APPLICABILITY
AND
EFFECTIVE
DATE
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
DIVISION
I
SPORTS
WAGERING
RECEIPTS
FUND
APPROPRIATION
Section
1.
SPORTS
WAGERING
RECEIPTS
FUND.
There
is
appropriated
from
the
sports
wagering
receipts
fund
created
in
section
8.57,
subsection
6,
to
the
general
fund
of
the
state
for
the
fiscal
year
beginning
July
1,
2022,
and
ending
June
30,
2023,
the
following
amount
to
be
used
for
purposes
of
section
15E.305:
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
$
7,000,000
Sec.
2.
EFFECTIVE
DATE.
This
division
of
this
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
enactment.
DIVISION
II
ENDOW
IOWA
TAX
CREDIT
——
TAX
YEAR
2023
Sec.
3.
ENDOW
IOWA
TAX
CREDIT
——
TAX
YEAR
2023.
Notwithstanding
any
provision
of
section
15E.305
to
the
contrary,
the
aggregate
amount
of
tax
credits
authorized
pursuant
to
section
15E.305
shall
not
exceed
a
total
of
thirteen
million
dollars
for
the
tax
year
beginning
on
or
after
January
1,
2023,
but
before
January
1,
2024.
Sec.
4.
EFFECTIVE
DATE.
This
division
of
this
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
enactment.
House
File
710,
p.
2
Sec.
5.
RETROACTIVE
APPLICABILITY.
This
division
of
this
Act
applies
retroactively
to
January
1,
2023,
and
applies
to
the
tax
year
beginning
on
or
after
January
1,
2023,
but
before
January
1,
2024.
DIVISION
III
ENDOW
IOWA
TAX
CREDIT
——
GIFTS
MADE
PRIOR
TO
2023
Sec.
6.
2022
Iowa
Acts,
chapter
1002,
is
amended
by
adding
the
following
new
section:
NEW
SECTION
.
SEC.
54A.
APPLICABILITY.
The
following
applies
to
endowment
gifts
made
to
an
endow
Iowa
qualified
community
foundation
on
or
after
January
1,
2023:
The
section
of
this
division
of
this
Act
amending
section
15E.305,
subsection
2,
paragraph
“a”.
Sec.
7.
2022
Iowa
Acts,
chapter
1002,
section
55,
is
amended
to
read
as
follows:
SEC.
55.
APPLICABILITY.
This
Except
as
otherwise
provided
by
this
division
of
this
Act,
this
division
of
this
Act
applies
to
tax
years
beginning
on
or
after
January
1,
2023.
Sec.
8.
EFFECTIVE
DATE.
This
division
of
this
Act,
being
deemed
of
immediate
importance,
takes
effect
upon
enactment.
Sec.
9.
RETROACTIVE
APPLICABILITY.
This
division
of
this
Act
applies
retroactively
to
January
1,
2023.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
AMY
SINCLAIR
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
710,
Ninetieth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2023
______________________________
KIM
REYNOLDS
Governor