From Rep. Sharon Steckman –
Today I would like to remind Iowans about several new laws that will hit the books the first day of 2014. Part of our effort was to strengthen the middle class, hard- working families who qualify for the earned income tax credit. They will find their tax credit has doubled this year. Also, all Iowans will benefit from a new $54 state income tax credit when filing 2013 taxes this winter.
Other new laws going into effect include:
• Iowa businesses can receive a property tax credit up to $500 in 2014 (and up to $2,000 in future years) if they fill out a simple one-page application by January 15, 2014.
• Increased safety for young drivers, including new drivers will now have to carry an instructional permit for 12 months, instead of 6 months, before getting an intermediate license. For young drivers with an intermediate license, a new change means there can be only one unrelated minor passenger in the car for the first six months unless there is adult supervision.
• Iowans who have transferred or sold a car will now have six months to transfer any registration credit remaining on an old vehicle to a new one. Previous law only gave Iowans 30 days.
