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IA HSB208
SB
Status
2/19/2025
Primary Sponsor
Local Government
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AI Summary
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Urban renewal plans adopted or amended after the bill's effective date cannot include projects related to property where a gaming licensee (licensed under Chapter 99F on or after January 1, 2025) operates, and such property cannot be included in urban renewal areas
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Assessment agreements for gaming properties in urban renewal or urban revitalization areas must establish minimum actual value at an amount not less than the project cost presented to the state racing and gaming commission during license approval
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Property taxes levied against gaming facilities licensed on or after January 1, 2025 are excluded from tax increment financing (TIF) revenue division under Code section 403.19
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The bill takes effect upon enactment, with the TIF provisions applying to property taxes due and payable in fiscal years beginning on or after July 1, 2025
Legislative Description
A bill for an act relating to Iowa's urban renewal law and urban revitalization law, by establishing provisions governing certain property used for gaming, and including effective date and applicability provisions.
Last Action
Subcommittee recommends amendment and passage.
2/26/2025