Legislative News
Iowa Senators review pension system
As a legislative pension year approaches, a group of Senators met Tuesday, July 25 to hear about the status of the Iowa Public Employees Retirement System (IPERS), which is the pension system for most state employees. Donna Mueller, the CEO of the system gave an overview of the history of IPERS and some of the market driven and legislative changes that have taken place to IPERS. She said there was more than a decade of intentional underfunding of the system, retroactive benefit increases and two recessions, which has impacted the funding levels. There is an unfunded liability of about $8.3 billion. At current projections, including meeting the actuarial estimated rate of return, the system will be fully funded in twenty six years. Keep Reading...

Air Quality fee stakeholder meetings conclude 
ABI participated in a series of air quality stakeholder meetings that concluded Tuesday. The meetings were designed to address the topic of funding shortfalls at the air bureau. ABI presented recommendations at the Tuesday meeting reiterating ABI policy statements regarding fees and air quality general fund and fee based funding, as well as making suggestions for operating the bureau within its current fee caps by finding efficiencies, reviewing staffing levels and eliminating indirect costs.

DNR will now begin an internal review of the recommendations.  In a week or two, they will send the formalized recommendations out to stakeholders and ask for approval or disapproval within a certain timeline. After they receive feedback, they plan on meeting with DNR leadership to discuss the recommendations and the steps moving forward. Contact Nicole Crain at ncrain@iowaabi.org with questions or comments on these proposals.
ABI's Environment Policy Committee meets on August 17  to review this and other environmental topics. Director Gipp of the Iowa DNR will speak to the committee, as well. Click here to sign up for the meeting.
Reminder: Sign up for upcoming annual policy committee meetings
Each year ABI holds a series of important public policy meetings where members can review ABI's legislative policies and priorities in light of legislative accomplishments from the previous session and give input into what ABI's policies and priorities should be going forward. The five policy committees are: Economic Growth, Tax, Employment and Workforce, Workplace and Product Safety, Environment.  Committee attendees will also hear from speakers who will highlight topics of importance to each committee. The meetings begin on August 15 and more than 160 members have registered to attend! To RSVP for a committee meeting  click here
Federal Spotlight: Department of Labor issues Request for Information
The Department of Labor has issued a Request for Information (RFI) on the Obama Administration's Overtime rule, which was finalized last year but was stayed by a federal judge in Texas shortly before it was to go into effect. ABI submitted comments on the proposed overtime rule last fall. Additionally, former Governor Branstad joined other states to challenge the rule before it went final. The rule raises the current salary threshold for employees exempt from overtime pay from $23,660 to $47,476 and would also permit future automatic increases tied to the Consumer Price Index. If you would like to provide feedback on this issue, please contact Nicole Crain at ncrain@iowaabi.org.

Federal Spotlight: House votes to repeal arbitration rule
The House of Representatives voted on Tuesday to strike down a ruling issued by the Consumer Financial Protection Bureau (CFPB) that eliminated the option of arbitration for businesses and consumers. The vote was 230-191. The CFPB, which was established under the Obama Administration, issued the regulation earlier this month. It would have made it easier for plaintiff attorneys to file class action lawsuits. Consumers typically receive very little from these kinds of suits and would also lose out by not being able to use arbitration if they believe there have been abuses. The measure now heads to the Senate where it will only need a majority to pass because the rule is being scrutinized under the Congressional Review Act. The White House has signaled that they are supportive of the measure. Read more from The Washington Times.

Registration is Open! 
Advanced Manufacturing Conference
The 2017 Advanced Manufacturing Conference will be more valuable to your business than ever. Registration is open for this year's conference, which will take place Sept. 20 at the Meadows Events & Conference Center in Altoona! 
Connect with colleagues and engage experts. Attend workshops with valuable takeaways. Bring new ideas back to your company about new technology, streamlined processes, safety and best practices. 
Make plans to join us the night before for the Legends in Manufacturing Awards Dinner, where we'll celebrate icons in the manufacturing industry!
ABI is hiring a communications coordinator
Do you know someone who would be great at helping share the stories of Iowa businesses? ABI is hiring a communications coordinator to lead the organization's communications and marketing efforts. Join a smart, energetic team supporting member businesses across the state! Read the job description here:  bit.ly/2uejd7l and share with those you think would be a great fit!
From the Desk of...
Ten Sales Tax Items Construction Companies Should Consider

Chris Gallo

Confused about sales and use tax laws? You are not alone! There are nearly 10,000 different taxing jurisdictions in the United States alone, and often each with their own set of rules. Many, if not all, state budgets rely heavily on the sales tax they collect and they know they aren't receiving all the tax dollars they are owed. Learning to play-or pay- by the rules in your company can help keep you out of the audit cross-hairs and positively impact your bottom line.
Although the wording may differ from state to state, a construction contractor is generally one who converts tangible personal property into real property, like buildings or land. There are a wide variety of topics for construction companies to consider: purchasing or selling materials, purchasing or selling services, the type of work: residential, new construction, remodel, mixed jobs, the list goes on. Keep reading...

Top News
CEC Opens Registration and Announces Keynote for Popular Business Technology Conference (CEC)  
CEC, a nationally recognized systems and technology integrator, opened registration for its free Business Technology Conference (BTC), scheduled for Oct. 17, 2017, in Coralville, Iowa.
Atlantic Bottling Company Honored at Waukee City Council Meeting (Dallas County News)
Atlantic Bottling Company has operated a Coca-Cola bottling plant in Waukee for nearly 30 years, but after this week, they will officially leave the city for a much larger facility in Des Moines.

Which Comes First: Estate Planning or Exit Planning? (Advance Iowa BEI)
While there isn't one right answer, owners who see that Exit Planning and Estate Planning share the same goals begin to appreciate how they can leverage the time and money they spend on their Exit Plans into the design of their Estate Plans.

MidAmerican Energy Company --  News You Can Use For Your Business (MidAmerican Energy Company) 
Make sure to visit MidAmerican's fun and educational activities at the Fair on Expo Hill, August 10- 20. 

Governor's Club Sponsors