House File 557 - Introduced



                                       HOUSE FILE       
                                       BY  REICHERT


    Passed House, Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to a tax credit tracking study.
  2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  3 TLSB 2770HH 81
  4 tm/gg/14

PAG LIN



  1  1    Section 1.  TAX CREDIT STUDY.  The department of economic
  1  2 development, in cooperation with the department of revenue,
  1  3 shall conduct a study related to the issuance of tax credits
  1  4 through programs administered by the department of economic
  1  5 development.  The study shall examine the issue of tracking
  1  6 the issuance, transfer, and claiming of tax credits issued
  1  7 under department of economic development programs for purposes
  1  8 of determining an accurate fiscal impact of such tax credits.
  1  9 By December 31, 2005, the department of economic development
  1 10 shall submit a written report to the general assembly which
  1 11 includes the findings and recommendations of the study.
  1 12                           EXPLANATION
  1 13    This bill relates to a tax credit tracking study.
  1 14    The bill requires the department of economic development,
  1 15 in cooperation with the department of revenue, to conduct a
  1 16 study related to the issuance of tax credits through programs
  1 17 administered by the department of economic development.  The
  1 18 bill requires the study to examine the issue of tracking the
  1 19 issuance, transfer, and claiming of tax credits for purposes
  1 20 of determining an accurate fiscal impact of such tax credits.
  1 21 The bill requires the department of economic development to
  1 22 submit a written report including findings and recommendations
  1 23 to the general assembly by December 31, 2005.
  1 24 LSB 2770HH 81
  1 25 tm:nh/gg/14