Read the full stored bill text
House
File
1037
-
Introduced
HOUSE
FILE
1037
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
HF
617)
A
BILL
FOR
An
Act
modifying
economic
development
provisions
relating
to
1
housing
and
residential
development
in
urban
renewal
areas.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
1605HV
(2)
91
jm/md
H.F.
1037
Section
1.
Section
15A.1,
subsection
1,
paragraph
b,
Code
1
2025,
is
amended
to
read
as
follows:
2
b.
For
purposes
of
this
chapter
,
“economic
development”
3
means
private
or
joint
public
and
private
investment
involving
4
the
creation
of
new
jobs
and
income
or
the
retention
of
5
existing
jobs
and
income
that
would
otherwise
be
lost
or
the
6
provision
of
workforce
housing
.
7
Sec.
2.
Section
15A.1,
subsection
2,
Code
2025,
is
amended
8
by
adding
the
following
new
paragraph:
9
NEW
PARAGRAPH
.
e.
Development
policies
that
advance
the
10
development
of
workforce
housing.
11
Sec.
3.
Section
403.17,
subsection
14,
Code
2025,
is
amended
12
to
read
as
follows:
13
14.
“Low
or
and
moderate
income
families”
means
those
14
families,
including
single
person
households,
earning
no
15
more
than
eighty
percent
of
the
higher
of
the
median
family
16
income
of
the
county
or
the
statewide
nonmetropolitan
area
as
17
determined
by
the
latest
United
States
department
of
housing
18
and
urban
development,
section
8
income
guidelines.
19
Sec.
4.
Section
403.17,
Code
2025,
is
amended
by
adding
the
20
following
new
subsection:
21
NEW
SUBSECTION
.
14A.
“Low
and
moderate
income
family
22
housing”
means
housing
for
low
and
moderate
income
families
and
23
includes
housing
that
meets
the
requirements
of
section
15.353.
24
Sec.
5.
Section
403.22,
subsection
1,
Code
2025,
is
amended
25
by
adding
the
following
new
paragraph:
26
NEW
PARAGRAPH
.
d.
(1)
For
municipalities
of
any
population
27
size,
and
notwithstanding
any
minimum
low
and
moderate
income
28
family
housing
requirement,
if
the
public
improvement
project
29
is
approved
on
or
after
July
1,
2025,
and
is
related
to
housing
30
and
residential
development
in
an
economic
development
area
31
containing
property
that
has
been
located
entirely
within
the
32
corporate
limits
of
a
city
for
twenty
years
or
more,
the
amount
33
to
be
provided
for
low
and
moderate
income
family
housing
for
34
such
projects
shall
not
be
required
to
be
greater
than
an
35
-1-
LSB
1605HV
(2)
91
jm/md
1/
3
H.F.
1037
amount
equal
to
twenty
percent
of
the
original
project
cost.
1
(2)
In
addition,
notwithstanding
subsection
5,
the
division
2
of
the
revenue
under
section
403.19
for
each
project
under
this
3
paragraph
shall
be
limited
to
tax
collections
for
twenty
fiscal
4
years
beginning
with
the
second
fiscal
year
after
the
year
in
5
which
the
municipality
first
certifies
to
the
county
auditor
6
the
amount
of
any
loans,
advances,
indebtedness,
or
bonds
7
which
qualify
for
payment
from
the
division
of
the
revenue
in
8
connection
with
the
project.
9
EXPLANATION
10
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
11
the
explanation’s
substance
by
the
members
of
the
general
assembly.
12
This
bill
relates
to
economic
development
and
housing
by
13
modifying
provisions
concerning
economic
development
programs
14
and
modifying
provisions
concerning
Iowa’s
urban
renewal
law.
15
The
bill
amends
the
definition
of
“economic
development”
for
16
purposes
of
Code
chapter
15
to
also
include
the
provision
of
17
workforce
housing.
18
The
bill
adds
development
policies
that
advance
the
19
development
of
workforce
housing
to
the
list
of
factors
20
required
to
be
considered
by
the
public
body
before
public
21
funds
are
used
for
grants,
loans,
tax
incentives,
or
other
22
financial
assistance
to
private
persons
or
on
behalf
of
private
23
persons
for
economic
development
under
Code
chapter
15.
24
Under
current
law,
any
urban
renewal
area
established
upon
25
the
determination
that
the
area
is
an
economic
development
26
area,
a
division
of
revenue
(tax
increment
financing)
shall
27
not
be
allowed
for
the
purpose
of
providing
or
aiding
in
28
the
provision
of
public
improvements
related
to
housing
and
29
residential
development,
unless
the
municipality
assures
that
30
the
project
will
include
assistance
for
low
and
moderate
income
31
family
housing,
subject
to
certain
municipality
population
32
thresholds.
33
Under
the
bill,
for
municipalities
of
any
population
size,
34
and
notwithstanding
any
minimum
low
and
moderate
income
family
35
-2-
LSB
1605HV
(2)
91
jm/md
2/
3
H.F.
1037
housing
requirement,
if
the
public
improvement
project
is
1
approved
on
or
after
July
1,
2025,
and
is
related
to
housing
2
and
residential
development
in
an
economic
development
area
3
containing
property
that
has
been
located
entirely
within
the
4
corporate
limits
of
a
city
for
20
years
or
more,
the
amount
to
5
be
provided
for
low
and
moderate
income
family
housing
for
such
6
projects
shall
not
be
required
to
be
greater
than
an
amount
7
equal
to
20
percent
of
the
original
project
cost.
The
bill
8
also
extends
the
division
of
the
revenue
for
such
projects
to
9
tax
collections
for
20
fiscal
years
instead
of
the
current
law
10
maximum
of
10
years.
11
The
bill
also
defines
“low
and
moderate
income
family
12
housing”
for
Code
chapter
403
to
mean
housing
for
low
13
and
moderate
income
families
and
housing
that
meets
the
14
requirements
of
Code
section
15.353
(workforce
housing).
15
The
bill
also
modifies
the
defined
term
“low
or
moderate
16
income
families”
in
Code
chapter
403
to
“low
and
moderate
17
income
families”
to
align
with
the
terminology
usage
within
the
18
Code
chapter.
19
-3-
LSB
1605HV
(2)
91
jm/md
3/
3