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Today's successful Iowa Business Day on the Hill concluded with the Legislature's passage of a bill that includes two of ABI's top priorities. House File 2433 passed the Iowa House by a vote of 79-18, and the Iowa Senate by a vote of 50-0. This bill does two important things:
- Codify the sales and use tax exemptions for supplies used in manufacturing. ABI has been working to implement this legislation for the past three years. The Iowa House passed the bill in 2014, but the Senate hadn't taken action on it, until today. Upon the governor's signature, this will be effective July 1, 2016.
- Couple state tax code with federal tax code for tax year 2015. This is critical for small businesses that had reasonably anticipated the coupling would occur as it has in the past.
ABI has been at the forefront of these issues, working closely with legislators in both chambers to implement these important tax policies. The Legislature has done it's part. Now it is up to Gov. Branstad to sign this bill into law.
Email your legislators and tell them "Thank You" for supporting Iowa jobs. A full list of representatives and how they voted is available
here. The list of state senators, all of whom supported the bill, is available
here.
Click here to watch video of the Senate's debate of HF2433.
Click here to watch video of the House's debate of HF 2433.
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