Text: HF2122            Text: HF2124
Complete Bill History


House File 2123

HOUSE FILE BY LUKAN A BILL FOR 1 An Act repealing the film, television, and video project 2 promotion program, and including effective date and 3 retroactive and other applicability provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 5356YH (2) 84 mm/sc PAG LIN 1 1 Section 1. Section 2.48, subsection 3, paragraph c, 1 2 subparagraph (5), Code 2011, is amended by striking the 1 3 subparagraph. 1 4 Sec. 2. Section 15.119, subsection 2, paragraph b, Code 1 5 Supplement 2011, is amended by striking the paragraph. 1 6 Sec. 3. Section 422.7, subsection 52, Code Supplement 2011, 1 7 is amended by striking the subsection. 1 8 Sec. 4. Section 422.33, subsections 23 and 24, Code 1 9 Supplement 2011, are amended by striking the subsections. 1 10 Sec. 5. Section 422.35, subsection 23, Code Supplement 1 11 2011, is amended by striking the subsection. 1 12 Sec. 6. Section 422.60, subsections 10 and 11, Code 1 13 Supplement 2011, are amended by striking the subsections. 1 14 Sec. 7. Section 533.329, subsection 2, paragraphs f and g, 1 15 Code Supplement 2011, are amended by striking the paragraphs. 1 16 Sec. 8. REPEAL. Sections 15.391, 15.392, 15.393, 422.11T, 1 17 422.11U, 432.12J, and 432.12K, Code and Code Supplement 2011, 1 18 are repealed. 1 19 Sec. 9. EFFECTIVE UPON ENACTMENT. This Act, being deemed of 1 20 immediate importance, takes effect upon enactment. 1 21 Sec. 10. RETROACTIVE APPLICABILITY. This Act applies 1 22 retroactively to January 1, 2012, for tax years beginning on 1 23 or after that date. 1 24 Sec. 11. APPLICABILITY. This Act does not apply to 1 25 contracts or agreements entered into on or before the effective 1 26 date of this Act. 1 27 EXPLANATION 1 28 This bill repeals the film, television, and video project 1 29 promotion program within the economic development authority. 1 30 The bill also repeals the various tax credits and tax 1 31 exclusions provided under the program. The repeal takes effect 1 32 immediately upon enactment and applies retroactively to January 1 33 1, 2012, for tax years beginning on or after that date. The 1 34 bill does not impact existing contracts or agreements entered 1 35 into on or before the effective date of the bill. The bill 2 1 makes changes corresponding to the repeal of the program and 2 2 the related tax credits and exclusions. LSB 5356YH (2) 84 mm/sc
Text: HF2122            Text: HF2124 Complete Bill History