H.F. _____ Section 1. Section 422.11P, subsection 8, Code 2026, is 1 amended to read as follows: 2 8. This section is repealed January 1, 2028 2033 . 3 Sec. 2. Section 422.33, subsection 11C, paragraph c, Code 4 2026, is amended to read as follows: 5 c. This subsection is repealed January 1, 2028 2033 . 6 Sec. 3. 2011 Iowa Acts, chapter 113, section 31, as amended 7 by 2016 Iowa Acts, chapter 1106, section 10, and 2022 Iowa 8 Acts, chapter 1067, section 52, is amended to read as follows: 9 SEC. 31. TAX CREDIT AVAILABILITY. For a retail dealer 10 who may claim a biodiesel blended fuel promotion tax credit 11 under section 422.11P or 422.33, subsection 11C , as amended 12 in this Act and amended in subsequent Acts, in calendar year 13 2027 2032 , and whose tax year ends prior to December 31, 2027 14 2032 , the retail dealer may continue to claim the tax credit in 15 the retail dealer’s following tax year. In that case, the tax 16 credit shall be calculated in the same manner as provided in 17 section 422.11P or 422.33, subsection 11C , as amended in this 18 Act and amended in subsequent Acts, for the remaining period 19 beginning on the first day of the retail dealer’s new tax year 20 until December 31, 2027 2032 . For that remaining period, the 21 tax credit shall be calculated in the same manner as a retail 22 dealer whose tax year began on the previous January 1 and who 23 is calculating the tax credit on December 31, 2027 2032 . 24 EXPLANATION 25 The inclusion of this explanation does not constitute agreement with 26 the explanation’s substance by the members of the general assembly. 27 This bill extends the repeal of the biodiesel blended fuel 28 tax credit for retail dealers from January 1, 2028, to January 29 1, 2033, for purposes of the individual and corporate income 30 taxes. 31 The bill amends the Iowa Acts to ensure the availability of 32 the biodiesel blended fuel tax credit for an entire tax year 33 for those retail dealers whose tax year does not align with the 34 repeal date of the tax credit. 35 -1- LSB 6080YC (4) 91 jm/jh 1/ 1