The Iowa Legislature adjourned the 2024 session in the early morning hours April 20 after working through the night to pass the state budget and several policy bills.

Among the bills passed prior to the end of the session was a Farm Bureau-supported bill to reinstate the capital gains deduction on the sale of breeding livestock. The bill is retroactive to tax year 2023.

The budget agreement includes several key property taxpayer protections, including maintaining funding levels for the Homestead Tax Credit and Ag Land and Family Farm Tax Credit, as well as...