Text: HF00538 Text: HF00540 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 15E.193B, subsection 2, Code 1999, is 1 2 amended to read as follows: 1 3 2. An eligible housing business under this section 1 4includes ashall meet one of the following criteria: 1 5 a. A housing developer or housing contractorthatbuilds 1 6 or rehabilitates a minimum of four single-family homes with a 1 7 value, after completion of the building or rehabilitation, not 1 8 exceeding one hundred twenty thousand dollars for each home 1 9 located in that part of a city or county in which there is a 1 10 designated enterprise zone or one multiple dwelling unit 1 11 building containing three or more individual dwelling units 1 12 with a total value per unit, after completion of the building 1 13 or rehabilitation, not exceeding one hundred twenty thousand 1 14 dollars located in that part of a city or county in which 1 15 there is a designated enterprise zone. 1 16 b. (1) A housing developer or housing contractor builds 1 17 or rehabilitates a minimum of four single-family homes with a 1 18 value, after completion of the building or rehabilitation, not 1 19 exceeding one hundred twenty thousand dollars for each home 1 20 located in a city meeting the criteria listed in section 1 21 15E.193A, subsection 1, paragraphs "b", "c", "e", and "f", or 1 22 one multiple dwelling unit building containing three or more 1 23 individual dwelling units with a total value per unit, after 1 24 completion of the building or rehabilitation, not exceeding 1 25 one hundred twenty thousand dollars located in a city meeting 1 26 the criteria listed in section 15E.193A, subsection 1, 1 27 paragraphs "b", "c", "e", and "f". 1 28 (2) Subsection 5 does not apply to a housing developer or 1 29 housing contractor qualifying under this paragraph "b". After 1 30 approval of a project by ordinance or resolution, a city shall 1 31 submit an application for incentives and assistance to the 1 32 department of economic development. As part of the 1 33 application, the city shall submit information relating to the 1 34 requirements listed in subparagraph (1) and in section 1 35 15E.193, subsection 2. The department may approve, defer, or 2 1 deny the application. 2 2 Sec. 2. Section 15E.193B, subsection 6, unnumbered 2 3 paragraph 1, Code 1999, is amended to read as follows: 2 4 An eligible housing business which has been approved to 2 5 receive incentives and assistance by the department of 2 6 economic development pursuant to application as provided in 2 7 subsection 2, paragraph "b", subparagraph (2), or section 2 8 15E.195 shall receive all of the following incentives and 2 9 assistance for a period not to exceed ten years: 2 10 EXPLANATION 2 11 This bill provides that a housing business building or 2 12 rehabilitating single-family homes or multiple dwelling unit 2 13 buildings in an enterprise zone may be able to receive 2 14 enterprise zone program incentives and assistance as an 2 15 eligible housing business if certain location criteria are 2 16 met. The bill provides that the building or rehabilitating 2 17 must take place in a city with a population between 8,000 and 2 18 24,000, in a city located not more than 35 miles from an 2 19 existing enterprise zone in this state or an equivalent zone 2 20 in an adjacent state, in an area with certain distress 2 21 criteria, and when the housing business receives approval from 2 22 the city in which the building or rehabilitating is located. 2 23 Upon approval by the city, the city shall apply for incentives 2 24 and assistance to the department of economic development. 2 25 LSB 2816HH 78 2 26 tm/sc/14
Text: HF00538 Text: HF00540 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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