Review for 2021 and every fifth year thereafter

(a) The credits, exclusions, and deductions under the income tax and financial institutions tax listed in subsection (c) shall be reviewed in 2021 and every fifth year thereafter. (b) The auditor shall submit the findings and recommendations of the reviews to the legislature and governor at least twenty days prior to the convening of the immediately following regular session. (c) This section shall apply to the following: (1) Section 235-7.3--Exclusion of royalties and other income derived from a patent, copyright, or trade secret of a qualified high technology business; (2) Section 235-9.5--Exclusion for income and proceeds from stock options or stocks of a qualified high technology business or a holding company for a qualified high technology business; (3) Sections 235-17.5 and 241-4.4--Credit for capital infrastructure costs; (4) Sections 235-110.7 and 241-4.5--Credit for capital goods used by a trade or business; (5) Section 235-110.91--Credit for research activity; (6) Section 235-110.3--Credit for ethanol facility; and (7) Section 241-3.5--Deduction for adjusted eligible net income of an international banking facility.