AGRIBUSINESS: Increased Sales Tax To Help Environment

In 2010, Iowa Code created a natural resources and outdoor recreation trust fund in the state treasury. Effectively, the law protects and enhances water quality and the natural areas in the state, and conserves agricultural soils by using a percentage of increased sales taxes for funding.

Since 2010, the sales tax in Iowa has not increased; however, so no money has gone into the trust fund.

House File 2470 was introduced by the Ways and Means committee yesterday. The act would raise state sales tax from six percent to 6.375 percent and compensate higher taxes by adding increased income tax credits.

The Iowa Farm Bureau announced they are against H.F. 2470.

The division for sales tax would take effect in July of 2015.

Filed in: Agribusiness


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