Iowa Senate Panel Hits Tax Breaks Hard
DES MOINES, Iowa (AP) — An Iowa Senate committee has approved tax breaks that reward green energy, charitable food donations and preserving historical sites.
The Senate Ways and Means Committee passed multiple tax break bills Wednesday. These now move before the full Senate.
One bill would provide $5 million in state dollars to fund income tax breaks for individuals, farmers and businesses who want to install a fueling station for electric or natural gas-powered vehicles. The Senate approved a similar bill with bipartisan support two years ago but it failed in the House.
The panel approved a proposed income tax break for farmers who donate excess produce to local food banks.
Another bill would raise historic preservation credits for Iowa communities to $60 million. Credits cover 25 percent of rehabilitation costs for eligible historic buildings.