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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 03, 2009
Page
6
State tax collections fell 7.6 percent from March 2008 with three months remaining in fiscal year 2009. Revenue reports show nine months down 2 percent year over year, an $87.2 million drop, and the EST conference lowering estimates by 2.6 percent or $157.9 million by June 30.
Iowa House Democrats and Republicans traded criticisms over ending federal deductibility. Democrats claim GOP flip flop and argue the plan lowers taxes for most Iowans, while Republicans say the numbers cited are misapplied. House leaders say they have 52 votes and will push the measure after debates, using windfall to cut rates.
Iowa Senate approved legislation to create revitalization zones offering up to five years of tax abatements on improvements in disaster declared areas. Cities or counties must adopt disaster mitigation plans and can bond for 30 years. The bill passes 48 to 2. A separate $45 million economic development budget was approved.
The Iowa House approved Senate File 447 allowing diners to reseal and bag unfinished wine bottles for transport from restaurants. The measure passed 93 to 2 and moves to the governor.
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