Text: HF00293 Text: HF00295 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 15E.193C, subsection 5, Code 2003, is 1 2 amended to read as follows: 1 3 5. Prior to applying for assistance under this section, an 1 4 eligible development business shall enter into an agreement 1 5 with at least one business for purposes of locating the 1 6 business in all or a portion of the building space for a 1 7 period of at least five years. Nonretail businesses locating 1 8 in a building space must create at least ten full-time 1 9 positions,and meet the criteria provided in section 15E.193, 1 10 subsection 1, paragraphs "a", "b", and "c", and not share1 11common ownership or common management with the development1 12business. A development business shall receive a pro rata 1 13 share of the total incentives and assistance available to the 1 14 development business based on the percentage of the building 1 15 that is leased to nonretail businesses. The department shall 1 16 determine the procedure for issuing the incentives and 1 17 assistance on a pro rata basis. 1 18 EXPLANATION 1 19 This bill relates to criteria for nonretail businesses 1 20 locating in building space developed by a development business 1 21 under the enterprise zone program. 1 22 Currently, prior to an eligible development business 1 23 applying for assistance under the program, the development 1 24 business must enter into an agreement with at least one 1 25 business for purposes of locating the business in all or a 1 26 portion of the building space. A nonretail business entering 1 27 into an agreement with the development business for purposes 1 28 of locating in the building space must meet certain specified 1 29 criteria. The bill eliminates a criterion prohibiting the 1 30 nonretail business and the development business from sharing 1 31 common ownership or common management. 1 32 LSB 2478HH 80 1 33 tm/sh/8
Text: HF00293 Text: HF00295 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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