Text: HF00469 Text: HF00471 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 403.5, subsection 2, Code 2003, is 1 2 amended to read as follows: 1 3 2. The municipality may itself prepare or cause to be 1 4 prepared an urban renewal plan; or any person or agency, 1 5 public or private, may submit such a plan to a municipality. 1 6 Prior to its approval of an urban renewal plan, the local 1 7 governing body shall submit such plan to the planning 1 8 commission of the municipality, if any, for review and 1 9 recommendations as to its conformity with the general plan for 1 10 the development of the municipality as a whole. The planning 1 11 commission shall submit its written recommendations with 1 12 respect to the proposed urban renewal plan to the local 1 13 governing body within thirty days after receipt of the plan 1 14 for review. Upon receipt of the recommendations of the 1 15 planning commission or, if no recommendations are received 1 16 within the thirty days, then, without such recommendations, 1 17 and upon conclusion of the notice and consultation process 1 18 provided in this subsection, the local governing body may 1 19 proceed with the hearing on the proposed urban renewal plan 1 20 prescribed by subsection 3. 1 21Prior to its approval of anIf the proposed urban renewal 1 22 planwhichprovides for a division of revenue pursuant to 1 23 section 403.19, the municipality shall mail the proposed plan 1 24 by regular mail to the affected taxing entities on the same 1 25 day that the plan is submitted to the planning commission. 1 26 The municipality shall include with the proposed plan 1 27 notification of a consultation to be held between the 1 28 municipality and affected taxing entities prior to the public 1 29 hearing on the urban renewal plan and no earlier than ten days 1 30 and no later than fourteen days after mailing the notification 1 31 of the proposed plan to the affected taxing entities. Each 1 32 affected taxing entity may appoint a representative to attend 1 33 the consultation. The consultation may include a discussion 1 34 of the estimated growth in valuation of taxable property 1 35 included in the proposed urban renewal area, the fiscal impact 2 1 of the division of revenue on the affected taxing entities, 2 2 the estimated impact on the provision of services by each of 2 3 the affected taxing entities in the proposed urban renewal 2 4 area, and the duration of any bond issuance included in the 2 5 plan. The designated representative of the affected taxing 2 6 entity may make written recommendations for modification to 2 7 the proposed division of revenue no later than seven days 2 8 following the date of the consultation. The representative of 2 9 the municipality shall, no later than seven days prior to the 2 10 public hearing on the urban renewal plan, submit a written 2 11 response to the affected taxing entity addressing the 2 12 recommendations for modification to the proposed division of 2 13 revenue. If the municipality and the affected taxing entities 2 14 fail to reach agreement on the recommendations for 2 15 modification, and the municipality adopts the urban renewal 2 16 plan, the municipality shall be allowed to retain no more than 2 17 fifty percent of the revenues allocated to the municipality 2 18 under section 403.19, subsection 2, pursuant to such plan. 2 19 Sec. 2. Section 403.19, subsection 2, Code 2003, is 2 20 amended to read as follows: 2 21 2.ThatExcept as otherwise provided in section 403.5, 2 22 subsection 2, that portion of the taxes each year in excess of 2 23 such amount shall be allocated to and when collected be paid 2 24 into a special fund of the municipality to pay the principal 2 25 of and interest on loans, moneys advanced to, or indebtedness, 2 26 whether funded, refunded, assumed, or otherwise, including 2 27 bonds issued under the authority of section 403.9, subsection 2 28 1, incurred by the municipality to finance or refinance, in 2 29 whole or in part, an urban renewal project within the area, 2 30 and to provide assistance for low and moderate income family 2 31 housing as provided in section 403.22, except that taxes for 2 32 the regular and voter-approved physical plant and equipment 2 33 levy of a school district imposed pursuant to section 298.2 2 34 and taxes for the payment of bonds and interest of each taxing 2 35 district must be collected against all taxable property within 3 1 the taxing district without limitation by the provisions of 3 2 this subsection. However, all or a portion of the taxes for 3 3 the physical plant and equipment levy shall be paid by the 3 4 school district to the municipality if the auditor certifies 3 5 to the school district by July 1 the amount of such levy that 3 6 is necessary to pay the principal and interest on bonds issued 3 7 by the municipality to finance an urban renewal project, which 3 8 bonds were issued before July 1, 2001. Indebtedness incurred 3 9 to refund bonds issued prior to July 1, 2001, shall not be 3 10 included in the certification. Such school district shall pay 3 11 over the amount certified by November 1 and May 1 of the 3 12 fiscal year following certification to the school district. 3 13 Unless and until the total assessed valuation of the taxable 3 14 property in an urban renewal area exceeds the total assessed 3 15 value of the taxable property in such area as shown by the 3 16 last equalized assessment roll referred to in subsection 1, 3 17 all of the taxes levied and collected upon the taxable 3 18 property in the urban renewal area shall be paid into the 3 19 funds for the respective taxing districts as taxes by or for 3 20 the taxing districts in the same manner as all other property 3 21 taxes. When such loans, advances, indebtedness, and bonds, if 3 22 any, and interest thereon, have been paid, all moneys 3 23 thereafter received from taxes upon the taxable property in 3 24 such urban renewal area shall be paid into the funds for the 3 25 respective taxing districts in the same manner as taxes on all 3 26 other property. 3 27 Sec. 3. IMMEDIATE EFFECTIVE DATE. This Act, being deemed 3 28 of immediate importance, takes effect upon enactment. 3 29 EXPLANATION 3 30 This bill makes changes relating to the notification and 3 31 consultation procedures for urban renewal plans. 3 32 The bill provides that the municipality proposing an urban 3 33 renewal plan may not proceed with a public hearing on the plan 3 34 until the notification and consultation process has been 3 35 concluded. The bill requires that notification of a proposed 4 1 urban renewal plan and notice of a consultation with the 4 2 affected taxing entities on the plan shall be mailed to the 4 3 affected taxing entities on the same day that the proposed 4 4 plan is submitted to the planning commission of the 4 5 municipality. The bill provides that the consultation with 4 6 the affected taxing entities shall be held no earlier than 10 4 7 days and no later than 14 days after the notification is 4 8 mailed. 4 9 The bill also provides that if the municipality and the 4 10 affected taxing entities fail to reach agreement on the 4 11 recommendations for modification submitted by the affected 4 12 taxing entities, and the municipality adopts the urban renewal 4 13 plan, the municipality, under the plan, shall be allowed to 4 14 retain no more than 50 percent of the tax incremental revenues 4 15 allocated to the municipality. 4 16 The bill takes effect upon enactment. 4 17 LSB 2607HH 80 4 18 sc/cf/24
Text: HF00469 Text: HF00471 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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