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SF 170

A bill for an act relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.

2025-2026 Regular Session Introduced by Mark Lofgren

Iowa bill expands historic preservation tax credits across income, franchise, and insurance premium taxes to incentivize private restoration of historic structures statewide.

Committee report approving bill, renumbered as SF 653.
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Bill Summary · SF 170

Legislative bill overview

SF 170 expands Iowa's historic preservation tax credit by making it available against individual income taxes, corporate income taxes, the franchise tax, and insurance premiums tax. The bill modifies existing tax incentive mechanisms to encourage private investment in the restoration and preservation of historic structures across the state.

Why is this important

Historic preservation tax credits can stimulate economic development in older commercial districts and downtown areas by making rehabilitation projects financially viable for property owners and developers. Iowa's historic buildings represent cultural heritage assets, and tax incentives are a common policy tool to prevent demolition and encourage adaptive reuse rather than new construction.

Potential points of contention

  • Fiscal cost to state revenue: Expanding the credit across multiple tax types increases forgone state tax revenue, raising questions about whether the economic benefits justify the cost and whether funds should be allocated differently
  • Equity and geographic distribution: Tax credits primarily benefit property owners and developers with sufficient tax liability; benefits may concentrate in wealthier communities with more historic commercial property rather than reaching economically disadvantaged areas
  • Program administration and accountability: Broader application across tax types requires coordination between agencies and clear metrics to verify that credits genuinely incentivize preservation rather than subsidizing projects that would proceed anyway

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

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