House File 872 - Reprinted HOUSE FILE 872 BY COMMITTEE ON ECONOMIC GROWTH AND TECHNOLOGY (SUCCESSOR TO HF 112) (As Amended and Passed by the House March 25, 2025 ) A BILL FOR An Act relating to the maximum annual gross income for an 1 enterprise to qualify as a targeted small business. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 HF 872 (4) 91 nls/ko/md

H.F. 872 Section 1. Section 15.102, subsection 12, paragraph a, Code 1 2025, is amended to read as follows: 2 a. “Targeted small business” means a small business any 3 enterprise which is fifty-one percent or more owned, operated, 4 and actively managed by one or more women, minority persons, 5 service-disabled veterans, or persons with a disability 6 provided the business enterprise meets all of the following 7 requirements: 8 (1) Is located in this state. 9 (2) Is operated for profit and under single management . 10 (3) Has fewer than twenty employees and an annual gross 11 income of less than four ten million dollars computed as an 12 average of the three preceding fiscal years. 13 -1- HF 872 (4) 91 nls/ko/md 1/ 1