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Senate
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465
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Introduced
SENATE
FILE
465
BY
COMMITTEE
ON
STATE
GOVERNMENT
(SUCCESSOR
TO
SSB
1106)
A
BILL
FOR
An
Act
relating
to
matters
under
the
purview
of
the
1
economic
development
authority
and
the
Iowa
finance
2
authority
including
the
strategic
infrastructure
program,
3
brownfield,
grayfield,
and
redevelopment
tax
credits,
4
community
attraction
and
tourism,
vision
Iowa,
sports
5
tourism
marketing,
the
historic
preservation
tax
credit,
6
homelessness,
the
title
guaranty
board,
and
arts
and
7
culture,
and
including
applicability
and
retroactive
8
applicability
provisions.
9
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
10
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465
DIVISION
I
1
STRATEGIC
INFRASTRUCTURE
PROGRAM
2
Section
1.
Section
15.117A,
subsection
6,
paragraph
c,
Code
3
2025,
is
amended
by
striking
the
paragraph.
4
Sec.
2.
Section
15.313,
subsection
3,
unnumbered
paragraph
5
1,
Code
2025,
is
amended
to
read
as
follows:
6
The
Iowa
innovation
council
A
committee
appointed
pursuant
7
to
section
15.117A,
subsection
7,
shall
review
each
application
8
received
by
the
economic
development
authority
for
financial
9
assistance
under
the
program
and
shall
make
recommendations
to
10
the
board
regarding
all
of
the
following:
11
DIVISION
II
12
BROWNFIELDS,
GRAYFIELDS,
AND
REDEVELOPMENT
TAX
CREDITS
13
Sec.
3.
Section
15.291,
subsections
3
and
11,
Code
2025,
are
14
amended
by
striking
the
subsections.
15
Sec.
4.
Section
15.293A,
subsection
3,
unnumbered
paragraph
16
1,
Code
2025,
is
amended
to
read
as
follows:
17
The
amount
of
the
tax
credit
shall
be
determined
by
the
board
18
in
conjunction
with
the
council.
However,
the
tax
credit
and
19
shall
not
exceed
the
following
amount,
as
applicable:
20
Sec.
5.
Section
15.293B,
subsection
1,
paragraphs
b,
d,
and
21
h,
Code
2025,
are
amended
to
read
as
follows:
22
b.
The
authority
shall
accept
and
,
in
conjunction
with
23
the
council,
review
applications
for
tax
credits
provided
in
24
section
15.293A
and
,
with
the
approval
of
the
council,
make
tax
25
credit
award
recommendations
regarding
the
applications
to
the
26
board.
The
authority
may
engage
outside
experts
to
complete
a
27
technical,
financial,
or
other
review.
28
d.
Upon
review
of
an
application,
the
authority
may
29
register
the
project
with
the
redevelopment
tax
credits
30
program.
If
the
authority
registers
the
project,
the
authority
31
may
,
in
conjunction
with
the
council,
make
a
preliminary
32
determination
as
to
the
amount
of
tax
credit
for
which
an
award
33
recommendation
will
be
made
to
the
board.
34
h.
If
the
applicant
for
a
tax
credit
provided
in
section
35
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15.293A
has
also
applied
to
an
agency
of
the
federal
government
1
or
to
the
authority,
the
board,
or
any
other
agency
of
state
2
government
for
additional
financial
assistance,
the
authority
,
3
the
council,
and
the
board
shall
consider
the
amount
of
funding
4
to
be
received
from
such
public
sources
when
making
a
tax
5
credit
award
pursuant
to
this
section
.
6
Sec.
6.
Section
15.293B,
subsection
1,
paragraph
f,
7
subparagraph
(1),
Code
2025,
is
amended
to
read
as
follows:
8
(1)
All
completed
applications
shall
be
reviewed
and
scored
9
on
a
competitive
basis
by
the
council
and
the
board
authority
.
10
In
reviewing
and
scoring
applications,
the
council
and
the
11
board
authority
may
consider
any
factors
the
council
and
board
12
deem
authority
deems
appropriate
for
a
competitive
application
13
process,
including
but
not
limited
to
the
financial
need,
14
quality,
and
feasibility
of
a
qualifying
redevelopment
project.
15
Sec.
7.
Section
15.293B,
subsection
2,
paragraph
c,
Code
16
2025,
is
amended
to
read
as
follows:
17
c.
Any
other
information
deemed
necessary
by
the
board
18
and
the
council
authority
to
review
and
score
the
application
19
pursuant
to
subsection
1
.
20
Sec.
8.
Section
15.293B,
subsections
4
and
5,
Code
2025,
are
21
amended
to
read
as
follows:
22
4.
A
registered
project
shall
be
completed
within
thirty
23
months
of
the
date
the
project
was
registered
unless
the
24
authority,
upon
recommendation
of
the
council
and
with
the
25
approval
of
the
board,
provides
additional
time
to
complete
the
26
project.
If
the
registered
project
is
not
completed
within
27
the
time
required,
the
project
is
not
eligible
to
claim
a
28
redevelopment
tax
credit
provided
in
section
15.293A
.
29
5.
a.
The
investor
shall
engage
a
certified
public
30
accountant
authorized
to
practice
in
this
state
to
conduct
an
31
examination
of
the
project
in
accordance
with
the
American
32
institute
of
certified
public
accountants’
statements
on
33
standards
for
attestation
engagements.
Upon
completion
of
a
34
registered
project,
an
audit
of
the
project,
completed
by
an
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465
independent
certified
public
accountant
licensed
in
this
state,
1
the
examination,
along
with
a
statement
of
the
amount
of
final
2
qualifying
investment,
shall
be
submitted
to
the
authority.
3
b.
Upon
review
of
the
audit
and
verification
of
the
amount
4
of
the
qualifying
investment,
examination
and
statement
5
submitted
pursuant
to
paragraph
“a”
,
the
authority
may
issue
a
6
tax
credit
certificate
to
the
investor
stating
the
amount
of
7
tax
credit
under
section
15.293A
the
investor
may
claim.
8
Sec.
9.
REPEAL.
Sections
15.292,
15.293,
15.294,
and
9
15.295,
Code
2025,
are
repealed.
10
Sec.
10.
TRANSFER
OF
MONEYS.
On
the
effective
date
of
this
11
division
of
this
Act,
any
unencumbered
or
unobligated
moneys
12
remaining
in
the
brownfield
redevelopment
fund
created
in
13
section
15.293
are
transferred
to
a
fund
or
funds
established
14
pursuant
to
section
15.335B,
subsection
1,
paragraph
“a”,
as
15
determined
by
the
economic
development
authority.
16
DIVISION
III
17
COMMUNITY
ATTRACTION
AND
TOURISM,
AND
VISION
IOWA
——
REQUIRED
18
BENEFITS
19
Sec.
11.
REPEAL.
Section
15F.106,
Code
2025,
is
repealed.
20
Sec.
12.
APPLICABILITY.
This
division
of
this
Act
applies
21
to
an
applicant
awarded
financial
assistance
under
both
the
22
vision
Iowa
program
established
in
section
15F.302,
and
the
23
community
attraction
and
tourism
program
established
in
section
24
15F.202,
on
or
after
the
effective
date
of
this
division
of
25
this
Act.
26
Sec.
13.
RETROACTIVE
APPLICABILITY.
This
division
of
this
27
Act
applies
retroactively
to
an
applicant
awarded
financial
28
assistance
under
both
the
vision
Iowa
program
established
in
29
section
15F.302,
and
the
community
attraction
and
tourism
30
program
established
in
section
15F.202,
prior
to
the
effective
31
date
of
this
division
of
this
Act.
32
DIVISION
IV
33
COMMUNITY
ATTRACTION
AND
TOURISM
PROGRAM,
AND
SPORTS
TOURISM
34
MARKETING
AND
INFRASTRUCTURE
PROGRAM
——
APPLICATION
REVIEW
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465
Sec.
14.
Section
15F.203,
subsection
2,
Code
2025,
is
1
amended
to
read
as
follows:
2
2.
A
The
director
of
the
authority
shall
appoint
a
review
3
committee
composed
of
five
members
of
the
board
shall
with
4
relevant
expertise
to
review
community
attraction
and
tourism
5
program
applications
forwarded
to
the
board
and
.
The
review
6
committee
shall
make
recommendations
regarding
the
applications
7
to
the
board.
8
Sec.
15.
Section
15F.402,
subsection
2,
Code
2025,
is
9
amended
to
read
as
follows:
10
2.
A
The
director
of
the
authority
shall
appoint
a
review
11
committee
composed
of
five
members
of
the
board
shall
with
12
relevant
expertise
to
review
sports
tourism
marketing
and
13
infrastructure
program
applications
forwarded
to
the
board
and
.
14
The
review
committee
shall
make
recommendations
regarding
the
15
applications
to
the
authority.
16
DIVISION
V
17
HISTORIC
PRESERVATION
TAX
CREDIT
18
Sec.
16.
Section
404A.1,
subsection
2,
Code
2025,
is
amended
19
by
striking
the
subsection.
20
Sec.
17.
Section
404A.1,
subsection
7,
Code
2025,
is
amended
21
by
adding
the
following
new
paragraph:
22
NEW
PARAGRAPH
.
d.
The
property
is
not
a
single-family
23
dwelling
unit,
unless
the
project
will
result
in
two
or
more
24
new
single-family
dwelling
units
that
were
not
available
25
for
occupancy
as
residential
housing
during
the
immediately
26
preceding
consecutive
six
months
prior
to
commencement
of
27
the
project,
and
the
dwelling
units
are
located
in
the
same
28
neighborhood,
as
confirmed
by
the
authority.
The
two
or
more
29
new
single-family
dwelling
units
must
be
made
available
for
30
occupancy
as
a
result
of
the
rehabilitation
project.
The
31
authority
may
promulgate
by
rule
criteria
used
by
the
authority
32
to
determine
if
a
property
is
a
single-family
dwelling
unit,
33
and
qualifies
as
a
qualified
rehabilitation
project
under
this
34
paragraph.
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Sec.
18.
Section
404A.1,
Code
2025,
is
amended
by
adding
the
1
following
new
subsection:
2
NEW
SUBSECTION
.
8.
“Registration
date”
means
the
date
on
3
which
the
authority
notifies
an
eligible
taxpayer
of
successful
4
registration
of
the
taxpayer’s
qualified
rehabilitation
project
5
pursuant
to
section
404A.3,
subsection
2.
6
Sec.
19.
Section
404A.3,
subsection
3,
paragraph
b,
7
subparagraphs
(4)
and
(5),
Code
2025,
are
amended
to
read
as
8
follows:
9
(4)
The
commencement
date
of
by
which
the
qualified
10
rehabilitation
project
must
commence
,
which
shall
not
be
no
11
later
than
the
end
of
the
fiscal
year
in
which
the
agreement
12
is
entered
into
one
calendar
year
from
the
registration
date
.
13
Upon
application
of
the
eligible
taxpayer,
the
authority
may,
14
at
the
discretion
of
the
authority,
extend
the
date
by
which
15
the
qualified
rehabilitation
project
must
commence
up
to
an
16
additional
twelve
consecutive
months.
17
(5)
(a)
The
completion
date
of
by
which
the
qualified
18
rehabilitation
project
,
which
shall
be
within
thirty-six
19
months
of
the
commencement
date
must
be
completed,
which
shall
20
be
no
later
than
three
consecutive
calendar
years
from
the
21
registration
date
.
The
qualified
rehabilitation
project
shall
22
be
considered
complete
as
of
the
date
the
property
that
is
the
23
subject
of
the
qualified
rehabilitation
project
is
placed
in
24
service,
as
described
in
26
U.S.C.
§47.
25
(b)
Upon
application
of
the
eligible
taxpayer,
the
26
authority
may,
at
the
discretion
of
the
authority,
extend
the
27
date
by
which
the
qualified
rehabilitation
project
must
be
28
complete
up
to
an
additional
twelve
consecutive
months.
29
(c)
Upon
application
of
the
eligible
taxpayer
made
prior
30
to
the
expiration
of
an
extension
under
subparagraph
(b),
the
31
authority
may,
at
the
discretion
of
the
authority,
extend
32
the
date
by
which
the
qualified
rehabilitation
project
must
33
be
complete
up
to
an
additional
twelve
consecutive
months.
34
The
qualified
eligible
taxpayer
must
substantiate
to
the
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satisfaction
of
the
authority
that
the
requested
extension
is
1
warranted
due
to
extenuating
circumstances
outside
the
control
2
of
the
eligible
taxpayer.
3
(d)
An
application
by
an
eligible
taxpayer
under
4
subparagraph
division
(b)
or
(c)
shall
be
made
in
the
manner
5
and
form
prescribed
by
the
authority
by
rule.
6
Sec.
20.
Section
404A.4,
subsection
1,
paragraph
a,
7
unnumbered
paragraph
1,
Code
2025,
is
amended
to
read
as
8
follows:
9
Except
as
provided
in
subsections
2
,
and
3
,
and
4,
the
10
authority
shall
not
award
in
any
one
fiscal
year
an
amount
of
11
tax
credits
provided
in
section
404A.2
in
excess
of
forty-five
12
million
dollars.
13
Sec.
21.
Section
404A.4,
Code
2025,
is
amended
by
adding
the
14
following
new
subsection:
15
NEW
SUBSECTION
.
4.
a.
If,
during
the
fiscal
year
beginning
16
July
1,
2025,
or
any
fiscal
year
thereafter,
the
authority
17
receives
an
application
for
a
qualified
rehabilitation
project
18
with
qualified
rehabilitation
expenditures
that,
if
registered
19
by
the
authority,
makes
the
eligible
taxpayer
eligible
for
tax
20
credits
of
ten
million
dollars
or
more,
the
authority
may
award
21
tax
credits
during
the
fiscal
year
in
which
the
application
22
is
received
in
an
amount
not
to
exceed
twenty
percent
more
23
than
the
maximum
aggregate
tax
credit
award
limit
specified
in
24
subsection
1.
25
b.
Tax
credits
awarded
pursuant
to
this
subsection
shall
be
26
considered
for
purposes
of
calculating
the
maximum
aggregate
27
tax
credits
awarded
pursuant
to
subsection
1
in
the
immediately
28
succeeding
fiscal
year.
29
DIVISION
VI
30
HOMELESSNESS
——
IOWA
FINANCE
AUTHORITY
31
Sec.
22.
Section
16.5F,
subsection
3,
Code
2025,
is
amended
32
to
read
as
follows:
33
3.
a.
The
authority
shall
may
adopt
rules
pursuant
to
34
chapter
17A
for
carrying
out
the
duties
of
the
authority
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465
pursuant
to
this
section
.
1
b.
The
authority
shall
may
establish
internal
rules
of
2
procedure
consistent
with
the
provisions
of
this
section
.
3
c.
Rules
adopted
or
internal
rules
of
procedure
established
4
pursuant
to
paragraph
“a”
or
“b”
shall
be
consistent
with
the
5
requirements
of
the
federal
McKinney-Vento
Homeless
Assistance
6
Act,
42
U.S.C.
§11301
et
seq.
7
DIVISION
VII
8
TITLE
GUARANTY
BOARD
——
ELIMINATION
9
Sec.
23.
Section
16.1A,
subsection
5,
Code
2025,
is
amended
10
to
read
as
follows:
11
5.
The
board
may,
by
resolution,
delegate
to
the
12
agricultural
development
board
,
title
guaranty
division
board
,
13
director,
or
other
authority
employee
such
of
its
powers,
under
14
such
terms
and
conditions,
as
it
deems
appropriate.
15
Sec.
24.
Section
16.2A,
Code
2025,
is
amended
by
striking
16
the
section
and
inserting
in
lieu
thereof
the
following:
17
16.2A
Title
guaranty
division.
18
A
title
guaranty
division
is
created
within
the
authority.
19
The
division
may
also
be
referred
to
as
Iowa
title
guaranty.
20
The
powers
of
the
division
relating
to
the
issuance
of
21
title
guaranties
are
vested
in
and
shall
be
exercised
by
the
22
board.
The
director
shall
appoint
an
attorney
as
director
23
of
the
division.
The
appointment
of,
and
compensation
for,
24
the
division
director
shall
be
exempt
from
the
merit
system
25
under
chapter
8A,
subchapter
IV,
part
2.
The
net
earnings
of
26
the
division,
beyond
that
necessary
for
reserves,
backing,
27
guaranties
issued,
or
to
otherwise
implement
the
public
28
purposes
and
programs
authorized,
shall
not
inure
to
the
29
benefit
of
any
person
other
than
the
state
and
are
subject
to
30
section
16.2,
subsection
9.
31
Sec.
25.
Section
16.91,
subsections
1,
3,
and
6,
Code
2025,
32
are
amended
to
read
as
follows:
33
1.
The
authority
,
through
the
Iowa
title
guaranty
division
,
34
shall
initiate
and
operate
a
program
in
which
the
division
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shall
offer
guaranties
of
real
property
titles
in
this
state.
1
The
terms,
conditions,
and
form
of
the
guaranty
contract
shall
2
be
forms
approved
by
the
division
board.
The
division
shall
3
fix
a
charge
for
the
guaranty
in
an
amount
sufficient
to
permit
4
the
program
to
operate
on
a
self-sustaining
basis,
including
5
payment
of
administrative
costs
and
the
maintenance
of
an
6
adequate
reserve
against
claims
under
the
Iowa
title
guaranty
7
program.
A
title
guaranty
fund
is
created
in
the
office
of
8
the
treasurer
of
state.
Funds
collected
under
this
program
9
shall
be
placed
in
the
title
guaranty
fund
and
are
available
10
to
pay
all
claims,
necessary
reserves
and
all
administrative
11
costs
of
the
Iowa
title
guaranty
program.
Moneys
in
the
fund
12
shall
not
revert
to
the
general
fund
and
interest
on
the
moneys
13
in
the
fund
shall
be
deposited
in
the
housing
trust
fund
14
established
created
in
section
16.181
and
shall
not
accrue
to
15
the
general
fund.
If
the
authority
board
in
consultation
with
16
the
division
board
determines
that
there
are
surplus
funds
in
17
the
title
guaranty
fund
after
providing
for
adequate
reserves
18
and
operating
expenses
of
the
division,
the
surplus
funds
shall
19
be
transferred
to
the
housing
assistance
fund
created
pursuant
20
to
section
16.40
.
21
3.
With
the
approval
of
the
authority
board
,
the
division
22
and
its
board
shall
consult
with
the
insurance
division
of
the
23
department
of
insurance
and
financial
services
in
developing
24
a
guaranty
contract
acceptable
to
the
secondary
market
and
25
developing
any
other
feature
of
the
program
with
which
the
26
insurance
division
may
have
special
expertise.
Except
as
27
provided
in
this
subsection
,
the
Iowa
title
guaranty
program
28
is
not
subject
to
the
jurisdiction
of
or
regulation
by
the
29
insurance
division
or
the
commissioner
of
insurance.
30
6.
Prior
to
the
issuance
of
a
title
guaranty,
the
division
31
shall
require
evidence
that
an
abstract
of
title
to
the
32
property
in
question
has
been
brought
up-to-date
and
certified
33
by
a
participating
abstractor
in
a
form
approved
by
division
34
rules
acceptable
to
the
division,
and
a
title
opinion
issued
by
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a
participating
attorney
in
the
form
approved
in
the
rules
a
1
form
acceptable
to
the
division
stating
the
attorney’s
opinion
2
as
to
the
title.
The
division
shall
require
evidence
of
the
3
abstract
being
brought
up-to-date
and
the
abstractor
shall
4
retain
evidence
of
the
abstract
as
determined
by
the
board
5
division
.
6
Sec.
26.
Section
16.92,
subsection
1,
paragraph
d,
Code
7
2025,
is
amended
by
striking
the
paragraph.
8
Sec.
27.
Section
16.92,
subsection
1,
paragraph
e,
Code
9
2025,
is
amended
to
read
as
follows:
10
e.
“Mortgage”
means
a
mortgage
or
mortgage
lien
on
an
11
interest
in
real
property
in
this
state
given
to
secure
a
loan
12
in
an
original
principal
amount
equal
to
or
less
than
the
13
maximum
principal
amount
as
determined
by
the
division
board
14
and
adopted
by
the
authority
pursuant
to
rules
promulgated
15
under
chapter
17A
.
16
Sec.
28.
Section
16.93,
subsection
1,
unnumbered
paragraph
17
1,
Code
2025,
is
amended
to
read
as
follows:
18
The
authority
,
through
the
Iowa
title
guaranty
division
,
19
may
issue
a
closing
protection
letter
to
a
person
to
whom
a
20
proposed
title
guaranty
is
to
be
issued,
upon
the
request
of
21
the
person,
if
the
division
issues
a
commitment
for
title
22
guaranty
or
title
guaranty
certificate.
The
closing
protection
23
letter
shall
conform
to
the
terms
of
coverage
and
form
of
the
24
instrument
as
approved
by
the
division
board
and
may
indemnify
25
a
person
to
whom
a
proposed
title
guaranty
is
to
be
issued
26
against
loss
of
settlement
funds
due
to
only
the
following
acts
27
of
the
division’s
named
participating
attorney,
participating
28
abstractor,
or
closer:
29
Sec.
29.
Section
16.93,
subsection
3,
Code
2025,
is
amended
30
to
read
as
follows:
31
3.
The
division
board
shall
establish
the
amount
of
coverage
32
to
be
provided
and
may
distinguish
between
classes
of
property
33
including,
but
not
limited
to,
residential,
agricultural,
or
34
commercial,
provided
that
the
total
amount
of
coverage
provided
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by
the
closing
protection
letter
shall
not
exceed
the
amount
1
of
the
commitment
or
title
guaranty
to
be
issued.
Liability
2
under
the
closing
protection
letter
shall
be
coextensive
with
3
liability
under
the
certificate
to
be
issued
in
connection
with
4
a
transaction
such
that
payments
under
the
terms
of
the
closing
5
protection
letter
shall
reduce
by
the
same
amount
the
liability
6
under
the
title
guaranty
certificate
and
payment
under
the
7
title
guaranty
certificate
shall
reduce
the
liability
under
the
8
terms
of
the
closing
protection
letter.
9
DIVISION
VIII
10
ARTS
AND
CULTURE
11
Sec.
30.
Section
15.108,
subsection
7,
Code
2025,
is
amended
12
to
read
as
follows:
13
7.
Cultural
affairs.
To
develop
the
state’s
interest
in
14
the
areas
of
the
arts,
history,
and
other
cultural
matters.
To
15
carry
out
this
responsibility,
the
authority
shall:
16
a.
Accept,
receive,
and
administer
grants
or
other
funds
or
17
gifts
from
public
or
private
agencies,
including
the
federal
18
government,
for
the
authority.
19
b.
Administer
the
Iowa
cultural
trust,
as
advised
and
20
assisted
by
the
Iowa
arts
council,
as
provided
in
subchapter
21
II,
part
30
,
and
do
all
of
the
following:
22
(1)
Develop
and
adopt
by
rule
criteria
for
the
issuance
23
of
trust
fund
credits
by
measuring
the
efforts
of
qualified
24
organizations
to
increase
their
endowment
or
other
resources
25
for
the
promotion
of
the
arts,
history,
or
the
sciences
and
26
humanities
in
Iowa.
For
purposes
of
this
paragraph,
“qualified
27
organization”
means
a
tax-exempt,
nonprofit
organization
28
whose
primary
mission
is
to
promote
the
arts,
history,
or
the
29
sciences
and
humanities
in
Iowa.
If
the
authority
determines
30
that
a
qualified
organization
has
increased
the
amount
of
the
31
qualified
organization’s
endowment
and
other
resources,
the
32
authority
shall
certify
the
amount
of
increase
in
the
form
of
33
trust
fund
credits
to
the
treasurer,
who
shall
deposit
in
the
34
Iowa
cultural
trust
fund,
from
moneys
received
for
purposes
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of
the
trust
fund
as
provided
in
section
15.479,
subsection
1
2
,
an
amount
equal
to
the
trust
fund
credits.
If
the
amount
2
of
the
trust
fund
credits
issued
by
the
authority
exceeds
the
3
amount
of
moneys
available
to
be
deposited
in
the
trust
fund
as
4
provided
in
section
15.479,
subsection
2
,
the
outstanding
trust
5
fund
credits
shall
not
expire
but
shall
be
available
to
draw
6
down
additional
moneys
which
become
available
to
be
deposited
7
in
the
trust
fund
as
provided
in
section
15.479,
subsection
2
.
8
(2)
Develop
and
implement,
in
accordance
with
subchapter
9
II,
part
30
,
a
grant
application
process
for
grants
issued
to
10
qualified
organizations.
11
(3)
Develop
and
adopt
by
rule
criteria
for
the
approval
of
12
Iowa
cultural
trust
grants.
The
criteria
shall
include
but
13
shall
not
be
limited
to
the
future
stability
and
sustainability
14
of
a
qualified
organization.
15
(4)
Compile,
in
consultation
with
the
Iowa
arts
council,
16
a
list
of
grant
applications
recommended
for
funding
in
17
accordance
with
the
amount
available
for
distribution
as
18
provided
in
section
15.481,
subsection
3
.
19
(5)
Monitor
the
allocation
and
use
of
grant
moneys
by
all
20
qualified
organizations
to
determine
whether
moneys
are
used
21
in
accordance
with
the
provisions
of
this
paragraph
“b”
and
22
subchapter
II,
part
30
.
23
c.
b.
Design
a
comprehensive,
statewide,
long-range
plan
24
with
the
assistance
of
the
Iowa
arts
council
to
develop
the
25
arts
in
Iowa.
The
authority
is
designated
as
the
state
agency
26
for
carrying
out
the
plan.
27
d.
c.
By
rule,
establish
Establish
advisory
groups
as
28
necessary
for
the
receipt
of
federal
funds
or
grants
or
the
29
administration
of
any
of
the
authority’s
programs.
30
e.
Develop
and
implement
fee-based
educational
programming
31
opportunities,
including
preschool
programs,
related
to
arts,
32
history,
and
other
cultural
matters
for
Iowans
of
all
ages.
33
f.
Conduct
surveys
of
existing
art
and
cultural
programs
34
and
activities
within
the
state,
including
but
not
limited
to
35
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music,
theater,
dance,
painting,
sculpture,
architecture,
and
1
allied
arts
and
crafts.
The
authority
shall
submit,
or
include
2
as
part
of
the
annual
report
under
section
15.107B
,
a
report
3
on
the
survey
to
the
governor
and
to
the
general
assembly
no
4
later
than
ten
calendar
days
after
the
commencement
of
each
5
first
session
of
the
general
assembly
recommending
appropriate
6
legislation
or
other
action
as
the
authority
deems
appropriate.
7
g.
d.
Establish
and
administer
a
film
office.
The
purpose
8
of
the
film
office
is
to
assist
legitimate
film,
television,
9
and
video
producers
in
Provide
technical
assistance
for
the
10
production
of
film,
television,
and
video
projects
in
the
11
state
,
and
to
increase
the
fiscal
impact
on
the
state’s
economy
12
of
film,
television,
and
video
projects
produced
in
the
state
.
13
Sec.
31.
Section
15.274,
Code
2025,
is
amended
to
read
as
14
follows:
15
15.274
Promotional
program
for
national
historic
landmarks
16
and
cultural
and
entertainment
districts.
17
The
economic
development
authority,
in
cooperation
with
18
the
state
department
of
transportation,
shall
establish
19
and
administer
a
program
designed
to
promote
knowledge
of
20
and
access
to
buildings,
sites,
districts,
structures,
and
21
objects
located
in
this
state
that
have
been
designated
by
the
22
secretary
of
the
interior
of
the
United
States
as
a
national
23
historic
landmark,
unless
the
national
historic
landmark
is
24
protected
under
section
22.7,
subsection
20
,
and
certified
25
cultural
and
entertainment
districts,
as
established
pursuant
26
to
section
15.438
.
The
program
shall
be
designed
to
maximize
27
the
visibility
and
visitation
of
national
historic
landmarks
28
in
this
state
and
buildings,
sites,
structures,
and
objects
29
located
in
certified
cultural
and
entertainment
districts,
30
as
established
pursuant
to
section
15.438
.
Methods
used
to
31
maximize
the
visibility
and
visitation
of
such
locations
may
32
include
the
use
of
tourism
literature,
signage
on
highways,
33
maps
of
the
state
and
cities,
and
internet
sites.
For
purposes
34
of
this
section
,
“highway”
means
the
same
as
defined
in
section
35
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325A.1
.
1
Sec.
32.
Section
15.436,
Code
2025,
is
amended
by
striking
2
the
section
and
inserting
in
lieu
thereof
the
following:
3
15.436
Arts
and
culture
enhancement
fund.
4
1.
The
economic
development
authority
shall,
pursuant
5
to
section
15.106A,
subsection
1,
paragraph
“o”
,
establish
6
the
arts
and
culture
enhancement
fund
to
be
used
for
the
7
purposes
of
this
section.
The
fund
shall
consist
of
any
moneys
8
appropriated
by
the
general
assembly
for
purposes
of
this
9
section
and
any
other
moneys
that
are
lawfully
available
to
10
the
authority.
Notwithstanding
section
12C.7,
subsection
2,
11
interest
or
earnings
on
moneys
in
the
fund
shall
accrue
to
12
the
authority
and
shall
be
used
for
purposes
of
this
section.
13
Notwithstanding
section
8.33,
moneys
in
the
fund
at
the
end
of
14
each
fiscal
year
shall
not
revert
to
any
other
fund
but
shall
15
remain
in
the
fund
for
expenditure
for
subsequent
fiscal
years.
16
2.
The
authority
shall
allocate
moneys
in
the
arts
and
17
culture
enhancement
fund
in
appropriate
amounts
to
be
used
for
18
the
following
purposes:
19
a.
To
provide
support
to
municipal
and
nonprofit
arts
and
20
cultural
organizations
that
serve
as
significant
attractions
21
or
community
resources.
22
b.
To
support
artists
and
entities
that
foster
artistic
and
23
cultural
expression,
promote
lifelong
learning
and
engagement
24
in
the
arts,
advance
community
development
goals,
or
emphasize
25
Iowa’s
diverse
heritage
through
the
creation,
performance,
or
26
presentation
of
artworks.
27
c.
To
increase
access
to
arts
and
culture
in
rural
and
28
underserved
communities
in
the
state.
29
d.
For
the
promotion
of
and
investment
in
film,
television,
30
and
video
projects
produced
in
the
state.
31
e.
To
address
other
goals
and
priorities
as
reflected
in
32
the
comprehensive,
statewide,
long-range
plan
designed
by
the
33
authority
with
the
assistance
of
the
Iowa
arts
council
pursuant
34
to
section
15.108,
subsection
7.
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f.
For
administrative
costs
related
to
this
section.
1
3.
The
authority
may
adopt
by
rule
eligibility
and
priority
2
criteria
for
allocation
of
moneys
in
the
arts
and
culture
3
enhancement
fund.
4
Sec.
33.
Section
15.465,
subsection
2,
Code
2025,
is
amended
5
to
read
as
follows:
6
2.
The
term
of
office
of
each
member
of
the
Iowa
arts
7
council
is
three
years.
The
governor
shall
designate
council
8
may
elect
a
chairperson
and
a
vice
chairperson
from
the
members
9
of
the
council
to
serve
at
the
pleasure
of
the
governor
.
All
10
vacancies
shall
be
filled
for
the
balance
of
any
unexpired
term
11
in
the
same
manner
as
original
appointments.
The
members
of
12
the
council
shall
not
receive
compensation
for
their
services,
13
but
shall
be
reimbursed
for
their
actual
and
necessary
expenses
14
incurred
in
the
performance
of
their
duties
as
members
of
the
15
council.
Members
may
also
be
eligible
for
compensation
as
16
provided
in
section
7E.6
.
17
Sec.
34.
Section
15.466,
Code
2025,
is
amended
to
read
as
18
follows:
19
15.466
Duties
of
Iowa
arts
council.
20
The
Iowa
arts
council
shall
review
programs
to
be
supported
21
and
make
recommendations
on
the
programs
to
the
director
to
22
ensure
that
Iowa
citizens
and
communities
have
access
to
the
23
cultural,
civic,
economic,
and
educational
benefits
of
the
24
arts
.
The
council
may
solicit
public
input
including
but
not
25
limited
to
input
on
the
comprehensive,
statewide,
long-range
26
plan
created
by
the
authority
with
the
assistance
of
the
Iowa
27
arts
council
pursuant
to
section
15.108,
subsection
7.
28
Sec.
35.
Section
15H.6,
subsection
3,
Code
2025,
is
amended
29
to
read
as
follows:
30
3.
The
capacity
building
activities
shall
be
targeted
in
31
communities
that
are
already
working
with
existing
community
32
improvement
programs,
including
but
not
limited
to
the
Iowa
33
great
places
program
established
under
section
15.439
,
the
34
green
streets
and
main
street
Iowa
programs
administered
by
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the
economic
development
authority,
and
disaster
remediation
1
activities
by
communities
located
within
an
area
declared
to
be
2
a
disaster
area
in
a
declaration
issued
by
the
president
of
the
3
United
States
or
the
governor.
4
Sec.
36.
Section
99F.11,
subsection
4,
paragraph
d,
5
subparagraph
(1),
Code
2025,
is
amended
to
read
as
follows:
6
(1)
Five
hundred
twenty
thousand
dollars
is
appropriated
7
each
fiscal
year
to
the
economic
development
authority
with
8
one-half
of
the
moneys
allocated
for
operational
support
grants
9
and
the
remaining
one-half
allocated
for
the
community
cultural
10
grants
program
established
under
for
deposit
in
the
arts
and
11
culture
enhancement
fund
established
in
section
15.436
.
12
Sec.
37.
REPEAL.
Sections
15.437,
15.438,
15.439,
15.440,
13
15.441,
15.476,
15.477,
15.478,
15.479,
15.481,
and
15.482,
14
Code
2025,
are
repealed.
15
Sec.
38.
TRANSFER
OF
MONEYS.
On
the
effective
date
of
this
16
division
of
this
Act,
all
unencumbered
and
unobligated
moneys
17
remaining
in
the
Iowa
great
places
program
fund
created
in
18
section
15.440,
the
Iowa
cultural
trust
fund
created
in
section
19
15.479,
and
the
Iowa
cultural
trust
grant
account
created
20
in
section
15.482
are
transferred
to
the
arts
and
culture
21
enhancement
fund
established
pursuant
to
section
15.436,
as
22
amended
by
this
division
of
this
Act.
23
DIVISION
IX
24
CONFORMING
CHANGES
25
Sec.
39.
Section
16.6,
subsection
4,
Code
2025,
is
amended
26
to
read
as
follows:
27
4.
The
director
may
establish
administrative
divisions
28
within
the
authority
in
order
to
most
efficiently
and
29
effectively
carry
out
the
authority’s
responsibilities,
30
provided
that
any
creation
or
modification
of
authority
31
divisions
be
established
only
after
consultation
with
the
board
32
of
the
authority
.
33
Sec.
40.
Section
16.64,
subsection
1,
Code
2025,
is
amended
34
to
read
as
follows:
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1.
The
authority
shall
publish
a
notice
of
intention
to
1
issue
bonds
or
notes.
After
sixty
days
from
the
date
of
2
publication
of
the
notice,
an
action
shall
not
be
brought
3
questioning
the
legality
of
any
bonds
or
notes
or
the
power
of
4
the
authority
to
issue
any
bonds
or
notes
or
to
the
legality
5
of
any
proceedings
in
connection
with
the
authorization
or
6
issuance
of
the
bonds
or
notes
after
determination
by
the
board
7
of
the
authority
to
proceed
with
the
issuance
of
the
bonds
or
8
notes.
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
matters
under
the
purview
of
the
13
economic
development
authority
and
the
Iowa
finance
authority
14
including
the
strategic
infrastructure
program,
brownfield,
15
grayfield,
and
redevelopment
tax
credits,
community
attraction
16
and
tourism,
vision
Iowa,
sports
tourism
marketing,
the
17
historic
preservation
tax
credit,
homelessness,
the
title
18
guaranty
board,
and
arts
and
culture.
19
Division
I
eliminates
the
requirement
that
the
Iowa
20
innovation
council
review
and
make
recommendations
on
all
21
applications
received
by
the
Iowa
economic
development
22
authority
(IEDA)
for
financial
assistance
under
the
Iowa
23
strategic
infrastructure
program,
and
instead
requires
a
24
committee
appointed
by
the
IEDA
director
to
conduct
a
review
25
and
make
recommendations.
26
Division
II
repeals
the
brownfield
redevelopment
program,
27
fund,
and
advisory
council
(council).
28
The
bill
requires
that
the
amount
of
a
redevelopment
tax
29
credit
be
determined
by
members
of
the
IEDA
appointed
by
the
30
governor
(the
board),
rather
than
determined
by
the
board
31
in
conjunction
with
the
council
as
required
under
current
32
law.
The
IEDA
shall
accept
and
review
applications
for
the
33
redevelopment
tax
credit
and
make
award
recommendations
to
34
the
board,
rather
than
accept
and
review
applications
in
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conjunction
with
the
council
as
required
under
current
law.
1
IEDA
may
engage
outside
experts
to
complete
a
technical,
2
financial,
or
other
review.
The
bill
makes
conforming
changes
3
related
to
elimination
of
the
council.
4
Under
current
law,
upon
completion
of
a
registered
project
5
for
redevelopment
tax
credits,
an
audit
of
the
project
6
completed
by
an
independent
certified
public
accountant
(CPA)
7
shall
be
submitted
to
the
IEDA.
Under
the
bill,
the
investor
8
shall
engage
a
CPA
to
conduct
an
examination
of
the
project
9
and
submit
the
examination,
and
a
statement
of
the
amount
of
10
final
qualifying
investments,
to
the
IEDA.
Upon
review
of
the
11
examination
and
statement,
the
IEDA
may
issue
a
tax
credit
12
certificate
to
the
investor.
13
On
the
effective
date
of
the
bill,
all
unencumbered
and
14
unobligated
moneys
remaining
in
the
brownfield
redevelopment
15
fund
are
transferred
to
a
fund
or
funds
established
pursuant
to
16
Code
section
15.335B,
as
determined
by
the
IEDA.
17
Division
III
eliminates
the
requirement
that
an
applicant
18
awarded
financial
assistance
under
both
the
vision
Iowa
program
19
and
the
community
attraction
and
tourism
program
provide
and
20
pay
at
least
50
percent
of
the
cost
of
a
standard
medical
21
insurance
plan
for
all
full-time
employees
after
the
completion
22
of
the
project
for
which
financial
assistance
was
received.
23
This
division
applies
to
applicants
awarded
financial
24
assistance
under
both
programs
on
or
after
the
effective
date
25
of
the
bill,
and
applies
retroactively
to
applicants
awarded
26
financial
assistance
under
both
programs
prior
to
the
effective
27
date
of
the
bill.
28
Under
division
IV,
the
director
of
the
IEDA
shall
appoint
a
29
review
committee
composed
of
members
with
relevant
expertise
to
30
review
community
attraction
and
tourism
program
applications
31
and
sports
tourism
marketing
and
infrastructure
program
32
applications.
Under
current
law,
the
review
committee
is
33
composed
of
five
members
of
the
IEDA
board.
34
Division
V
requires,
in
addition
to
existing
requirements
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for
the
historic
preservation
tax
credit
program
(historic
1
tax
program)
under
current
law,
for
a
project
for
the
2
rehabilitation
of
property
to
be
considered
a
“qualified
3
rehabilitation
project”
(project),
that
the
property
not
be
a
4
single-family
dwelling
unit,
unless
the
project
will
result
5
in
two
or
more
new
single-family
dwelling
units
that
were
6
not
available
for
occupancy
for
at
least
six
months
prior
to
7
the
project,
and
the
dwelling
units
are
located
in
the
same
8
neighborhood
as
confirmed
by
the
IEDA.
The
single-family
9
dwelling
units
must
be
made
available
for
occupancy
as
a
result
10
of
the
project.
The
IEDA
may
promulgate
rules
that
specify
the
11
criteria
used
to
determine
if
a
property
is
a
single-family
12
dwelling
unit,
and
to
determine
if
a
property
is
a
qualified
13
rehabilitation
project.
14
Under
current
law,
upon
successful
registration
of
a
15
project
under
the
historic
tax
program,
the
eligible
taxpayer
16
(taxpayer)
shall
enter
into
an
agreement
with
the
IEDA
that
17
contains
mutually
agreeable
terms
and
conditions
including
the
18
commencement
date
of
the
project,
which
shall
not
be
later
than
19
the
end
of
the
fiscal
year
in
which
the
agreement
is
entered
20
into,
and
the
completion
date
of
the
project,
which
shall
be
21
within
36
months
of
the
commencement
date.
Under
the
bill,
22
the
date
by
which
the
project
must
commence
shall
be
no
later
23
than
one
calendar
year
from
the
registration
date,
except
24
that
upon
application
of
the
taxpayer
the
IEDA
may
extend
the
25
date
of
commencement
up
to
12
additional
months.
The
date
by
26
which
the
project
must
be
completed
shall
be
no
later
than
27
three
consecutive
calendar
years
from
the
registration
date,
28
except
that
upon
application
of
the
taxpayer,
the
IEDA
may
29
extend
the
date
of
commencement
up
to
another
12
months.
The
30
project
is
complete
as
of
the
date
the
property
is
placed
in
31
service.
Upon
application
of
the
taxpayer
made
prior
to
the
32
expiration
of
the
12-month
extension,
the
IEDA
may
extend
the
33
date
by
which
the
project
must
be
completed
up
to
an
additional
34
12
months.
The
taxpayer
must
substantiate
that
the
requested
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extension
is
warranted
due
to
extenuating
circumstances.
1
Under
the
bill,
the
IEDA
may
grant
historic
preservation
2
tax
credits
beyond
the
aggregate
tax
credit
award
limit
in
one
3
fiscal
year
if,
during
that
fiscal
year,
the
IEDA
receives
an
4
application
for
a
project
that
has
qualified
rehabilitation
5
expenditures
that,
if
registered,
would
make
the
taxpayer
6
eligible
for
tax
credits
of
$10
million
or
more.
The
IEDA
is
7
then
permitted
to
award
tax
credits
during
that
fiscal
year
not
8
to
exceed
20
percent
more
than
the
maximum
aggregate
tax
credit
9
award
limit.
Such
tax
credits
awarded
shall
be
considered
for
10
purposes
of
calculating
the
maximum
aggregate
tax
credit
award
11
limit
in
the
immediately
succeeding
fiscal
year.
12
Under
division
VI,
the
Iowa
finance
authority
(IFA)
13
may
adopt
rules
to
carry
out
the
duties
of
IFA
related
to
14
homelessness,
and
may
establish
internal
rules
of
procedure,
15
consistent
with
the
requirements
of
the
federal
McKinney-Vento
16
Homeless
Assistance
Act.
Under
current
law,
IFA
must
adopt
17
rules.
18
Division
VII
eliminates
the
title
guaranty
division
board.
19
The
powers
of
the
title
guaranty
division
relating
to
the
20
issuance
of
title
guaranties
are
vested
in
the
IFA
board
of
21
directors.
The
director
of
the
IFA
shall
appoint
an
attorney
22
as
director
of
the
division,
and
the
division
director’s
23
appointment
and
compensation
shall
be
exempt
from
the
merit
24
system.
The
bill
makes
conforming
changes
to
Code
sections
25
16.1A,
16.91,
16.92,
and
16.93.
26
Division
VIII
is
related
to
arts
and
culture.
Under
current
27
law,
the
IEDA
is
responsible
for
the
Iowa
cultural
trust,
28
including
the
issuance
of
trust
fund
credits
for
the
promotion
29
of
the
arts,
history,
or
the
sciences
and
humanities;
the
30
issuance
of
grants
for
qualified
organizations;
developing
and
31
implementing
fee-based
educational
programming
opportunities;
32
conducting
surveys
of
existing
art
and
cultural
programs
33
and
activities
within
the
state;
and
the
establishment
and
34
administration
of
a
film
office.
The
bill
maintains
the
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responsibility
for
the
IEDA
to
accept,
receive,
and
administer
1
grants
or
other
funds
or
gifts
from
public
or
private
agencies;
2
to
design
and
carry
out
a
comprehensive,
statewide,
long-range
3
plan
(plan)
with
the
assistance
of
the
Iowa
arts
council
to
4
develop
the
arts
in
Iowa;
and
to
establish
advisory
groups
for
5
the
receipt
of
federal
funds
or
grants
or
the
administration
6
of
the
IEDA’s
programs.
Under
the
bill,
the
IEDA
is
no
longer
7
required
to
establish
and
administer
a
film
office.
Instead,
8
the
IEDA
is
responsible
for
providing
technical
assistance
for
9
the
production
of
film,
television,
and
video
projects
in
the
10
state.
11
The
bill
eliminates
certified
cultural
and
entertainment
12
districts.
The
bill
eliminates
the
cultural
grant
programs
13
under
current
law,
which
requires
the
IEDA
to
establish
14
a
grant
program
for
cities
and
nonprofit,
tax-exempt
15
community
organizations
for
the
development
of
community
16
programs
that
provide
local
jobs
for
Iowa
residents
and
17
promote
Iowa’s
historic,
ethnic,
and
cultural
heritages
18
through
the
development
of
festivals,
music,
drama,
cultural
19
programs,
or
tourist
attractions.
Additionally,
the
IEDA
20
is
required
to
establish
a
grant
program
which
provides
21
general
operating
budget
support
to
major,
multidisciplinary
22
cultural
organizations
that
demonstrate
cultural
and
managerial
23
excellence
on
a
continuing
basis
to
the
citizens
of
Iowa.
24
Instead,
the
bill
creates
the
arts
and
culture
enhancement
25
fund
(enhancement
fund),
under
which
the
IEDA
shall
allocate
26
moneys
to
the
fund
to
provide
support
to
municipal
and
27
nonprofit
arts
and
cultural
organizations
that
serve
as
28
significant
attractions
or
community
resources;
to
support
29
artists
and
entities
that
foster
artistic
and
cultural
30
expression,
promote
lifelong
learning
and
engagement
in
the
31
arts,
advance
community
development
goals,
or
emphasize
Iowa’s
32
diverse
heritage
through
artwork;
to
increase
access
to
arts
33
and
culture
in
rural
and
underserved
communities;
for
the
34
promotion
of
and
investment
in
film,
television,
and
video
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projects
produced
in
the
state;
and
to
address
other
goals
and
1
priorities
in
the
plan
designed
by
the
IEDA.
The
enhancement
2
fund
consists
of
moneys
appropriated
by
the
general
assembly
3
and
any
other
moneys
that
are
lawfully
available
to
the
IEDA.
4
Each
fiscal
year,
$520,000
is
appropriated
from
gambling
5
and
sports
wagering
taxes
to
the
IEDA
for
deposit
in
the
6
enhancement
fund.
The
IEDA
may
establish
and
adopt
by
rule
7
eligibility
and
priority
criteria
for
allocation
of
moneys
in
8
the
enhancement
fund.
9
The
Iowa
arts
council
(arts
council)
may
elect
a
chairperson
10
and
vice
chairperson
from
the
members
of
the
arts
council,
11
rather
than
being
designated
by
the
governor
under
current
law.
12
In
addition
to
duties
under
current
law,
the
arts
council
is
13
required
to
recommend
programs
to
ensure
that
Iowa
citizens
and
14
communities
have
access
to
the
cultural,
civic,
economic,
and
15
educational
benefits
of
the
arts.
16
The
bill
repeals
Code
sections
15.437
through
15.441,
15.476
17
through
15.479,
15.481,
and
15.482,
eliminating
the
Iowa
18
cultural
trust
Act,
including
the
Iowa
cultural
trust,
trust
19
fund,
grant
account,
and
board
of
trustees,
and
eliminates
the
20
arts
and
cultural
conferences
and
caucuses,
the
cultural
and
21
entertainment
districts,
the
Iowa
great
places
program
and
22
fund,
and
the
culture,
history,
and
arts
teams
program.
23
On
the
effective
date
of
this
division
of
the
bill,
all
24
unencumbered
and
unobligated
moneys
remaining
in
the
Iowa
25
great
places
program
fund,
Iowa
cultural
trust
fund,
and
Iowa
26
cultural
trust
grant
account
are
transferred
to
the
arts
and
27
culture
enhancement
fund
established
in
the
bill.
28
Division
IX
makes
conforming
changes
to
Code
sections
16.6
29
and
16.64.
30
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