Weight Limits on Equipment
- Moves all self-propelled implements applying plant food, agricultural limestone, or ag chemicals to the category of "implement of husbandry." Maximum of 25,000 lbs. and specifically stating that equipment must still meet posted limits on bridges/overpasses (allowing for permits to pass on weight capped roads/bridges):
FOR: SF555 Heads to the House, after passing the Senate vote 49-0.
Beginning Farmer Credit
- Establishes a new Beginning Farmer Tax Credit program replacing Agricultural Assets Transfer Credit. Also allows farmers with ag assets a tax credit for assisting beginning farmers. Caps the credit at $50,000/year per farmer. Expands replacement program from $6 million to $12 million:
Electric Vehicle Taxes
- Provides registration taxes and tax at charging stations equivalent to average road use taxes paid through fuel consumption (per the DOT: the average motorist pays $150/year):
Empower Rural Iowa
- Creates incentives for broadband and workforce housing. Amendments were discussed including adding a broadband base speed and making the bill withstand the test of time/future:
Farmer members may be interested to know...
: Section 179 Expensing
- Expands Section 179 expensing for individual state income tax to include corporations, financial institutions, LLCs, and partnerships up to $70,000 in 2018 ($100,000 in 2019). Also provides a minimum $280,000 deduction and investment limitation. Retroactive to January 2018 and signed by Governor Reynolds into law.
Find your state legislators
Subcommittee meeting with Jake Swanson (seated, far right), Liaison for IDALS. Legislators pictured, also seated L to R: Rep. Chuck Isenhart, Rep. David Sieck, and Rep. Louie Zumbach.