A quick recap of the 2024 MBI Legislative Priorities are as follows:
Sales Tax for Sister Affiliated Companies
a. Gov. Reynolds has signed this legislation. Put simply, we eliminated double taxation amongst sister-affiliated companies who register vehicles under the parent company.
MEGA Site Attraction Program
a. Gov. Reynolds has signed this legislation. This legislation, proposed by the Iowa Economic Development Authority, will attract MEGA site projects worth over $1 billion to limited areas of Iowa.
Tax Reform
a. The Senate and House landed on two different items that MBI supported:
- Accelerating income tax cuts to flatten rate to 3.8% and be implemented next year.
- Constitutional amendment requiring a higher threshold to increase future taxes.
b. Gov. Reynolds signed this legislation.
RIIF Funding
a. Increase in Major Maintenance budget from $20M to $22M for 5 consecutive years.
b. Gov. Reynolds signed this legislation.
In addition to these priorities, a couple of other legislative wins for MBI members occurred:
Stormwater Permitting and Topsoil Replacement
- A bill that would restrict a local municipality from requiring stricter standards that what state and federal guidelines on stormwater runoff and topsoil replacement require. Gov. Reynolds signed this legislation.
School Security Legislation
- MBI will play a role in a taskforce that will make recommendations to lawmakers by next year regarding code adoption of school safety requirements. Gov. Reynolds signed this legislation.
Casino Gaming Licenses
- The Legislature decided not to continue a moratorium on new gaming licenses paving an opening for Cedar Rapids/Linn County to apply for a gaming license for a casino in Iowa's second-largest city.