Bill Text: IA HF388 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act relating to the approval and use of increased local sales and services tax revenues to fund urban renewal projects and including effective date provisions. (See Cmte. Bill HF 674)
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2011-12-31 - END OF 2011 ACTIONS [HF388 Detail]
Download: Iowa-2011-HF388-Introduced.html
House
File
388
-
Introduced
HOUSE
FILE
388
BY
GASKILL
A
BILL
FOR
An
Act
relating
to
the
approval
and
use
of
increased
local
1
sales
and
services
tax
revenues
to
fund
urban
renewal
2
projects
and
including
effective
date
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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2250YH
(2)
84
md/sc
H.F.
388
Section
1.
Section
423B.10,
Code
2011,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
7.
An
ordinance
under
this
section
3
providing
for
the
use
of
a
designated
amount
of
the
increased
4
local
sales
and
services
tax
revenue
shall
not
be
adopted
or
5
amended
on
or
after
the
effective
date
of
this
Act.
However,
6
an
ordinance
adopted
under
this
section
may
be
repealed
or
7
amended
on
or
after
the
effective
date
of
this
Act
to
reduce
8
the
amount
of
local
sales
and
services
tax
revenue
used
or
to
9
reduce
the
period
of
time
during
which
such
revenues
are
used.
10
Sec.
2.
ORDINANCES
ADOPTED
PRIOR
TO
EFFECTIVE
DATE.
The
11
amount
of
the
increased
local
sales
and
services
taxes
received
12
by
a
city
as
the
result
of
an
ordinance
adopted
prior
to
13
the
effective
date
of
this
Act
under
chapter
423B
that
have
14
been
designated
by
a
city
by
ordinance
to
fund
urban
renewal
15
projects
pursuant
to
section
423B.10
shall
be
deposited
in
the
16
city’s
special
fund
created
in
section
403.19,
subsection
2,
17
and
shall
be
used
to
fund
urban
renewal
projects
located
in
an
18
urban
renewal
area.
19
Sec.
3.
OBLIGATIONS
OF
CITIES.
This
Act
shall
not
relieve,
20
impair,
or
otherwise
alter
the
obligations
of
a
city
relating
21
to
bonds
issued
pursuant
to
chapter
403
prior
to
the
effective
22
date
of
this
Act
or
contracts
made
prior
to
the
effective
date
23
of
this
Act
in
connection
with
an
urban
renewal
project.
24
Sec.
4.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
25
immediate
importance,
takes
effect
upon
enactment.
26
EXPLANATION
27
This
bill
relates
to
the
use
of
sales
and
services
tax
28
revenues
to
fund
urban
renewal
projects.
29
Current
law
allows
an
eligible
city
to
provide
by
ordinance
30
for
the
use
of
a
designated
amount
of
the
increased
local
sales
31
and
services
tax
revenues
attributable
to
retail
establishments
32
in
an
urban
renewal
area
to
fund
urban
renewal
projects
located
33
in
the
area.
34
The
bill
provides
that
an
ordinance
under
Code
section
35
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2
H.F.
388
423B.10
designating
an
amount
of
increased
local
sales
and
1
services
tax
revenue
for
urban
renewal
projects
may
not
be
2
adopted
or
amended
on
or
after
the
effective
date
of
the
bill.
3
The
bill
allows
existing
ordinances
to
be
amended
for
certain
4
purposes
or
repealed
on
or
after
the
effective
date
of
the
5
bill.
6
The
bill
provides
that
any
local
sales
and
services
taxes
7
received
as
the
result
of
an
ordinance
adopted
prior
to
the
8
effective
date
of
the
bill
and
designated
for
urban
renewal
9
projects
must
be
deposited
in
the
city’s
special
fund
and
used
10
to
fund
urban
renewal
projects.
11
The
bill
does
not
relieve,
impair,
or
alter
the
obligations
12
of
a
city
in
regard
to
certain
bonds
or
contracts.
13
The
bill
takes
effect
upon
enactment.
14
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LSB
2250YH
(2)
84
md/sc
2/
2
