WeVote
Log In

Bill

Bill

HF 659

A bill for an act relating to housing in the state by establishing an Iowa housing tax credit program, establishing a neighborhood renovation grant program, and increasing first-time homebuyer tax incentives, and including effective date and applicability provisions.

2025-2026 Regular Session Introduced by Jerome Amos and 22 co-sponsors

Overview: HF 659 - A bill for an act relating to housing in the state by establishing an Iowa housing tax credit program, establishing a neighborhood renovation grant program, and

Introduced, referred to Economic Growth and Technology.
#communitydevelopment #grants #housing #incometaxes #renovations #taxcredits #taxation
0
WeVote Research Nonpartisan
Bill Summary · HF 659

Overview: HF 659 - A bill for an act relating to housing in the state by establishing an Iowa housing tax credit program, establishing a neighborhood renovation grant program, and increasing first-time homebuyer tax incentives, and including effective date and applicability provisions.
Purpose and Intent: The bill aims to address housing affordability and accessibility in Iowa by implementing several initiatives, including a new tax credit program, a neighborhood renovation grant program, and increased tax incentives for first-time homebuyers.
Key Provisions:
- Establishes the Iowa Housing Tax Credit Program to provide tax credits for the construction, rehabilitation, or preservation of affordable housing units
- Creates a Neighborhood Renovation Grant Program to provide funding for home renovations and improvements in targeted low-income and underserved communities
- Increases the existing tax credit for first-time homebuyers from $5,000 to $10,000
- Expands eligibility for the first-time homebuyer tax credit to include more moderate-income households
Affected Parties and Impacts:
- Low- and moderate-income individuals and families seeking affordable housing options
- Developers and builders of affordable housing units who can utilize the new tax credit program
- Homeowners in targeted neighborhoods who can apply for the renovation grant program
- First-time homebuyers who will benefit from the increased tax credit
Procedural and Timeline Considerations:
The bill has been introduced and referred to the Economic Growth and Technology committee. If passed, the new housing initiatives would likely be implemented over the next several fiscal years, with the first-time homebuyer tax credit increase taking effect immediately.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.