This bill outlines appropriations for economic development in Iowa for the fiscal year beginning July 1, 2026, and ending June 30, 2027. It allocates a total of $12,903,510 to the Iowa Economic Development Authority (IEDA) for initiatives aimed at expanding the state economy, increasing wealth, and boosting population. The IEDA is tasked with focusing on commercially viable products, adopting free market practices, and fostering entrepreneurial development. The bill also specifies that no funds shall be used for geothermal systems for melting snow and ice and sets limitations on standing appropriations for arts and tourism marketing. Additionally, it mandates annual reporting on financial assistance awarded by the IEDA.

The bill further designates specific appropriations for the Iowa Finance Authority (IFA) and the Department of Workforce Development (IWD), emphasizing support for Iowa-based companies and workforce development initiatives. It includes provisions for matching funds for research projects, requiring small businesses to match $1 for every $3 of state funds, while other businesses must match $1 for every $1 of state funds. The bill also mandates annual reporting from Iowa State University on private contributions and research benefits, and it requires various state entities to submit reports to the General Assembly to ensure accountability and transparency in the use of appropriated funds.