Loading chat...
IA SF642
Bill
Status
4/23/2025
Primary Sponsor
Appropriations
Click for details
AI Summary
-
Eliminates the brownfield redevelopment program, fund, and advisory council, transferring review and award authority for redevelopment tax credits solely to the Iowa Economic Development Authority (IEDA) board rather than requiring coordination with the council
-
Modifies the historic preservation tax credit by making it 100% refundable for tax years beginning January 1, 2026, prohibiting certificate transfers after that date, and excluding single-family dwelling units unless the project creates two or more new units; allows IEDA to award up to 20% above the annual cap for projects seeking $10 million or more in credits
-
Eliminates the title guaranty division board within the Iowa Finance Authority, transferring powers related to issuing title guaranties to the IFA board of directors
-
Repeals arts and culture programs including the Iowa cultural trust, Iowa great places program, and certified cultural and entertainment districts; creates a new arts and culture enhancement fund for grants to municipal and nonprofit arts organizations, artist support, and film/television production assistance
-
Increases the maximum acreage for Iowa reinvestment districts from 75 to 125 acres for districts approved on or after July 1, 2020, with retroactive applicability to that date
Legislative Description
A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, arts and culture, and the Iowa reinvestment Act and including applicability and retroactive applicability provisions.(Formerly SF 622, SF 465, SSB 1106.)
Last Action
Withdrawn. S.J. 960.
5/12/2025