House Study Bill 636 - Introduced SENATE/HOUSE FILE _____ BY (PROPOSED ECONOMIC DEVELOPMENT AUTHORITY BILL) A BILL FOR An Act relating to the innovation fund tax credit program of 1 the economic development authority, and including effective 2 date provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5426XD (5) 87 mm/rn

S.F. _____ H.F. _____ Section 1. Section 15E.52, subsection 8, Code 2018, is 1 amended to read as follows: 2 8. The board shall not certify an innovation fund after June 3 30, 2018 2023 . 4 Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate 5 importance, takes effect upon enactment. 6 EXPLANATION 7 The inclusion of this explanation does not constitute agreement with 8 the explanation’s substance by the members of the general assembly. 9 This bill relates to the innovation fund tax credit program 10 of the economic development authority (EDA), which provides tax 11 credits for investments in innovation funds that meet certain 12 requirements and that are certified by EDA. Current law 13 provides that EDA shall not certify an innovation fund after 14 June 30, 2018. The bill extends this date by five years to June 15 30, 2023. The bill takes effect upon enactment. 16 -1- LSB 5426XD (5) 87 mm/rn 1/ 1