Amendment S-3173 to SF 652
Relating to economic development and housing by modifying provisions concerning economic development programs and modifying provisions concerning Iowa’s urban renewal law, and including applicability provisions
Adopted · May 13, 2025Strike everything: replaces the whole bill
Filed May 13, 2025 in the Senate by Sen. Dan Dawson (R)
Amends this SF 652 to CONFORM to HF 1037
What it changes
- By striking everything after the enacting clause and inserting: “Section
- Section 15A.1, subsection 1, paragraph b, Code 2025, is amended to read as follows: b. For purposes of this chapter , “economic development” means private or joint public and private investment involving the creation of new jobs and income or the retention of existing jobs and income that would otherwise be lost or the provision of workforce housing . Sec.
- Section 15A.1, subsection 2, Code 2025, is amended by adding the following new paragraph: NEW PARAGRAPH . e. Development policies that advance the development of workforce housing. Sec.
- Section 403.17, subsection 14, Code 2025, is amended to read as follows:
- “Low or and moderate income families” means those families, including single person households, earning no more than eighty percent of the higher of the median family income of the county or the statewide nonmetropolitan area as determined by the latest United States department of housing and urban development, section 8 income guidelines. Sec.
- Section 403.17, Code 2025, is amended by adding the following new subsection: NEW SUBSECTION . 14A. “Low and moderate income family housing” means housing for low and moderate income families and includes housing that meets the requirements of section 15.353. Sec.
- Section 403.22, subsection 1, Code 2025, is amended by adding the following new paragraph: NEW PARAGRAPH . d. (1) For municipalities of any population size, and notwithstanding any minimum low and moderate income family housing requirement, if the public improvement project is approved on or after July 1, 2025, and is related to housing and residential development in an economic development area containing property that has been located entirely within the corporate limits of a city for twenty years or more, the amount to be provided for low and moderate income family housing for such projects shall not be required to be greater than an amount equal to twenty percent of the original project cost. (2) In addition, notwithstanding subsection 5, the division of the revenue under section 403.19 for each project under this paragraph shall be limited to tax collections for twenty fiscal years beginning with the second fiscal year after the year in which the municipality first certifies to the county auditor the amount of any loans, advances, indebtedness, or bonds which qualify for payment from the division of the revenue in connection with the project.”
- Title page, by striking lines 1 through 4 and inserting “An Act modifying economic development provisions relating to housing and residential development in urban renewal areas.”