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IA SSB3188
SB
Status
3/17/2026
Primary Sponsor
Appropriations
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AI Summary
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Appropriates $12,903,510 from the general fund to the Iowa Economic Development Authority for fiscal year 2027 (July 1, 2026 – June 30, 2027) for salaries, marketing, business development, community development, and small business programs.
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Establishes FY2027 goals for the Economic Development Authority to expand the state economy, increase Iowans' wealth, and grow the state's population through free-market, private-sector approaches.
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Directs the Authority to prioritize recruitment of new businesses, expansion and retention of existing Iowa businesses, and entrepreneurial development including helping entrepreneurs secure capital.
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Requires businesses receiving financial assistance to employ only U.S. citizens residing in the United States or individuals legally authorized to work under federal law, with penalties including repayment for violations.
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Allows unencumbered appropriated funds to carry over to the succeeding fiscal year rather than reverting to the general fund.
Legislative Description
A bill for an act relating to and making appropriations for the economic development of the state, including to the economic development authority, Iowa finance authority, department of workforce development, and state board of regents and certain regents institutions.(See SF 2485.)
Last Action
Committee report approving bill, renumbered as SF 2485.
4/8/2026