Text: SF02027 Text: SF02029 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 403.17, subsection 13, Code 1995, is 1 2 amended to read as follows: 1 3 13. "Low or moderate income families" means those 1 4 families, including single person households, earning no more 1 5 thaneightyone hundred twenty percent of the higher of the 1 6 median family income of the county or the statewide 1 7 nonmetropolitan area as determined by the latest United States 1 8 department of housing and urban development, section 8 income 1 9 guidelines. 1 10 EXPLANATION 1 11 This bill changes the definition of low and moderate income 1 12 families for purposes of urban renewal from those families 1 13 with incomes of 80 percent or less of the median family income 1 14 as determined by the United States department of housing and 1 15 urban development (HUD) to those families with incomes of 120 1 16 percent or less of the HUD guidelines. Median family income 1 17 continues to be based on the higher of the median family 1 18 income in the county or the statewide nonmetropolitan area. 1 19 Because tax increment financing for housing is limited to low 1 20 and moderate income housing, this change has the effect of 1 21 increasing the maximum price of housing which may be built 1 22 through tax increment financing. 1 23 LSB 3328SS 76 1 24 mk/jw/5
Text: SF02027 Text: SF02029 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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