Text: HSB00203                          Text: HSB00205
Text: HSB00200 - HSB00299               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 204

Bill Text

PAG LIN
  1  1    Section 1.  Section 403.5, Code 2001, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  4A.  An urban renewal plan establishing an
  1  4 urban renewal area must be approved by the governing body of
  1  5 each affected taxing entity.  A municipality may proceed with
  1  6 establishment of the urban renewal area, but taxes divided
  1  7 pursuant to section 403.19 shall not include the taxes of any
  1  8 affected taxing entity that has not approved the plan.
  1  9    Sec. 2.  Section 403.5, Code 2001, is amended by adding the
  1 10 following new subsection:
  1 11    NEW SUBSECTION.  8.  An urban renewal area established
  1 12 pursuant to this section shall be limited in duration to
  1 13 twenty years counting from July 1 of the fiscal year in which
  1 14 the first payment was due on any loans, advances,
  1 15 indebtedness, or bonds which qualify for payment from the
  1 16 division of revenue provided in section 403.19.  However, the
  1 17 duration of an urban renewal area established before July 1,
  1 18 2001, shall be limited to twenty years counting from July 1 of
  1 19 the first fiscal year in which the municipality received
  1 20 moneys from a division of revenue pursuant to section 403.19,
  1 21 or shall end on June 30 of the fiscal year in which the amount
  1 22 of loans, advances, indebtedness, or bonds due and owing on
  1 23 the effective date of this Act is paid, whichever is later.
  1 24    Sec. 3.  Section 403.17, subsection 10, Code 2001, is
  1 25 amended to read as follows:
  1 26    10.  "Economic development area" means an area of a
  1 27 municipality designated by the local governing body as
  1 28 appropriate for commercial and industrial enterprises, public
  1 29 improvements related to housing and residential development,
  1 30 or construction of housing and residential development for low
  1 31 and moderate income families, including single or multifamily
  1 32 housing.  If an urban renewal plan for an urban renewal area
  1 33 is based upon a finding that the area is an economic
  1 34 development area and that no part contains slum or blighted
  1 35 conditions, then the division of revenue provided in section
  2  1 403.19 and stated in the plan shall be limited to twenty years
  2  2 from the calendar year following the calendar year in which
  2  3 the city first certifies to the county auditor the amount of
  2  4 any loans, advances, indebtedness, or bonds which qualify for
  2  5 payment from the division of revenue provided in section
  2  6 403.19.  Such designated area shall not include agricultural
  2  7 land, including land which is part of a century farm, unless
  2  8 the owner of the agricultural land or century farm agrees to
  2  9 include the agricultural land or century farm in the urban
  2 10 renewal area.  For the purposes of this subsection, "century
  2 11 farm" means a farm in which at least forty acres of such farm
  2 12 have been held in continuous ownership by the same family for
  2 13 one hundred years or more.
  2 14    Sec. 4.  Section 403.19, Code 2001, is amended by adding
  2 15 the following new subsection:
  2 16    NEW SUBSECTION.  7.  As used in this section,
  2 17 "indebtedness" includes an agreement to abate or rebate
  2 18 property taxes to the owner of property newly constructed or
  2 19 improved as part of an urban renewal project.
  2 20    Sec. 5.  APPLICABILITY.  Section 1 of this Act applies to
  2 21 urban renewal plans approved by a municipality on or after
  2 22 July 1, 2001.  
  2 23                           EXPLANATION
  2 24    This bill makes various changes to the urban renewal law.
  2 25    The bill provides that the governing body of each affected
  2 26 taxing entity must approve an urban renewal plan.  An affected
  2 27 taxing entity is a city, community college, county, or school
  2 28 district that certifies for levy property taxes on property
  2 29 located in the urban renewal area.  A municipality may go
  2 30 forward with the urban renewal plan, but only the taxes of
  2 31 those entities that approved the plan may be divided.  This
  2 32 amendment applies to urban renewal plans approved by a
  2 33 municipality on or after July 1, 2001.
  2 34    The bill limits urban renewal areas to 20 years in
  2 35 duration.  Urban renewal areas in existence as of July 1,
  3  1 2001, will expire after 20 years or when indebtedness is
  3  2 retired, whichever is later.
  3  3    Finally, the bill provides that indebtedness for purposes
  3  4 of dividing taxes in an urban renewal area includes an
  3  5 agreement to abate or rebate taxes to owners of newly
  3  6 constructed or improved property located in the urban renewal
  3  7 area.  
  3  8 LSB 2648HC 79
  3  9 sc/cf/24
     

Text: HSB00203                          Text: HSB00205
Text: HSB00200 - HSB00299               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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