April 11, 2019
Workers’ Compensation Legislation Heads to Governor’s Desk
On Tuesday evening, the House passed  SF 507  with a bipartisan vote of 55-44. The legislation, which was approved by the Senate a few weeks ago, ensures that idiopathic or unexplained falls from a level surface onto the same level surface are not compensable under workers’ compensation. The bill was necessary to fix an Iowa Supreme Court decision from last November. Read more .

Empower Rural Iowa Advances Out of House Ways and Means
The House Ways and Means Committee Wednesday afternoon amended and passed  HSB 204 , which is the governor’s Empower Rural Iowa legislation related to broadband policy and increasing the workforce housing tax credit cap. The new bill number is  HF 772 . Some highlights of the new bill include... Read more .

House and Senate Make Budget Progress
The Iowa House and Senate spent this week debating and passing budget bills to the other chamber to consider and make changes. Although the House and Senate are still working to come to an agreement on the numbers, the fact the bills are being debated is a good sign for a continued push toward adjournment. Here is the most recent status on the budget bills.

The House has passed the following bills out of the chamber or out of committee:
  • HF 758 – Education Appropriations bill, which includes $14.78 million for Last Dollar Scholarship funding for Future Ready Iowa. The bill passed the House 58-38 on April 4, and a Senate Educations Appropriation subcommittee will now consider the legislation.
  • HF 765 – RIIF Appropriations. The legislation allocates $200 million for FY20 to improve infrastructure and $24 million in building and facility maintenance. The bill passed the House unanimously on Tuesday and has been assigned a subcommittee in the Senate.
  • HF 759 – Administration and Regulation Appropriations passed the Iowa House on Tuesday with a party-line vote of 54-56. A few amendments were adopted including $100,000 for outreach to minorities to encourage more voter participation. The bill has been assigned a subcommittee in the Senate.
  • Read more House bills passed.

The Senate has advanced the following bills:
  • SF 609 – Agriculture and Natural Resources Appropriations passed the Senate on a party-line vote of 32-18 on Monday. The House Agriculture Budget Subcommittee passed the Senate bill with a strike-after amendment. The bill is expected to pass out of the full House Appropriations Committee today.
  • SF 616 – Judicial Appropriations passed the full Senate Appropriations Committee on Monday. This bill funds the court system for the state and establishes the salary of judges.
  • SF 615 – The Justice System budget passed the full Senate Appropriations Committee on Monday. This budget bill appropriates $579 million from the General Fund to fund several state agencies such as Human Rights, Homeland Security, Public Defender’s office and state correctional institutions. The bill will be eligible for debate in the Senate early next week.
  • Read more Senate bills that advanced.

PBM Transparency Legislation Amended and Passed Senate
The Iowa Senate on Wednesday amended  SF 563 , which was legislation geared toward the pharmacy benefit manager (PBM) industry often seen as the “middleman” when it comes to prescription drugs and pricing that employers and consumers ultimately pay. The initial bill included a rebate requirement that would mandate that the consumer get a majority of the rebate, which could affect employers' costs and the benefits they offer to all employees. Read more .

Property Tax Legislation Ready for Full House Discussion
Late Tuesday evening members of the House Ways and Means Committee voted on a party-line vote to advance  HSB 165  with amendment to the full House for consideration. The legislation is an attempt to address rising property taxes on businesses and residential taxpayers. The bill places a 2% cap on local governments' ability to increase property tax revenue. Read more .

Key State Leaders Confirmed
The Iowa Senate has confirmed gubernatorial appointments to state boards and commissions the last few weeks. This week, several individuals in high-level positions were confirmed. Wednesday, the Iowa Senate confirmed Iowa Economic Development Authority/Iowa Finance Authority Executive Director Debi Durham and Rod Roberts, who will be the new Labor Commissioner after previously serving as the Director of Department of Inspections and Appeals. On Thursday, the Iowa Senate confirmed on a vote of 49 to 0 former House Speaker Kraig Paulsen to be Director of Revenue. Iowa Workforce Development Director Beth Townsend was confirmed by a vote of 43 to 6.

Federal Spotlight: Sen. Grassley Town Halls Announced
Sen. Chuck Grassley will hold multiple town meetings as part of his annual 99 County Tour the next few weeks. He’ll be in Atlantic on April 16, Carroll on April 17 and Independence on April 23. This is Sen. Grassley’s 39th year of holding at least one meeting in every county in Iowa. He’s done this every year since he was first elected to the United States Senate in 1980. Find the meeting times and locations .

Secretary of State Unveils Fast Track Filing for UCC Filers
Secretary of State Paul Pate announced last Thursday that Uniform Commercial Code (UCC) filers are now able to take advantage of the Fast Track Filing system for their business. Iowans will now be able to register their new business, change their registered agent and file UCCs using Fast Track Filing. Read more .
Present at the 2019 Advanced Manufacturing Conference
Do you have expertise on issues important to Iowa manufacturers? Share your insight with attendees at the 2019 Advanced Manufacturing Conference on October 2. ABI is now accepting proposals for workshop speakers. 

Preferred topics include:
  • Digital transformation
  • Creating new products/Reaching new markets
  • Manufacturing technologies
  • LEAN
  • How to attract high school students to manufacturing
  • Building a culture of innovation
  • Policy effects on manufacturing
  • Patents/Trademarks/Intellectual property rights
  • Engaging the new workforce dynamics
  • Marketing strategies

Proposals are due June 28. Email  Holly Mueggenberg  for a proposal form.
Minimize Business Risks for Higher Valuation
Tom Cavanagh
Vice President
BCC Advisers

When buyers value a potential acquisition target, they most often look at projected future cash flows and discount them based on the likelihood of achieving those levels of earnings to develop a present value. Put another way, they discount the projections based upon perceived risk, with riskier cash flows being discounted at a higher rate. The discount rate accounts for risk factors that business owners cannot control, such as general economic and industry risks or changes in Treasury rates. However, many risk factors directly attributed to the business are assessed and included in the discount rate through what is called specific risk. Many of these factors are well within the control of the business owner. Read more .
Tero International Expands Training Facility, Adds First-of-its-kind in Des Moines Area Corporate Filming Studio
You're invited to attend an open house at Tero International, April 18, 4-7 p.m., showcasing its expanded facility and new corporate video production studio. Enjoy appetizers by Cyd’s Catering and live music by Des Moines music legend Tony Valdez. You will also have the opportunity to experience the virtual production studio, green screen and cyc wall firsthand. Read the full news release .

Upper Iowa University to Host Spring Graduate Fair on April 17
Find out how to advance your career with UIU graduate degrees at a Spring Graduate Fair, April 17, 4-6 p.m. Attend at a center near you in Cedar Rapids, Des Moines, Quad Cities, Prairie du Chien or Waterloo. Unable to attend in person? Watch the Facebook Live event that day at 7 p.m. Reminder: A 20% tuition grant is available for ABI and eligible family members through the Buy ABI program . Learn more .

Tru Art Acquires Graphic Printing & Designs
Tru Art Color Graphics announced this week that it is acquiring local screen printer Graphic Printing & Designs, Inc. Both companies are longtime members of the Iowa City business community with Graphic Printing & Designs serving the area for over 50 years, while Tru Art has been working nationally for over 120 years. Graphic Printing & Designs has a history of exceptional products and service, providing screen-printed apparel, creative services and offset printing to area customers. Read the full news release .

"Tariffs Hurt the Heartland" Town Hall Coming to Williamsburg
Join Farmers for Free Trade, Americans for Free Trade and the Association of Equipment Manufacturers on April 24,11:30 a.m.-1 p.m., at the Kinze Innovation Center in Williamsburg to hear stories of how the trade war is impacting Iowa businesses, consumers, agriculture producers and manufacturers. The event is part of an ongoing series held across the country, bringing together a bipartisan coalition of ag producers, manufacturers, workers, consumers and over 150+ of the country’s largest trade associations. RSVP now .

Governor's 2019 Future Ready Iowa Summit is April 30
On April 30, leaders from business and industry, education, nonprofits, elected officials, students and others from across Iowa will come together for the STEM Education + Workplace Partnerships – Governor's 2019 Future Ready Iowa Summit. This event will showcase innovative education-employer partnerships emerging across Iowa to fuel the workforce of Iowa’s future.  Learn more .