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IA HSB563
SB
Status
1/14/2026
Primary Sponsor
Ways and Means
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AI Summary
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Limits unassigned general fund reserves for local governments (excluding school districts) to 10% of budgeted expenditures starting with fiscal year 2028 budgets, with non-compliant budgets rejected by the Department of Management until corrected.
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Establishes a rent reimbursement program for eligible low-income renters and creates a first-time homebuyer assistance program, with the Iowa Finance Authority administering both programs.
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Modifies urban renewal and urban revitalization area provisions, including new reporting requirements and limitations on tax increment financing (TIF) districts.
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Changes election requirements for certain county officers including county auditor, treasurer, and recorder positions to be appointed rather than elected in some circumstances.
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Creates a local government shared-services grant fund to incentivize consolidation and shared services between governmental entities, and modifies funding provisions from the Secure an Advanced Vision for Education (SAVE) fund.
Legislative Description
A bill for an act relating to state and local government taxes, budgets, and authority, by modifying provisions relating to the assessment and taxation of property, funding from the secure an advanced vision for education fund, the election of certain county officers, urban renewal areas and urban revitalization areas, establishing a rent reimbursement program, establishing a program for certain first-time homebuyers, establishing a local government shared-services grant fund, making appropriations, and including effective date, applicability, and retroactive applicability provisions.
Last Action
Subcommittee recommends passage.
1/29/2026