HF 131: Relating to the redevelopment tax credit program, the nuisance property remediation assistance fund, and assistance for communities to address abandoned buildings

What it does

This bill relates to the redevelopment tax credit program, the nuisance property remediation assistance fund, and assistance for communities to address abandoned buildings. Under current law, a redevelopment tax credit may be granted in an amount of percent of a taxpayer’s qualifying investment in a grayfield site, or percent of a taxpayer’s qualifying investment in a grayfield site if the qualifying redevelopment project meets the requirements of a green development. Under the bill, a grayfield site of more than 50,000 square feet that is located in a community with a population of less than 30,000 may be awarded a redevelopment tax credit for a term of two years at the discretion of the board of the Iowa economic development authority (IEDA).

House subcommittee · named February 20, 2025

• Rep. Derek Wulf (R) · derek.wulf@legis.iowa.gov
• Rep. Chad Behn (R) · chad.behn@legis.iowa.gov
• Rep. Elizabeth Wilson (D) · elizabeth.wilson@legis.iowa.gov

Lobbying · 2 for, 0 against

For: Professional Developers of Iowa (PDI); Quad Cities Chamber of Commerce

In plain words

1. January 27, 2025Filed in the House and sent to the Ways and Means committee
2. February 20, 2025House subcommittee named: Wulf, Behn and Wilson
3. March 19, 2025Subcommittee recommended passing it