Bill Text: IA SSB3201 | 2017-2018 | 87th General Assembly | Introduced
Bill Title: A bill for an act relating to an extension granted by the economic development authority for certain agreements with eligible housing businesses.
Spectrum: Committee Bill
Status: (N/A - Dead) 2018-03-13 - Subcommittee recommends passage. [SSB3201 Detail]
Download: Iowa-2017-SSB3201-Introduced.html
Senate
Study
Bill
3201
-
Introduced
SENATE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
FEENSTRA)
A
BILL
FOR
An
Act
relating
to
an
extension
granted
by
the
economic
1
development
authority
for
certain
agreements
with
eligible
2
housing
businesses.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
2014
Iowa
Acts,
chapter
1130,
section
43,
1
subsection
1,
as
amended
by
2015
Iowa
Acts,
chapter
138,
2
section
86,
and
2016
Iowa
Acts,
chapter
1109,
section
13,
is
3
amended
to
read
as
follows:
4
1.
On
or
after
the
effective
date
of
this
division
of
5
this
Act
May
30,
2014
,
a
city
or
county
shall
not
create
an
6
enterprise
zone
under
chapter
15E,
division
XVIII
,
or
enter
7
into
a
new
agreement
under
chapter
15E,
division
XVIII
,
unless
8
otherwise
authorized
in
this
Act
2015
Iowa
Acts,
ch.
138,
§85
.
9
a.
A
city
or
county
and
the
economic
development
authority,
10
with
the
approval
of
the
economic
development
authority
board,
11
may
amend
an
agreement
for
compliance
reasons
if
the
.
The
12
amendment
does
shall
not
increase
the
amount
of
incentives
or
13
change
the
type
of
incentives
originally
awarded
under
the
14
agreement.
15
b.
A
city
or
county
and
the
economic
development
authority,
16
with
the
approval
of
the
economic
development
authority
board,
17
may
approve
an
extension
for
an
agreement
with
an
eligible
18
housing
business,
pursuant
to
section
15E.193B,
Code
2014,
19
to
complete
the
housing
business’
building
or
rehabilitation
20
project
if
the
project
is
located
in
a
county
that
meets
the
21
distress
criteria
described
in
section
15E.194,
Code
2014,
22
and
there
remains
a
demonstrated
need
for
housing
within
a
23
community
in
the
county.
The
agreement
extension
shall
be
for
24
a
maximum
of
one
year
from
the
date
the
extension
is
granted
25
and
only
one
extension
shall
be
permitted.
The
agreement
26
extension
shall
not
increase
the
amount
of
incentives
or
change
27
the
type
of
incentives
originally
awarded
under
the
agreement.
28
EXPLANATION
29
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
30
the
explanation’s
substance
by
the
members
of
the
general
assembly.
31
This
bill
relates
to
an
extension
granted
by
the
economic
32
development
authority
for
agreements
with
eligible
housing
33
businesses.
The
authority’s
program
to
provide
incentives
34
and
assistance
to
eligible
housing
businesses
to
build
or
35
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rehabilitate
single-family
homes,
or
multiple
dwelling
unit
1
buildings,
in
economic
development
enterprise
zones
pursuant
to
2
Code
section
15E.193B,
Code
2014,
was
terminated
in
2014
when
3
Code
section
15E.193B
was
repealed.
4
Under
the
2014
law,
agreements
with
eligible
housing
5
businesses
required
the
project
or
rehabilitation
to
be
6
completed
within
two
years
of
the
date
the
eligible
housing
7
business
began
the
building
or
rehabilitation.
The
bill
8
allows
an
extension
to
be
granted
by
the
economic
development
9
authority,
as
approved
by
the
economic
development
board,
10
for
up
to
one
year
from
the
date
the
extension
is
granted
11
for
the
eligible
housing
business
to
complete
its
building
12
or
rehabilitation
project.
The
bill
provides
that
only
one
13
extension
may
be
granted
and
only
for
a
project
in
a
distressed
14
county
within
a
community
with
a
demonstrated
need
for
housing.
15
The
bill
prohibits
the
agreement
extension
from
increasing
16
the
amount
of
incentives
or
the
type
of
incentives
originally
17
awarded
under
the
agreement.
18
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