The Iowa Senate yesterday approved a bill to repeal the current local option sales tax and replace it with a statewide sales tax to support school infrastructure and provide property tax relief. The measure passed by a vote of 34-15. The Iowa House of Representatives approved the same bill by a vote of 59-41 on April 9. The legislation, HF 2663, will now go to Gov. Chet Culver. Polk County voters approved a local option sales tax in 1999. To date, more than $180 million in school renovation and construction has taken place in the Des Moines school district. When the tax expires in 2010, 30 school buildings will have benefited from the current local option sales tax; more than two dozen schools, attended by nearly 12,000 students, will not have undergone renovations paid for by local option sales tax revenues.

Meta Financial Group Inc. reported yesterday that the Nasdaq Hearings Panel has granted the company an extension until June 6 to file its quarterly report on Form 10-Q for the quarters ended Dec. 31, 2007, and March 31, 2008. The decision has the effect of allowing Meta Financial Group’s continued listing on the Nasdaq Global Market.

Heartland Express Inc. yesterday announced financial results for the quarter ended March 31. Operating revenues for the quarter increased 3.9 percent to $149 million from $143.4 million in the first quarter of 2007. Net income decreased 35 percent to $14.7 million from $22.6 million in the 2007 period. Earnings fell to 15 cents per share compared with 23 cents per share for the first quarter of 2007. Operating income decreased by approximately $5.1 million, or 3 cents per share, due to continued increases in fuel costs and a decline in gains on disposals of property and equipment.

The following Iowa-based companies will announce earnings on Thursday: EMC Insurance Group Inc. (first-quarter earnings call at 10 a.m. at (877) 407-8031) and Rockwell Collins Inc. (second-quarter earnings webcast at noon, available at www.rockwellcollins.com).

According to the Mortgage Bankers Association’s (MBA) weekly application survey, mortgage application volume fell 14.2 percent during the week ended April 18, the Associated Press reported. The MBA’s application index fell to 637.6 from 743.4 the previous week. Refinance volume fell 20.2 percent, while purchase volume declined 6.4 percent.

The 50th Art Directors Association of Iowa Exhibition will be held at the John and Mary Pappajohn Education Center at 1200 Grand Ave. on Saturday at 6 p.m. The cost to attend is $25 for members and $35 for nonmembers. For more information, visit www.artdirectorsiowa.org.