A bill for an act concerning the apportionment of certain business income of an airline or a qualified air freight forwarder for purposes of Iowa corporate income tax, and including retroactive applicability provisions.

This bill aims to change how Iowa calculates corporate income tax for airlines and qualified air freight forwarders by adjusting the way their business income is divided or apportioned. It also includes provisions that would apply these changes retroactively, meaning they could affect past tax calculations as well.

Supporters of this bill argue that it will provide a fairer tax structure for airlines and air freight companies operating in Iowa, potentially encouraging growth and investment in the aviation sector. They believe that by clarifying income apportionment, the bill will help these businesses thrive, leading to job creation and economic benefits for the state.

Critics of the bill may contend that retroactive tax changes create uncertainty and could unfairly burden taxpayers who might have to adjust previous filings. They could also argue that this legislation primarily benefits large corporations at the expense of smaller businesses and the state's tax revenue.