Bills › 88th General Assembly

SF 2247Died when the session ended · February 12, 2020

Relating to awarding historic preservation tax credits to rehabilitate vacant school buildings or other public buildings into child care facilities

Topics:TaxesChild careTax credits & incentives

Where it is now

  1. Done: IntroducedFebruary 12, 2020
  2. Done: SubcommitteeFebruary 18, 2020
  3. Stopped: Senate committeeDied when the General Assembly ended
  4. Next: Passes the Senate
  5. Next: House committee
  6. Next: Passes the House
  7. Next: To the Governor
  8. 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

1. Under the bill, a project is eligible for historical preservation tax credits under Code chapter 404A if the project is for the rehabilitation of a vacant school building or other public building into a child care facility, and meets the physical criteria and standards for rehabilitation established by the department of cultural affairs by rule. The bill specifies that a building qualifies as a vacant building if the building is scheduled to become vacant within one year of the date of the application for historic preservation tax credits.

Read the full explanation

Currently, historic preservation tax credits awards shall not exceed $45 million in any one fiscal year under most circumstances. Of the aggregate amount of historic preservation tax credits eligible to be awarded in any one fiscal year, the bill requires that percent of the aggregate amount of such tax credits shall be allocated for purposes of qualified rehabilitation projects to rehabilitate vacant school buildings or other public buildings into child care facilities. If by March of a fiscal year the entire percent of the tax credits is not awarded, the remaining tax credits shall be available to any other eligible applicants.

Full bill text1

Senate subcommittee

Named February 18, 2020. It hasn’t reported yet.

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

Iowa Code it changes

Amends§404A.1§404A.4

How the Code works2

Lobbying

0 for · 0 against · 9 undecided · Who →