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IA HF2482
Bill
Status
2/16/2026
Primary Sponsor
Elizabeth Wilson
Click for details
AI Summary
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Exempts income received by certified public accountants (CPAs) from Iowa state income tax when performing audits or examinations of governmental subdivisions under Code section 11.6.
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Applies to both individual income tax (section 422.7) and corporate income tax (section 422.35) by allowing the income to be subtracted from taxable income.
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Governmental subdivisions must contract with CPAs through a reasonable process based on competence, qualifications, and fair pricing, using written requests for proposals.
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Applies retroactively to tax years beginning on or after January 1, 2026.
Legislative Description
A bill for an act exempting from state income tax income received by a certified public accountant performing certain audits or examinations of governmental subdivisions, and including retroactive applicability provisions.
Last Action
Introduced, referred to Ways and Means. H.J. 296.
2/16/2026