---
type: "Bill"
title: "A bill for an act creating a state corporate income tax deduction for net controlled foreign corporation tested income, and including retroactive applicability provisions."
description: "A bill for an act creating a state corporate income tax deduction for net controlled foreign corporation tested income, and including retroactive applicability provisions."
jurisdiction: "us/states/ia"
legislature: "Iowa General Assembly"
session: "2025-2026"
identifier: "SF 2492"
citation: "Iowa SF 2492 (2025-2026)"
classification: ["bill"]
subjects: ["corporate taxes", "foreign businesses", "income", "income taxes", "internal revenue code"]
status: "enacted"
primary_sponsors: []
version_count: 4
action_count: 20
vote_count: 1
first_action: "2026-04-15"
last_action: "2026-05-15"
source: "openstates"
source_identifier: "ocd-bill/41188fba-ba3e-4f52-8e1a-cd01caa95632"
source_url: "https://www.legis.iowa.gov/legislation/billTracking/billHistory?billName=SF 2492&ga=91"
source_hash: "1e1401ed6c55b6b06e6f19d1c20599a49960b5a4736a765f29c340578c24e670"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ia"]
---

# Iowa SF 2492 (2025-2026) — A bill for an act creating a state corporate income tax deduction for net controlled foreign corporation tested income, and including retroactive applicability provisions.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SF2492.html)
2. **Enrolled with Governor's Action** (committee substitute) — [source](https://www.legis.iowa.gov/docs/publications/LGEG/91/attachments/SF2492.html)
3. **Signed Enrolled Bill (PDF)** (committee substitute) — [source](https://www.legis.iowa.gov/docs/publications/LGE/91/Attachments/SF2492_GovLetter.pdf)
4. **Enrolled** (enrolled) — [source](https://www.legis.iowa.gov/docs/publications/LGE/91/attachments/SF2492.html)

## Votes

- Shall the bill pass? — **46–0** (pass) · upper

## Sponsors

- COMMITTEE ON WAYS AND MEANS — primary (organization)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2026-04-15** Introduced, placed on Ways and Means calendar. `introduction`
- **2026-04-15** Committee report, approving bill. `committee-passage`
- **2026-04-20** Fiscal note.
- **2026-04-27** Passed Senate, yeas 46, nays 0. `passage`
- **2026-04-27** Immediate message.
- **2026-04-27** Message from Senate.
- **2026-04-28** Read first time, referred to Ways and Means. `reading-1`
- **2026-04-29** Subcommittee: Behn, Kurth and Siegrist.
- **2026-04-29** Subcommittee Meeting: 04/30/2026 8:30AM RM 102.
- **2026-04-30** Subcommittee recommends passage. `committee-passage-favorable`
- **2026-05-01** Committee report, recommending passage. `committee-passage`
- **2026-05-01** Committee vote: Yeas, 24. Nays, 0. Excused, 1.
- **2026-05-01** Placed on Ways and Means calendar.
- **2026-05-02** Passed House, yeas 85, nays 0. `passage`
- **2026-05-02** Explanations of votes.
- **2026-05-02** Immediate message.
- **2026-05-02** Message from House.
- **2026-05-11** Reported correctly enrolled, signed by President and Speaker, and sent to Governor.
- **2026-05-14** Fiscal note.
- **2026-05-15** Signed by Governor. `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/41188fba-ba3e-4f52-8e1a-cd01caa95632`. Confidence: reported (aggregated from official Iowa legislature records).