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May 24, 2022
Lawmakers Approve Pro-Small Biz Legislation
Small Biz Victories: 2022 Iowa Legislative Wrap Up
- Eliminates the capital gains tax on the sale of shares of qualified ESOP businesses.
- Exempts farmer retirement income on either cash rent or capital gains tax
Governor Kim Reynolds signed bill into law on March 1, 2022
HF 2355 – Unemployment Insurance Reform This legislation reforms Iowa’s current unemployment insurance system and transforms it into a re-employment system. The bill accomplishes many things including minimizing the maximum amount of time an individual can be on unemployment from 6 months to 4 months. This provision alone will save employers $70-80 million dollars per year in unemployment taxes. Passed the House 58-37. Passed the Senate 30-14. Other Key Highlights:- Enhances suitable work requirements by accelerating the timeframe and wage at which someone must accept a job.
- Defines the term “misconduct,” allowing both parties to know the rules of the game when a dispute is brought before a judge.
Governor Kim Reynolds signed bill into law on June 16, 2022
State:
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