ARC 5503C

ARC 5503C

REVENUE DEPARTMENT[701]

Amended Notice of Intended Action

Providing for a public hearing on rule making related to

broadband infrastructure grant exemption

The Notice of Intended Action published in the Iowa Administrative Bulletin on January 27, 2021, as ARC 5399C proposes to amend Chapter 40, "Determination of Net Income," Chapter 53, "Determination of Net Income," and Chapter 59, "Determination of Net Income," Iowa Administrative Code. In order to receive oral comments concerning ARC 5399C, the Revenue Department hereby gives notice that a public hearing will be held via Google Meet at the link below. Participants may also call in via phone at the following phone number: (‪US‬)‪+1 507.589.4983. ‬When prompted, enter PIN: ‪504 479 534#‬

Persons who wish to make oral comments at the public hearing may be asked to state their names for the record and to confine their remarks to the subject of this proposed rule making.

Any persons who intend to attend the public hearing and have special requirements, such as those related to hearing or mobility impairments, should contact the Department and advise of specific needs.

Legal Authority for Rule Making

This rule making is proposed under the authority provided in Iowa Code section 422.68.

State or Federal Law Implemented

This rule making implements, in whole or in part, Iowa Code sections 422.7, 422.35 and 422.61.

Purpose and Summary

The proposed rule making is intended to implement new income tax exemptions created by 2020 Iowa Acts, House File 2641, for certain broadband grants provided to qualified service providers by providing definitions necessary to implement those exemptions.

A hearing on the proposed rule making has been requested. No changes have been made from the original Notice.

Fiscal Impact, Jobs Impact, Waivers

Statements related to the fiscal impact, jobs impact, and waiver of this rule making may be found in the preamble of ARC 5399C.

Review by Administrative Rules Review Committee

The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rule making by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rule making at its regular monthly meeting or at a special meeting. The Committee's meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).