Bill Text: IA SF186 | 2015-2016 | 86th General Assembly | Introduced

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Bill Title: A bill for an act relating to developer fees for federal low-income housing credits.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-02-10 - Subcommittee, Bisignano, Schneider, and Taylor. S.J. 270. [SF186 Detail]

Download: Iowa-2015-SF186-Introduced.html

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Senate File 186 - Introduced




                                 SENATE FILE       
                                 BY  ZAUN

                                      A BILL FOR

  1 An Act relating to developer fees for federal low=income
  2    housing credits.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    TLSB 1832XS (3) 86
    jh/sc

PAG LIN



  1  1    Section 1.  NEW SECTION.  16.35A  Developer fees == federal
  1  2 low=income housing credits.
  1  3    In qualified allocation plans adopted by the authority for
  1  4 low=income housing credits pursuant to Internal Revenue Code
  1  5 {42, the authority shall not allow developer fees of more than
  1  6 ten percent.
  1  7                           EXPLANATION
  1  8 The inclusion of this explanation does not constitute agreement with
  1  9 the explanation's substance by the members of the general assembly.
  1 10    This bill prohibits the Iowa finance authority from allowing
  1 11 a developer fee of more than 10 percent in qualified allocation
  1 12 plans adopted for federal low=income housing credits.
       LSB 1832XS (3) 86
       jh/sc