Relating to Iowa’s urban renewal law and urban revitalization law by establishing provisions governing certain property used for gaming, and including effective date, applicability, and retroactive applicability provisions

This bill relates to Iowa’s urban renewal and urban revitalization laws. The bill prohibits an urban renewal plan adopted before, on, or after the effective date of the bill, to include an urban renewal project related to property owned and operated by a licensee under Code chapter 99F (gambling games and sports wagering) first issued a license on or after January 1, 2025, or other specified property that directly benefits such a licensee. The bill excludes from the division of revenue (tax increment financing) taxes levied against property owned and operated by a licensee under Code chapter 99F first issued a license on or after January 1, 2025, or upon property that directly benefits such a licensee. The bill excludes tax exemptions for urban revitalization for property owned and operated by a licensee under Code chapter 99F first issued a license on or after January 1, 2025, or property that directly benefits such a licensee, and prohibits such property from being included in an urban revitalization area. The bill excludes the funding of urban renewal projects with local option taxes for property owned and operated by a licensee under Code chapter 99F first issued a license on or after January 1, 2025, or property that directly benefits such a licensee. The bill takes effect upon enactment. The bill applies retroactively to assessment years beginning on or after January 1, 2025, for prohibitions on urban revitalization tax exemptions.19 applies to property tax due and payable in fiscal years beginning on or after July 1, 2025.