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HSB 784

A bill for an act relating to state government and finances, including by making corrections, and including effective date and retroactive applicability provisions.

2025-2026 Regular Session

The bill creates retroactive and immediate tax/financial rules for nuclear facility property and services and reorganizes life insurance code for consistency.

Committee report approving bill, renumbered as HF 2800.
#appropriations #departmentsofstategovernment
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Bill Summary · HSB 784

Summary of Bill: HSB 784 (Session 2025-2026, Iowa)

Purpose and Intent

HSB 784 is a multifaceted appropriations and government-finance bill that includes provisions related to state government operations, financial matters, retroactive applicability, and adjustments to life insurance code organization. The bill also appears to address tax/financial treatment for tangible personal property and digital projects connected to nuclear electric generation facilities, with specific retroactive effective dates for certain provisions.

Key aims include:
- Making corrections and clarifying provisions within state government and financial statutes.
- Establishing retroactive applicability for certain sections to align with prior enacted acts or to implement specific fiscal/administrative changes.
- Amending life insurance code organization, updating definitions and cross-references to reflect recent statutory restructuring.

Key Provisions and Changes

Divisions and Topics

  • Division I: State Government and Finances (Corrections and Effective Dates)

    • Creates or clarifies retroactive applicability provisions for certain transactions and projects (tangible personal property and specified digital products/services) related to nuclear electric generation facilities, contingent on enactment of specific subsections of current law (referencing §423.3, subsec 111, para “c”).
    • Introduces retroactive applicability provisions with explicit dates:
    • Applies retroactively to January 1, 2026 for tangible personal property or specified digital projects/products sold to or services furnished to a nuclear electric generation facility undertaking activities described in §423.3, subsec 111, para “a”(1)(i) if enacted.
    • Immediate-effect provisions (Sec. 20) for certain amendments:
    • Amendments to section 256C.4, subsec 1A, para “b” take effect upon enactment.
    • Amendments related to 2026 Iowa Acts, H.F. 2739, Sec. 13 also take effect immediately.
    • Retroactive applicability for 2026 Iowa Acts, H.F. 2739, Sec. 13:
    • Applies to amendments to §256C.4, subsec 1A, para “b” retroactively to the effective date of those acts.

  • Sec. 21 & Sec. 22: Additional Retroactive Applicability

    • Section 21: Retroactive applicability tying to the effective date of 2026 Iowa Acts, H.F. 2754, Sec. 13, for amendments to §256C.4, subsec 1A, para “b”.
    • Section 22: Retroactive applicability for tax years beginning on or after January 1, 2026 for the same H.F. 2739 Sec. 13 amendments (treating the fiscal/tax impact back to 2026).

  • Division II: Life Insurance — Code Organization

    • Sec. 23: Reworks language in Section 508.101 (existing code language) as enacted by 2026 Iowa Acts, H.F. 2232, Sec. 4, to a revised reading for uniformity within the life insurance code organization.
    • Sec. 24: Section 508.102, Subsection 2, as enacted by 2026-7 (refers to codification updates) to align with the reorganized life insurance code.

Affected Parties and Impacts

  • State Government and Finance Officials: Changes primarily affect how and when certain provisions apply, including retroactive and immediate effect provisions, and corrections to cross-referenced code sections.
  • Nuclear Electric Generation Facility Projects: The bill contemplates tax/financial treatment for tangible personal property, specified digital products, and services related to nuclear facility activities under §423.3, with retroactive dates dependent on enacted subsections.
  • Taxpayers/Businesses: Entities engaged in sales of tangible property or digital products/services to nuclear facilities could see retroactive applicability of certain tax or financial provisions starting January 1, 2026, subject to the act’s enactment and specific subsections.
  • Life Insurance Sector/Code Payers: Reorganization/clarification of life insurance code provisions (Sections 508.101 and 508.102) to reflect new codification, with potential implications for compliance and interpretation.

Procedural and Timeline Details

  • Introduction and Referral: Introduced May 2, 2026, to Appropriations.
  • Subcommittee Review: May 2, 2026; Subcommittee recommended passage.
  • Retroactive Dates:
    • January 1, 2026: For certain nuclear-related property/product transactions if triggered by enacted subsections.
    • Effective dates tied to enactment: Immediate effect for certain amendments to 256C.4, 1A, para b, and to 2026 H.F. 2739 Sec. 13 provisions.
    • Retroactive tax-year applicability: For 2026 onward, for Amends in H.F. 2739 Sec. 13 related to 256C.4(1A)(b).
  • Code Amendments: Specific sections related to life insurance code organization (Sections 508.101, 508.102) are amended to reflect new organization and wording, with immediate effect upon enactment where applicable.

Notes for Readers

  • The bill contains complex, retroactive provisions that depend on the enactment of other acts and subsections. If enacted, key retroactive dates could affect transactions dating back to January 1, 2026.
  • The nuclear facility-related provisions suggest nuanced tax/financial treatment for goods/services tied to nuclear generation activities, contingent on the activation of particular statutory subsections.
  • Division II cleanly updates the life insurance code organization, likely for consistency with newer codifications enacted in prior or concurrent sessions.

If you’d like, I can extract the exact statutory citations and map them to potential fiscal impact estimates or provide a plain-English primer for specific stakeholder groups (businesses, insurers, local governments).

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

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