Recently, Iowans for Tax Relief released a poll showing Iowans overwhelmingly support the constitutional amendment proposed earlier this legislative session. According to the poll, over 67 percent of Iowans support requiring a supermajority vote by the Legislature to raise income tax rates in Iowa. Iowans also overwhelmingly support putting the flat tax into the Iowa Constitution, ensuring a single tax rate for all taxpayers in Iowa.
Tax reform for hard-working Iowa families has been a priority for me since we gained the majority in 2017. Since then, we’ve passed historic tax relief legislation again and again. In 2018 we passed our first tax relief package, prioritizing Iowa’s families, farmers and small businesses by lowering Iowa’s top income tax rate. In 2021, we passed a billion-dollar tax cut, providing additional tax relief to small businesses, eliminating the inheritance tax, and providing both income and property tax relief to Iowans. Finally, in 2022, we passed the historic flat tax and eliminated taxes on retirement income, providing Iowans with real, permanent tax relief, makes Iowa more competitive with other states, and simplifying our tax code.
After years of monumental tax relief for Iowans, we have made huge progress as a state. By requiring a supermajority to raise income tax rates in Iowa, we can protect all these reforms we have worked hard on, further protect the dollars of hard-working Iowans, and make sure that if there was ever a need to raise taxes in the future, it would likely require bipartisan support.
Raising taxes on Iowans shouldn’t be easy. There should be a higher bar and an overwhelming need to raise income taxes on Iowans. By also putting into the Iowa Constitution a single, flat tax for Iowans, we can ensure Iowa’s tax code remains simple and fair for all taxpayers.
Land protections pass Iowa Senate
This week the Senate passed Senate File 2204, giving Iowans more information about who owns Iowa’s farmland and helping us protect one of our greatest resources. Senate File 2204 requires nonresident aliens, foreign businesses, and foreign governments to register their farmland with the Secretary of State. It also requires them to include their legal name, address, nationality, and authority to purchase agricultural land.
The bill requires a statement of purpose for conducting business in the state, their interest in owning the land, a listing of all landholdings across the United States totaling more than 250 acres by a parent corporation or its subsidiary, and the legal name and address of a parent corporation or its subsidiary when registering with the state.
If a foreign entity fails to register in a timely manner, they would be subject to a penalty of up to 25 percent of the assessed value of the land, and they must register land within 60 days of acquisition. The bill also requires this registration to be updated twice a year, and if a foreign entity fails to file the biennial report or provides false information, they will be subject to a fine of no more than $10k per offense.
As an agricultural state, Iowans have a strong and vested interest in protecting our land and knowing who owns it. We are already known for having strong laws on land ownership, and this bill, proposed by Governor Kim Reynolds, would strengthen them even further and increase the penalties for bad actors. It is vital for our food and national security for Iowa farmland remains in the hands of Iowans and Americans.
