Text: H01066 Text: H01068 Text: H01000 - H01099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 349 as follows: 1 2 #1. Page 1, by inserting after line 27 the 1 3 following: 1 4 "Sec. . Section 15E.193B, subsection 2, Code 1 5 2001, is amended to read as follows: 1 6 2. An eligible housing business under this section 1 7 includes a housing developer, housing contractor, or 1 8 nonprofit organization that builds or rehabilitates a 1 9 minimum of four single-family homeswith a value,1 10after completion of the building or rehabilitation,1 11not exceeding one hundred twenty thousand dollars for1 12each homelocated in that part of a city or county in 1 13 which there is a designated enterprise zone or one 1 14 multiple dwelling unit building containing three or 1 15 more individual dwelling unitswith a total value per1 16unit, after completion of the building or1 17rehabilitation, not exceeding one hundred twenty1 18thousand dollarslocated in that part of a city or 1 19 county in which there is a designated enterprise zone. 1 20 Sec. . Section 15E.193B, subsection 6, 1 21 paragraph a, Code 2001, is amended to read as follows: 1 22 a. An eligible housing business may claim a tax 1 23 credit up to a maximum of ten percent of the new 1 24 investment which is directly related to the building 1 25 or rehabilitating of a minimum of four single-family 1 26 homes located in that part of a city or county in 1 27 which there is a designated enterprise zone or one 1 28 multiple dwelling unit building containing three or 1 29 more individual dwelling units located in that part of 1 30 a city or county in which there is a designated 1 31 enterprise zone. The new investment that may be used 1 32 to compute the tax credit shall not exceed the new 1 33 investment used for the first one hundred forty 1 34 thousand dollars of value for each single-family home 1 35 or for each unit of a multiple dwelling unit building 1 36 containing three or more units. The tax credit may be 1 37 used to reduce the tax liability imposed under chapter 1 38 422, division II, III, or V. Any credit in excess of 1 39 the tax liability for the tax year may be credited to 1 40 the tax liability for the following seven years or 1 41 until depleted, whichever occurs earlier. If the 1 42 business is a partnership, S corporation, limited 1 43 liability company, or estate or trust electing to have 1 44 the income taxed directly to the individual, an 1 45 individual may claim the tax credit allowed. The 1 46 amount claimed by the individual shall be based upon 1 47 the pro rata share of the individual's earnings of the 1 48 partnership, S corporation, limited liability company, 1 49 or estate or trust." 1 50 #2. Page 5, by inserting after line 28 the 2 1 following: 2 2 "Sec. . Section 15E.194, subsection 4, Code 2 3 2001, is amended to read as follows: 2 4 4. A city of any size or any county may designate 2 5 an enterprise zone at any time prior to July 1, 2010, 2 6 when a business closure occurs involving the loss of 2 7 full-time employees, not including retail employees, 2 8 at one place of business totaling at least one 2 9 thousand employees or four percent or more of the 2 10 county's resident labor force based on the most recent 2 11 annual resident labor force statistics from the 2 12 department of workforce development, whichever is 2 13 lower. The enterprise zone may be established on the 2 14 property of the place of business that has closed and 2 15 the enterprise zone may include an area up to an 2 16 additionalone milefive miles adjacent to the 2 17 property. The area meeting the requirements for 2 18 enterprise zone eligibility under this subsection 2 19 shall not be included for the purpose of determining 2 20 the area limitation pursuant to section 15E.192, 2 21 subsection 4. The area included in an enterprise zone 2 22 designated under this subsection on or after June 1, 2 23 2000, may be amended to change the boundaries of the 2 24 enterprise zone. Such an amendment must be approved 2 25 by the department within three years of the date the 2 26 enterprise zone was certified." 2 27 #3. By renumbering as necessary. 2 28 2 29 2 30 2 31 JENKINS of Black Hawk 2 32 HF 349.201 79 2 33 tm/gg
Text: H01066 Text: H01068 Text: H01000 - H01099 Text: H Index Bills and Amendments: General Index Bill History: General Index
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