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IA HSB755
SB
Status
2/25/2026
Primary Sponsor
Ways and Means
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AI Summary
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Creates the "Headquarters Expansion and Development for Growth and Employment Program" (EDGE Program) to provide tax incentives for businesses that locate or retain corporate headquarters in Iowa, requiring creation of new corporate jobs above base employment levels.
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Establishes the "Business Incentives for Growth Program Training Fund" and creates an "Electric Transmission System Expansion Planning and Analysis and Load Forecasting Fund" to support utility infrastructure planning.
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Repeals the existing New Jobs Tax Credit Program while modifying the Major Economic Growth Attraction Program and the Industrial New Jobs Training Program administered through community colleges.
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Requires the Iowa Utilities Commission to conduct load forecasting and analysis of electric transmission system expansion plans to support economic development and grid reliability.
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Defines eligibility requirements for businesses seeking EDGE Program benefits, including wage thresholds based on laborshed area mean wages and requirements for full-time equivalent positions with benefits such as medical insurance, pensions, and retirement plans.
Legislative Description
A bill for an act relating to matters under the purview of the economic development authority, the utilities commission, and the department of education, including creation of the headquarters expansion and development for growth and employment program, and the business incentives for growth program training fund; repeal of the new jobs tax credit program; the major economic growth attraction program; load forecasting and analysis of electric transmission system expansion plans; creation of the electric transmission system expansion planning and analysis and load forecasting fund; the industrial new jobs training program; and including effective date provisions.
Last Action
Subcommittee recommends passage.
3/4/2026