Iowa 2025-2026 Regular Session

Iowa Senate Bill SF436

Introduced
2/25/25  

Caption

A bill for an act removing the maximum annual amount of real estate transfer tax receipts that may be transferred into the housing trust fund.

Impact

By eliminating the maximum cap on allocations to the HTF, SF436 seeks to enhance the financial resources available for affordable housing projects across Iowa. With rising housing costs and a demand for low-income housing options, this bill is designed to bolster state efforts to ensure adequate housing for all citizens. The bill addresses a critical need within the community, potentially transforming the landscape of affordable housing and enabling more projects to be funded as necessary.

Summary

Senate File 436, introduced by Senators Weiner and others, aims to remove the current $7 million cap on the annual amount of real estate transfer tax receipts that can be deposited into the housing trust fund (HTF). This change is significant as it allows for potentially unlimited funds to be allocated to affordable housing initiatives in the state, which are crucial for supporting low-income households. The HTF is an essential resource for the development and preservation of affordable housing and is also tied into the Iowa mortgage help initiative, aimed at assisting residents in need.

Contention

While proponents of the bill argue that it would lead to better funding for affordable housing, opponents may express concerns related to the management and allocation of these funds. The removal of a cap could lead to debates surrounding fiscal responsibility and prioritization of funding, particularly when it comes to balancing resources between various state programs. Ensuring that the increase in funding benefits low-income families while maintaining checks on spending may become a point of contention as the bill moves through the legislative process.

Companion Bills

IA HF171

Similar To A bill for an act removing the maximum annual amount of real estate transfer tax receipts that may be transferred into the housing trust fund.

Previously Filed As

IA HF171

A bill for an act removing the maximum annual amount of real estate transfer tax receipts that may be transferred into the housing trust fund.

IA HB530

Increasing the amount of revenue transfered from the real estate transfer tax to the affordable housing fund.

IA HB2298

Transferring $1,000,000,000 from the budget stabilization fund to the liability reduction fund of KPERS, using a portion of the interest earnings of the liability reduction fund to provide a 2% COLA for retirants who have been retired for more than 5 years, transferring annually certain amounts from the state general fund to the budget stabilization fund and establishing requirements for the expenditure or transfer of moneys from the budget stabilization fund.

IA A1229

Provides municipality with affordable housing credit toward its municipal fair share housing obligation for funds transferred to the New Jersey Affordable Housing Trust Fund pursuant to P.L.2008, c.46.

IA HF1159

Eligible uses of increment from tax increment financing districts expanded to include transfers to local housing trust funds, and requirements on use of transferred increment imposed.

IA S0253

Establishes a new program where the per pupil funding, calculated annually by RIDE, would be transferred into a newly created educational funding account run by the children's scholarship fund to pay for educational expenses.

IA S2540

Establishes a new program where the per pupil funding, calculated annually by RIDE, would be transferred into a newly created educational funding account run by the children's scholarship fund to pay for educational expenses.

IA SB510

Requiring interest earnings of the parks fee fund to be transferred to such fund each month.

IA SJR75

Proposing a constitutional amendment creating the workforce housing fund to facilitate the development of affordable workforce housing and transferring to that fund $2 billion from state general revenue.

IA HB951

Transferring funds to local road and bridge account

Similar Bills

No similar bills found.