HSB218/SSB1217: Weight Limits on Equipment- Moves all self-propelled implements applying plant food, agricultural limestone, or ag chemicals to the category of "implement of husbandry" (classified like a combine) with the following weight limits: 24,000 lbs. from Feb. 1- May 31 and 28,000 lbs. June 1- Jan. 31, with a max gross weight of 96,000 lbs. Equipment must still meet posted limits on bridges/overpasses: FOR, NEW PASSED OUT OF BOTH SUBCOMMITTEES
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:FOR, PASSES HOUSE COMMITTEE
Property Tax Exemption for Cover Crops- Proposes 50% reduction in property taxes for those planting cover crops, concerns related to funding & impact to be ironed out: MONITORING, UNCHANGED
Fees on Public Utilities for the use of Public Rights-Of-Way- Limiting right-of-way fees to direct/documented costs:FOR, UNCHANGED
Prize Linked Savings- Allows lending institutions to offer promotions for specific savings accounts, as allowed in 29 other states. DYK 44% of Americans don't have $400 saved to cover an emergency expense?:FOR, PASSED OUT OF SENATE SUBCOMMITTEE
Smart Meters- Allows customers to choose if they would like an analog meter, at no additional charge: MONITORING, UNCHANGED
FUN FACT FRIDAY:
The Rural Economic Development Loan and Grant Program brought $1.1 billion in project investments to rural Iowa.