The bill establishes new radon mitigation requirements for residential construction in Iowa, mandating that all new single-family and two-family homes include passive radon mitigation methods as part of the state building code. This requirement will only apply to construction that begins after the adoption of the new regulations. Additionally, the bill introduces a radon mitigation system tax credit, which allows taxpayers to reduce their individual and corporate income tax liabilities by the cost of purchasing and installing a radon mitigation system, up to a maximum of one thousand dollars.

Furthermore, the bill includes provisions for retroactive applicability, meaning that the tax credit and the amendments to the tax code will apply to tax years starting on or after January 1, 2025. The tax credit can be claimed by individuals based on their share of income from partnerships, limited liability companies, S corporations, estates, or trusts, and any excess credit beyond the taxpayer's liability can be carried forward to the following tax year.

Statutes affected:
Introduced: 422.12
Reprinted: 422.12