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IA HF872
Bill
Status
3/25/2025
Primary Sponsor
Economic Growth And Technology
Click for details
AI Summary
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Increases the maximum annual gross income threshold for a business to qualify as a "targeted small business" from $4 million to $10 million, computed as an average of the three preceding fiscal years
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Changes terminology from "small business" to "enterprise" in the definition of targeted small business
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Targeted small businesses must be 51% or more owned, operated, and actively managed by women, minority persons, service-disabled veterans, or persons with a disability
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Qualifying businesses must be located in Iowa, operated for profit under single management, and have fewer than 20 employees
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Amends Section 15.102, subsection 12, paragraph a of the Iowa Code
Legislative Description
A bill for an act relating to the maximum annual gross income for an enterprise to qualify as a targeted small business. (Formerly HF 112.)
Last Action
Subcommittee recommends passage.
4/2/2025