A bill for an act relating to Iowa’s urban renewal law by modifying the division of revenue, and including applicability provisions.(Formerly HF 92 .)

House

File

2777

-

Introduced

HOUSE

FILE

2777

BY

COMMITTEE

ON

WAYS

AND

MEANS

(SUCCESSOR

TO

HF

92)

A

BILL

FOR

An

Act

relating

to

Iowa’s

urban

renewal

law

by

modifying

the

1

division

of

revenue,

and

including

applicability

provisions.

2

BE

IT

ENACTED

BY

THE

GENERAL

ASSEMBLY

OF

THE

STATE

OF

IOWA:

3

TLSB

1232HV

(2)

91

ms/md

H.F.

2777

Section

1.

Section

403.19,

subsection

2,

paragraph

a,

Code

1

2025,

is

amended

to

read

as

follows:

2

a.

That

portion

of

the

taxes

each

year

in

excess

of

such

3

amount

shall

be

allocated

to

and

when

collected

be

paid

into

a

4

special

fund

of

the

municipality

to

pay

the

principal

of

and

5

interest

on

loans,

moneys

advanced

to,

or

indebtedness,

whether

6

funded,

refunded,

assumed,

or

otherwise,

including

bonds

7

issued

under

the

authority

of

section

403.9,

subsection

1

,

8

incurred

by

the

municipality

to

finance

or

refinance,

in

whole

9

or

in

part,

an

urban

renewal

project

within

the

area,

and

to

10

provide

assistance

for

low

and

moderate

income

family

housing

11

as

provided

in

section

403.22

.

However,

except

as

provided

12

in

paragraph

“b”

,

taxes

for

the

regular

and

voter-approved

13

physical

plant

and

equipment

levy

of

a

school

district

imposed

14

pursuant

to

section

298.2

and

taxes

for

the

instructional

15

support

program

of

a

school

district

imposed

pursuant

to

16

section

257.19

,

taxes

for

the

payment

of

bonds

and

interest

17

of

each

taxing

district,

taxes

for

emergency

medical

services

18

imposed

pursuant

to

chapter

357F,

357G,

or

422D,

and

taxes

19

imposed

under

section

346.27,

subsection

22

,

related

to

joint

20

county-city

buildings

shall

be

collected

against

all

taxable

21

property

within

the

taxing

district

without

limitation

by

the

22

provisions

of

this

subsection

.

23

Sec.

2.

APPLICABILITY.

This

Act

applies

to

property

taxes

24

due

and

payable

in

fiscal

years

beginning

on

or

after

July

1,

25

2027.

26

EXPLANATION

27

The

inclusion

of

this

explanation

does

not

constitute

agreement

with

28

the

explanation’s

substance

by

the

members

of

the

general

assembly.

29

This

bill

excludes

property

taxes

for

emergency

medical

30

services

imposed

pursuant

to

Code

chapter

357F,

357G,

or

422D

31

from

a

division

of

revenue

(tax

increment

financing)

under

Code

32

section

403.19.

33

The

bill

applies

to

property

taxes

due

and

payable

in

fiscal

34

years

beginning

on

or

after

July

1,

2027.

35

-1-

LSB

1232HV

(2)

91

ms/md

1/

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