We are two weeks away from the second funnel week, which occurs in legislative week 12, March 27-31. By the end of that week, any policy bill will need to have been passed out of committee in the other chamber in order to stay alive for the year.
In addition to the policy transition process, another part of the session that starts now is the budget process. The Revenue Estimating Conference (REC) met on Friday, March 10th to determine their updated revenue projections. They increased their revenue projections for both the current fiscal year (FY2023 – up $135m) and the upcoming fiscal year (FY2024 – up $25m).
Since the Legislature is required to build their budget using the lower of the December and March projections, legislative leadership will start assembling the FY2024 budgets based on the REC’s December numbers. They will have roughly $9.625 billion to work with as they determine their appropriation bills. This is about $100 million lower than FY 2023, a reduction that was expected in the wake of last year’s tax cut legislation.
Professional Developer of Iowa continues to track many bills on behalf of Marion Economic Development Corporation and other PDI members including:
SF269: Career/Technical Education
Makes changes to civil liability associated with students participating in work-based learning programs and career and technical education instruction provided to students in grades 9-12, and establishes a career and technical education teachers grant program.
SF356: Local Government Budgets
Makes changes related to local property taxes, financial authority, and budgets.
HF639: Registered Apprenticeship Act
Establishes the Iowa registered apprenticeship act.
HF506: Workforce Housing Tax Incentives
- Makes changes to the workforce housing tax incentives program.
- Increases the cap for tax credits to the workforce housing tax incentives program.
HF642: Major Economic Growth Attraction Program
Creates a major economic growth attraction program.
SF182: Land Redevelopment Trusts
Allows cities to establish land redevelopment trusts. Summary available HERE
HSB63: New Resident/Graduate Tax Credits
Creates new resident and new graduate tax credits.
HF447: Workforce Grant & Incentive Program
Establishes the Iowa Workforce Grant and Incentive Program.
CLICK HERE to review the Bill Tracker for a broader list of bills being monitored by PDI.