The bill required the Department of Management, in consultation with the Department of Revenue, to initiate and coordinate the establishment of a task force. It was the intent of the General Assembly that the task force include representatives of the Department of Management, Department of Revenue, electric companies, natural gas companies, municipal utilities, electric cooperatives, counties, cities, school boards, and industrial, commercial, and residential consumer, and other appropriate stakeholders.
The purpose of the Replacement Tax Task Force is to study the effect of the Replacement Tax on local taxing districts, consumers, and taxpayers. If the Task Force recommendations for modifications to the Replacement Tax that will further the purposes of tax neutrality for local taxing authorities, local taxing districts, taxpayers, and consumers, the Department of Management is tasked with transmitting those recommendations to the General Assembly.
For more information on the Replacement Tax, see Iowa Code Chapter 437A and Iowa Administrative Code 701-101.