IA SSB3181

Nuclear electric generation facilities must contribute at least 5% of their annual sales tax exemption value to nuclear engineering programs at Iowa Board of Regents institutions as a condition of receiving the exemption.

Web search portal businesses and data center businesses with new construction or additions completed on or after January 1, 2027, must enter similar contribution agreements to receive sales tax exemptions under sections 423.3, subsections 92, 93, or 95.

The Iowa Economic Development Authority will administer agreements and verify contributions; the Department of Revenue will provide annual exemption value data.

Businesses that fail to make required contributions will have their tax exemption registration cancelled and must repay the full aggregate amount of exemptions claimed for that calendar year.

Contributions must support establishing and maintaining nuclear engineering programs at one or more state universities governed by the Board of Regents.