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Text: S03798                            Text: S03800
Text: S03700 - S03799                   Text: S Index
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Senate Amendment 3799

Amendment Text

PAG LIN
  1  1    Amend House File 724, as amended, passed, and
  1  2 reprinted by the House, as follows:
  1  3    #1.  Page 3, by inserting after line 23 the
  1  4 following:
  1  5    "3. If a business has received incentives or
  1  6 assistance under section 15E.186 and fails to maintain
  1  7 the requirements of subsection 1 to be an eligible
  1  8 business, the business is subject to repayment of all
  1  9 or a portion of the incentives and assistance that it
  1 10 has received.  The city or county, as applicable,
  1 11 shall have the authority to take action to recover the
  1 12 value of taxes not collected as a result of the
  1 13 exemption provided by the community to the business.
  1 14 The department of revenue and finance shall have the
  1 15 authority to recover the value of state taxes or
  1 16 incentives provided under section 15E.186.  The value
  1 17 of state incentives provided under section 15E.186
  1 18 includes applicable interest and penalties.  The
  1 19 department of economic development and the city and
  1 20 county, as applicable, shall enter into agreement with
  1 21 the business specifying the method for determining the
  1 22 amount of incentives or assistance paid which will be
  1 23 repaid in the event of failure to maintain the
  1 24 requirements of subsection 1.  In addition, a business
  1 25 that fails to maintain the requirements of subsection
  1 26 1 shall not receive incentives or assistance for each
  1 27 year during which the business is not in compliance." 
  1 28 
  1 29 
  1 30                               
  1 31 TOM VILSACK 
  1 32 HF 724.316 77
  1 33 mg/cf/28
     
Text: S03798                            Text: S03800
Text: S03700 - S03799                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index
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