Iowa Lawmakers Pass Steel Plant Tax Credits
Iowa lawmakers passed legislation expanding the state tax credit program to support a major new steel plant project. Both the House and Senate approved the bill during a special session.
Insights:
Iowa lawmakers voted 75-17 in the House and 28-19 in the Senate Friday afternoon to expand the state's Major Economic Growth Attraction tax credit program. The legislation provides up to $1.36 billion in tax incentives for a proposed steel plant in the United States.
The special legislative session followed a presidential announcement earlier in the week regarding a $15 billion steel plant development in Lee County. Lawmakers advanced House File 2801 to Gov. Kim Reynolds' desk for signature.
