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Senate
File
139
-
Introduced
SENATE
FILE
139
BY
LOFGREN
A
BILL
FOR
An
Act
relating
to
the
redevelopment
tax
credit
program,
1
the
nuisance
property
remediation
assistance
fund,
and
2
assistance
for
communities
to
address
abandoned
buildings.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
15.293A,
Code
2025,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
3A.
Subject
to
subsection
3,
paragraphs
“a”
3
and
“b”
,
a
grayfield
site
of
more
than
fifty
thousand
square
4
feet
that
is
located
in
a
community
with
a
population
of
less
5
than
thirty
thousand
may
be
awarded
a
redevelopment
tax
credit
6
under
this
section
for
a
term
of
two
years
at
the
discretion
of
7
the
board.
8
Sec.
2.
NEW
SECTION
.
15.339
Nuisance
property
——
greater
9
than
fifty
thousand
square
feet.
10
1.
Subject
to
section
15.338,
the
authority
may
use
moneys
11
in
the
nuisance
property
remediation
fund
established
in
12
section
15.338,
subsection
1,
to
provide
financial
assistance
13
not
to
exceed
five
hundred
thousand
dollars
to
cities
for
the
14
remediation
of
nuisance
properties,
abandoned
buildings,
and
15
other
structures
of
fifty
thousand
square
feet
or
more.
16
2.
Financial
assistance
provided
pursuant
to
this
section
17
may
include
loans
or
forgivable
loans
and
shall
be
for
a
18
minimum
term
of
one
hundred
twenty
months
and
a
maximum
term
19
of
one
hundred
eighty
months.
20
3.
Twenty-five
percent
of
the
loan
or
forgivable
loan
21
shall
be
forgiven
upon
successful
remediation
of
the
nuisance
22
property,
abandoned
building,
or
other
structure.
More
23
than
twenty-five
percent
of
the
loan
or
forgivable
loan
may
24
be
forgiven
at
the
discretion
of
the
director.
Successful
25
remediation
shall
be
determined
by
the
size
of
the
remediation
26
project,
the
beginning
condition
of
the
nuisance
property,
27
abandoned
building,
or
other
structure,
and
if
there
has
a
28
been
a
meaningful
change
to
the
nuisance
property,
abandoned
29
building,
or
other
structure,
including
but
not
limited
to
the
30
following:
31
a.
The
nuisance
property,
abandoned
building,
or
other
32
structure
has
been
cleared
or
cleaned.
33
b.
The
nuisance
property,
abandoned
building,
or
other
34
structure
is
for
sale.
35
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139
c.
The
nuisance
property,
abandoned
building,
or
other
1
structure
has
a
proposed
reuse
plan.
2
d.
The
nuisance
property,
abandoned
building,
or
other
3
structure
has
been
repurposed,
including
but
not
limited
to
4
repurposed
for
use
as
a
park,
housing,
or
a
business.
5
Sec.
3.
Section
455E.11,
subsection
2,
paragraph
a,
6
subparagraph
(1),
subparagraph
division
(d),
Code
2025,
is
7
amended
to
read
as
follows:
8
(d)
Not
more
than
four
hundred
thousand
dollars
to
the
9
department
for
purposes
of
providing
funding
assistance
10
to
eligible
communities
to
address
abandoned
buildings
by
11
promoting
waste
abatement,
diversion,
selective
dismantlement
12
of
building
components,
and
recycling.
Eligible
communities
13
include
a
city
with
a
population
of
five
thousand
or
fewer.
14
Eligible
communities
also
include
a
city
with
a
population
15
between
five
thousand
and
thirty
thousand,
for
which
the
16
department
may
provide
funding
assistance
in
an
amount
equal
17
to
ten
dollars
per
square
foot
of
an
abandoned
building,
not
18
to
exceed
one
million
dollars.
An
application
for
funding
19
assistance
may
be
submitted
by
any
county
or
municipal
20
government
that
meets
the
population
requirements
of
an
21
eligible
community,
and
the
abandoned
building
that
is
the
22
subject
of
such
application
may
be
owned
by
any
person.
23
Eligible
costs
for
program
assistance
include
but
are
not
24
limited
to
asbestos
and
other
hazardous
material
abatement
and
25
removal,
the
recovery
processing
of
recyclable
or
reusable
26
material
through
the
selective
dismantlement
of
abandoned
27
buildings,
and
reimbursement
for
purchased
recycled
content
28
materials
used
in
the
renovation
of
buildings.
29
EXPLANATION
30
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
31
the
explanation’s
substance
by
the
members
of
the
general
assembly.
32
This
bill
relates
to
the
redevelopment
tax
credit
program,
33
the
nuisance
property
remediation
assistance
fund,
and
34
assistance
for
communities
to
address
abandoned
buildings.
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139
Under
current
law,
a
redevelopment
tax
credit
may
be
1
granted
in
an
amount
of
12
percent
of
a
taxpayer’s
qualifying
2
investment
in
a
grayfield
site,
or
15
percent
of
a
taxpayer’s
3
qualifying
investment
in
a
grayfield
site
if
the
qualifying
4
redevelopment
project
meets
the
requirements
of
a
green
5
development.
Under
the
bill,
a
grayfield
site
of
more
than
6
50,000
square
feet
that
is
located
in
a
community
with
a
7
population
of
less
than
30,000
may
be
awarded
a
redevelopment
8
tax
credit
for
a
term
of
two
years
at
the
discretion
of
the
9
board
of
the
Iowa
economic
development
authority
(IEDA).
10
Under
the
bill,
the
IEDA
may
use
moneys
in
the
nuisance
11
property
remediation
assistance
fund
to
provide
financial
12
assistance,
not
to
exceed
$500,000,
to
cities
for
the
13
remediation
of
nuisance
properties,
abandoned
buildings,
and
14
other
structures
of
50,000
square
feet.
Financial
assistance
15
may
include
loans
or
forgivable
loans
with
a
minimum
term
of
16
120
months
and
a
maximum
term
of
180
months.
Twenty-five
17
percent
of
the
loan
or
forgivable
loan
shall
be
forgiven
18
upon
successful
remediation
of
the
nuisance
property.
More
19
than
25
percent
may
be
forgiven
at
the
discretion
of
the
20
director.
Successful
remediation
is
determined
by
the
size
21
of
the
remediation
project,
the
beginning
condition
of
the
22
nuisance
property,
and
if
there
has
been
a
meaningful
change
to
23
the
nuisance
property,
such
as
the
nuisance
property
has
been
24
cleared
or
cleaned,
is
for
sale,
has
a
proposed
reuse
plan,
has
25
been
repurposed,
or
any
other
meaningful
change.
26
Under
current
law,
the
groundwater
protection
fund
includes
27
a
solid
waste
account
of
which
not
more
than
$400,000
shall
28
be
allocated
to
the
department
of
natural
resources
(DNR)
29
for
purposes
of
providing
funding
assistance
to
eligible
30
communities
to
address
abandoned
buildings
by
promoting
waste
31
abatement,
diversion,
selective
dismantlement
of
building
32
components,
and
recycling.
Under
current
law,
eligible
33
communities
for
funding
assistance
include
a
city
with
a
34
population
of
5,000
or
fewer.
Under
the
bill,
eligible
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S.F.
139
communities
also
include
a
city
with
a
population
between
1
5,000
and
30,000,
for
which
the
DNR
may
provide
funding
2
assistance
in
an
amount
equal
to
$10
per
square
foot
of
the
3
abandoned
building,
not
to
exceed
$1
million.
Under
the
bill,
4
an
application
for
funding
assistance
may
be
submitted
by
5
any
county
or
municipal
government
that
meets
the
population
6
requirements
of
an
eligible
community,
and
the
abandoned
7
building
that
is
the
subject
of
such
application
may
be
owned
8
by
any
person.
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