A bill for an act relating to the historic preservation tax credit available against the individual and corporate income taxes, the franchise tax, and the insurance premiums tax.(Formerly SF 170.)

IA SF653 is a bill that aims to enhance the historic preservation tax credit for individuals and corporations. This tax credit can be used to reduce taxes owed on personal and corporate income, franchise taxes, and insurance premiums. The goal is to encourage investment in preserving Iowa's historic sites and buildings.

Supporters of IA SF653 would argue that this bill is a vital step in preserving Iowa's rich history and cultural heritage. By providing tax credits, it incentivizes property owners and businesses to invest in the restoration of historic sites, which can boost local economies and tourism.

Critics of IA SF653 may contend that the bill represents a misallocation of state funds, arguing that tax credits could lead to significant revenue losses. They might also express concern that the benefits of the tax credits primarily favor wealthier individuals and corporations, rather than addressing broader state needs.