Bills › 88th General Assembly
Requiring that a certain percentage of the tax incentives administered by the economic development authority be provided to projects located in small cities, and including applicability provisions
Where it is now
- Done: IntroducedFebruary 21, 2019
- Done: SubcommitteeFebruary 27, 2019
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill relates to tax credits administered by the economic development authority (authority). Under the program, the authority provides various tax incentives to eligible businesses that complete projects in Iowa. The bill requires that at least percent of the tax incentives awarded by the authority each fiscal year shall be allocated for projects located in a small city based upon certain criteria. The criteria for purposes of allocation of projects in a small city shall include the following: an accredited public or private postsecondary educational institution, a federal highway or divided, multilaned highway, and sufficient housing to accommodate the project.
Read the full explanation
The bill defines “small city” to mean any city located in this state with a population of less than 15,000. If a small city is located in more than one county, it is considered to be located in the county having the greatest taxable base within the city. In the event this small city percentage is not satisfied in a given fiscal year, a shortfall is declared to exist, and the percentage of tax incentives awarded to projects in a small city in the succeeding fiscal year shall be adjusted to equal an amount necessary to reach the percent requirement for that fiscal year, plus an amount equal to the shortfall for the prior fiscal year or years. The bill applies to fiscal years beginning on or after the effective date of the bill.
House subcommittee
Named February 27, 2019. On March 4, 2019 it recommended amendment and passage.
- Rep. Holly Brink R
- Rep. Gaskill
- Rep. Daniel Adair Huseman R
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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88th General Assembly