Legislative News
Secretary of State Proposes Rules to Increase Business Fees
The latest Iowa Administrative Bulletin was published on Wednesday. It includes a proposed administrative rule that would significantly increase a number of fees businesses pay to the Secretary of State's office. The rule, ARC3320 , proposes numerous fee increases including:
  • Fees paid by the account holder for the privilege of maintaining the account would increase from $25 to $100.
  • Fees for filing and indexing a UCC document of one or two pages communicated on paper (faxes included) would be raised from $10 to $20. If there are additional pages, the fee is raised from $20 to $40.
  • Fees for filing and indexing a biennial report filed on paper or in a paper-based format would increase from $45 to $60.
  • Fees for an electronic filing through the Secretary of State's website would increase from $30 to $45. Keep reading...
Broad Federal Tax Reform Framework Unveiled
With the lack of progress on health care reform, Congress and the Trump Administration officially moved forward this week by unveiling a unified framework for federal tax reform Wednesday. National organizations such as the National Association of Manufacturers (NAM), the U.S. Chamber and the National Federation of Independent Business (NFIB) are applauding the outline.
 
According to the blueprint published yesterday, "This unified framework serves as a template for the tax-writing committees that will develop legislation through a transparent and inclusive committee process. The committees will also develop additional reforms to improve the efficiency and effectiveness of tax laws and to effectuate the goals of the framework."
 
The plan would affect individuals and corporations, but at this point, details are not finalized. Click here to read highlights of the plan.

ABI D.C. Fly-in Next Week
 With Congress and the President discussing major issues like tax reform, immigration and health care reform, it's an exciting time to be in D.C. Next week, October 2-4, key ABI members, ABI President Mike Ralston, and the ABI public policy team head to the nation's capital to meet with our congressional leaders, the Administration and national public policy partners. ABI member business attendees will have the chance to convey their views on key policy issues important to their businesses and to learn from and connect with groups aligned with ABI at the national level. We have a packed agenda and anticipate a productive trip!

Federal Spotlight: The White House Announces New STEM Initiatives
President Donald Trump has signed a memorandum that orders the Department of Education to allocate at least $200 million dollars into grant funding each year for new Science, Technology, Engineering and Math (STEM) and computer science education initiatives. The order, which was signed on Monday, is being spearheaded by the president's daughter, Ivanka. The directive does not require additional legislation to be passed by Congress. Gov. Kim Reynolds praised the initiative in a press release saying, "This will help us meet our Future Ready Iowa goal of 70 percent of the workforce having education or training beyond high school by the year 2025." The governor has been a leader in promoting STEM programs, and the Iowa Legislature passed a bill last year that supports the expansion of computer science education at all levels of schools.

No Special Session Required for Fiscal Year 2017
Officials with the Reynolds Administration announced last Wednesday there will be no need to call lawmakers back to Des Moines for a special legislative session to address the 2017 fiscal year budget. Dave Roederer, Director of the Department of Management, said during a presentation that the State of Iowa will borrow $13 million from the Economic Emergency Fund and use $1.6 million from the ending fund balance of FY17 to balance the budget. The governor has the statutory authority to borrow up to $50 million from the Economic Emergency Fund to cover a shortfall without calling the Legislature back into session. It was unknown until last Wednesday whether or not the deficit would be greater or less than $50 million.

From the Desk of...
Thomas Grabinski
On Call Funding

Equipment Leasing or Purchasing: Which is Right for You?

Many business owners feel that owning their company's equipment is the best investment long-term, and as a gut instinct, it is hard to fight. After all, people are taught from an early age that personal economics revolves around the accumulation of assets and the ownership of them outright. That is certainly true when one is trying to build personal wealth, but businesses are not just about accumulation-and good ones aren't about it at all; they're about increasing profits and doing the work that brings them. 

When weighing options for a company, it's important to look at the overall picture offered by both loans and equipment leasing, because often it is to your company's advantage to do work with equipment that you do not have the burden of owning.  Keep reading...  
Top News
Participants Selected for Prestigious Leadership Iowa Program 
Forty leaders from across Iowa have been selected as members of the 2017-18 class of Leadership Iowa, the premier issues-awareness program of the AIB Foundation. The eight-month program is designed to foster a passion for civic engagement in current and emerging leaders.  See the full list of participants . 

The Concord Coalition to Host Interactive Principles & Priorities Budget Exercise ( The Concord Coalition )
Be part of an interactive exercise where you'll learn how challenging it is to balance the federal budget, and why it matters. The free event is October 10, 7-9 p.m., at the Drake University Olmsted Center. Learn more and register here .

First Central Iowa Business Conference to Be Held October 11  (Urbandale Chamber of Commerce)
Join CEOs, entrepreneurs, investors, community leaders and executive teams for a full day of inspiration and education to take your business to a new level. This new conference is October 11, 8 a.m.-4 p.m., at the downtown Des Moines Marriott. Register here. ABI members: Use code "ABI" for a discount.

Vermeer Corporation Acquires McLaughlin Group (Vermeer Corporation)
Vermeer Corporation announced last week that it had acquired McLaughlin Group, Inc. of Greenville, South Carolina. Vermeer first purchased an interest in McLaughlin in 2012. With this deal, Vermeer will incorporate McLaughlin's products into its lineup and further cement its industry leadership. 

Governor Reynolds Proclaims October as Estate Planning Awareness Month ( News Release)
With more than 120 million people across North America not possessing updated estate plans, Governor Kim Reynolds has joined the Mid-Iowa Planned Giving Council and Planned Giving Councils across the state to encourage all Iowans to seek the help of a trusted financial planner to create or review their will.  Among the events being conducted throughout the state to promote estate planning is the annual Mid Iowa Planned Giving Council Conference on October 24 in Ankeny.  

Rural Electric Cooperatives Sent Crews to Georgia
Fifteen of Iowa's electric cooperatives sent 46 linemen and more than two dozen vehicles to Georgia to help restore power lost as Irma moved inland. Read the Gazette article.

Governor's Club Sponsors