HSB 521

Where it is now

1. ✓
   Done: IntroducedJanuary 11, 2022
2. ✓
   Done: SubcommitteeJanuary 11, 2022
3. ✓
   Done: House committeeJanuary 20, 2022
4. –
   Skipped: Passes the HouseContinued as HF 2082
5. Next: Senate committee
6. Next: Passes the Senate
7. Next: To the Governor
8. Next: Signed into law

Became HF 2082 → Its progress continues under the new number. Go to HF 2082 What’s a funnel?

What’s in it

Code section 403.19 authorizes municipalities to provide H.F. _____ by ordinance for the division of property tax revenue (tax increment financing) collected against property located within an urban renewal area. This bill provides that for property taxes due and payable in fiscal years beginning on or after July 1, 2023, if the urban renewal area contains wind energy conversion property that is subject to special valuation under Code section 427B.26, foundation property taxes of a school district imposed under Code section 257.3 shall not be subject to the division of property tax revenue and shall instead be paid to the school district.

Full bill text¹

House subcommittee

Named January 11, 2022. On January 19, 2022 it recommended passage. Vote Total: 2-0.

• Rep. Dustin D. Hite R
• Rep. Eric Gjerde DEmail
• Rep. Chad Ingels REmail

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

Fiscal note

7 million for FY 2024 and will reduce TIF increment revenue available to counties by the same amount. The appropriation and county revenue reductions are expected to increase in years after FY 2024. 40 basic levy to offset the reduction in annual State school aid payments. 40 levy negatively impacts the repayment of existing county bonds will depend on the financial situation of each impacted county.

• Tax Increment Financing Districts, Wind Turbines · February 18, 2022

Reading a fiscal note²

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