Text: H08108 Text: H08110 Text: H08100 - H08199 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 2378 as follows: 1 2 #1. Page 3, line 31, by striking the figure "5", 1 3 and inserting the following: "2, 5,". 1 4 #2. Page 3, by inserting after line 32 the 1 5 following: 1 6 "2. An eligible development business includes a 1 7 developer or development contractor that constructs, 1 8 expands, or rehabilitates a building space within a 1 9 designated enterprise zone with a minimum capital 1 10 investment of at least five hundred thousand dollars 1 11in that part of a city or county in which there is a1 12designated enterprise zone. A development business is 1 13 eligible to receive incentives and assistance under 1 14 this section if businesses locating into the building 1 15 space have not closed or reduced its operation in one 1 16 area of the state or a city and relocated 1 17 substantially the same operation in the enterprise 1 18 zone. An eligible development business is eligible 1 19 for one, but not both, of the following exemptions to 1 20 the capital investment requirements: 1 21 a. For an eligible development business purchasing 1 22 a vacant building suitable for industrial use, the 1 23 fair market value of the building and land, not to 1 24 exceed two hundred fifty thousand dollars, as 1 25 determined by the local enterprise zone commission, 1 26 shall be deducted from the capital investment 1 27 requirement. 1 28 b. For an eligible development business that 1 29 rehabilitates a building space that has been in an 1 30 enterprise zone for at least five years, the fair 1 31 market value as established by an appraisal of the 1 32 building, not to exceed two hundred fifty thousand 1 33 dollars, shall be deducted from the capital investment 1 34 requirement." 1 35 #3. Page 4, by striking lines 2 through 6 and 1 36 inserting the following: "period of at least five 1 37 years. Nonretail businesses locating in a building 1 38 space must together occupy at least seventy-five 1 39 percent of the total building space, create at least 1 40 ten full-time positions, meet the criteria provided in 1 41 section 15E.193, subsection 1, paragraphs "a", "b", 1 42 and "c", and not share common ownership or common 1 43 management with the development business. The 1 44 development business shall only receive incentives and 1 45 assistance for the portion of the building that is 1 46 leased to nonretail businesses." 1 47 #4. Page 4, by inserting after line 11 the 1 48 following: 1 49 "Sec. ___. Section 15E.193C, Code Supplement 2001, 1 50 is amended by adding the following new subsection: 2 1 NEW SUBSECTION. 12. An approved development 2 2 business shall submit an annual report to the 2 3 department of economic development detailing and 2 4 certifying the number of signed leases, jobs created, 2 5 and total occupancy of the building. An approved 2 6 development business shall begin submitting annual 2 7 reports the year upon approval of the application and 2 8 shall continue to submit annual reports until 2 9 incentives and assistance provided pursuant to this 2 10 section are no longer received by the approved 2 11 development business." 2 12 #5. By renumbering as necessary. 2 13 2 14 2 15 2 16 JENKINS of Black Hawk 2 17 HF 2378.201 79 2 18 tm/sh
Text: H08108 Text: H08110 Text: H08100 - H08199 Text: H Index Bills and Amendments: General Index Bill History: General Index
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