House Journal: Page 1725: Monday, April 24, 2000
40 the area are vacant.
41 (4) The valuations of each class of property in
42 the designated area of the census tract is seventy-
43 five percent or less of the countywide average for
44 that classification based upon the most recent
45 valuations for property tax purposes.
46 (5) The area is a blighted area, as defined in
47 section 403.17.
48 b. The department shall not approve more than five
49 enterprise zones designated under this subsection
50 prior to July 1, 2001."
Page 3
1 5. Page 4, by striking lines 3 through 7 and
2 inserting the following:
3 "NEW PARAGRAPH. e. Information showing the total
4 costs and sources of project financing that will be
5 utilized for the new investment directly related to
6 housing for which the business is seeking approval for
7 a tax credit provided in subsection 6, paragraph "a"."
8 6. Page 4, by inserting after line 29 the
9 following:
10 "Sec. 3. Section 15E.193B, Code 1999, is amended
11 by adding the following new subsection:
12 NEW SUBSECTION. 9. The amount of the tax credits
13 determined pursuant to section 15E.193B, subsection 6,
14 paragraph "a", for each project shall be approved by
15 the department of economic development. The
16 department shall utilize the financial information
17 required to be provided under section 15E.193B,
18 subsection 5, paragraph "e", to determine the tax
19 credits allowed for each project. In determining the
20 amount of tax credits to be allowed for a project, the
21 department shall not include the portion of the
22 project cost financed through federal, state, and
23 local government tax credits, grants, and forgivable
24 loans."
25 7. Page 4, line 31, by striking the word
26 "subsections" and inserting the following:
27 "subsection".
28 8. By striking page 4, line 32, through page 5,
29 line 14.
30 9. By striking page 5, line 31, through page 8,
31 line 22.
32 10. Page 8, line 25, by striking the word and
33 figures "6, and 10" and inserting the following: "and
34 6".
35 11. Page 8, line 27, by inserting after the word
36 "date." the following: "Section 1 of this Act takes
37 effect July 1, 2001, and applies to tax years
© 2000 Cornell College and
League of Women Voters of Iowa
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