The bill amends existing Iowa law to extend the tax credits for E-15 gasoline, allowing retail dealers to claim these credits against individual and corporate income taxes until January 1, 2028. Specifically, it modifies several sections of the Code 2025, including Section 422.11O, Section 422.11Y, and Section 422.33, by changing the repeal date from January 1, 2026, to January 1, 2028. This extension ensures that retail dealers can continue to benefit from the E-15 plus gasoline promotion tax credit for an additional two years.

Additionally, the bill clarifies that retail dealers who may claim the E-15 plus gasoline promotion tax credit can also claim the E-85 promotion tax credit during the same year, further supporting the promotion of alternative fuels. It also ensures that retail dealers whose tax years do not align with the repeal date can still claim the tax credit for the entire tax year, thereby providing a more consistent and predictable tax benefit for those involved in the sale of E-15 gasoline.

Statutes affected:
Introduced: 422.11O, 422.11Y, 422.33