Text: S03798 Text: S03800 Text: S03700 - S03799 Text: S Index Bills and Amendments: General Index Bill History: General Index
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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