Text: S05149 Text: S05151 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend House File 686, as amended, passed, and 1 2 reprinted by the House, as follows: 1 3 #1. By striking everything after the enacting 1 4 clause and inserting the following: 1 5 "Section 1. Section 11.6, subsection 1, paragraph 1 6 a, unnumbered paragraph 1, Code 2003, is amended to 1 7 read as follows: 1 8 The financial condition and transactions of all 1 9 cities and city offices, counties, county hospitals 1 10 organized under chapters 347 and 347A, memorial 1 11 hospitals organized under chapter 37, entities 1 12 organized under chapter 28E having gross receipts in 1 13 excess of one hundred thousand dollars in a fiscal 1 14 year, merged areas, area education agencies, and all 1 15 school offices in school districts, shall be examined 1 16 at least once each year, except that cities having a 1 17 population of seven hundred or more but less than two 1 18 thousand shall be examined at least once every four 1 19 years, and cities having a population of less than 1 20 seven hundred may be examined as otherwise provided in 1 21 this section. However, a city having a population of 1 22 less than two thousand shall be examined every other 1 23 year for fiscal years ending on or after June 30, 1 24 2004, if, pursuant to an urban renewal plan adopted by 1 25 the city, the city had taxable valuation described in 1 26 section 403.19, subsection 2, of one million or more 1 27 dollars in one or both of the fiscal years. 1 28 PARAGRAPH DIVIDED. The examination shall cover the 1 29 fiscal year next preceding the year in which the audit 1 30 is conducted. The examination of school offices shall 1 31 include an audit of all school funds, the certified 1 32 annual financial report, and the certified enrollment 1 33 as provided in section 257.6. Differences in 1 34 certified enrollment shall be reported to the 1 35 department of management. 1 36 Sec. 2. Section 331.434, subsection 1, Code 2003, 1 37 is amended by adding the following new unnumbered 1 38 paragraph: 1 39 NEW UNNUMBERED PARAGRAPH. A budget shall include a 1 40 statement containing all of the following: 1 41 The amounts certified by the county to the county 1 42 auditor pursuant to section 403.19, subsection 5, for 1 43 the following fiscal year. 1 44 A listing of urban renewal projects for which such 1 45 amounts were certified and the amounts to be expended 1 46 on each project. 1 47 Notification that the annual urban renewal report 1 48 completed pursuant to section 403.23 is available for 1 49 public inspection and reproduction at the county 1 50 auditor's office. 2 1 Sec. 3. Section 384.16, subsection 1, Code 2003, 2 2 is amended by adding the following new unnumbered 2 3 paragraph: 2 4 NEW UNNUMBERED PARAGRAPH. A budget shall include a 2 5 statement containing all of the following: 2 6 The amounts certified by the city to the county 2 7 auditor pursuant to section 403.19, subsection 5, for 2 8 the following fiscal year. 2 9 A listing of urban renewal projects for which such 2 10 amounts were certified and the amounts to be expended 2 11 on each project. 2 12 Notification that the annual urban renewal report 2 13 completed pursuant to section 403.23 is available for 2 14 public inspection and reproduction at the county 2 15 auditor's office. 2 16 Sec. 4. NEW SECTION. 403.3A MUNICIPAL TAX 2 17 INCREMENT FINANCING POLICY. 2 18 1. Except as otherwise provided in subsection 2, 2 19 before a municipality adopts an urban renewal plan, a 2 20 municipality shall adopt a tax increment financing 2 21 policy. The policy shall describe the municipality's 2 22 plan for using revenue generated from a division of 2 23 revenue under section 403.19 for property located in 2 24 the area of operation of the municipality designated 2 25 as an urban renewal area. The policy shall contain, 2 26 but not be limited to, the following: 2 27 a. The designation of the urban renewal area and 2 28 the type of urban renewal projects for which the 2 29 municipality may pay revenues from the special fund in 2 30 section 403.19, subsection 2. 2 31 b. When an affected taxing entity will be 2 32 consulted, including when an urban renewal project is 2 33 identified and before revenue is obligated from the 2 34 special fund in section 403.19, subsection 2, to 2 35 finance the urban renewal project. 2 36 c. The geographic areas or the maximum amount of 2 37 taxable valuation associated with property for which a 2 38 division of revenue under section 403.19 may be 2 39 provided. 2 40 d. The circumstances under which tax revenues will 2 41 not be divided pursuant to section 403.19, and will 2 42 not be allocated to the special fund under section 2 43 403.19, subsection 2, and the circumstances under 2 44 which tax revenues will be paid into the funds for the 2 45 respective taxing districts in the same manner as 2 46 taxes on all other property. 2 47 e. All available public financing mechanisms for 2 48 urban renewal projects. 2 49 f. Restrictions the municipality will place on 2 50 urban renewal projects relating to a business which is 3 1 or will be located in the area of operation of a 3 2 municipality if the business has closed or reduced its 3 3 operation in one area of the state and relocated 3 4 substantially the same operation into the area of 3 5 operation of the municipality. 3 6 g. Goals related to returns on investment for each 3 7 urban renewal project. 3 8 h. Job creation and capital investment 3 9 requirements associated with each urban renewal 3 10 project for which revenues may be obligated from the 3 11 special fund in section 403.19, subsection 2. 3 12 2. a. If a municipality does not have an urban 3 13 renewal plan in effect on the effective date of this 3 14 Act, the municipality shall not adopt an urban renewal 3 15 plan until a tax increment financing policy has been 3 16 adopted for the area of operation of the municipality. 3 17 b. If a municipality has an urban renewal plan in 3 18 effect on the effective date of this Act, the 3 19 municipality shall not, on or after January 1, 2005, 3 20 adopt another urban renewal plan, amend an urban 3 21 renewal plan to pledge revenues pursuant to a written 3 22 agreement for payment of new obligations payable from 3 23 the special fund in section 403.19, subsection 2, 3 24 unless the municipality has adopted a tax increment 3 25 financing policy for the area of operation of the 3 26 municipality. 3 27 c. A municipality and its representatives shall 3 28 act consistently with the municipality's tax increment 3 29 financing policy when applying this chapter. 3 30 3. a. A municipality shall mail a proposed tax 3 31 increment financing policy by regular mail to the 3 32 affected taxing entities no later than thirty-five 3 33 days prior to adoption of a tax increment financing 3 34 policy or an amendment to such a policy. The 3 35 municipality shall include with the proposed policy 3 36 notification of a consultation to be held between the 3 37 municipality and the affected taxing entities prior to 3 38 final adoption of the policy. Each affected taxing 3 39 entity may appoint a representative to attend the 3 40 consultation. The municipality and the affected 3 41 taxing entities shall negotiate in good faith to reach 3 42 an agreement on the policy. The affected taxing 3 43 entity may make written recommendations for 3 44 modification to the proposed policy no later than 3 45 fourteen days following the date of the consultation. 3 46 The municipality shall submit a written response to 3 47 the affected taxing entity addressing the 3 48 recommendations for modification to the proposed 3 49 policy. 3 50 b. After reaching an agreement with the 4 1 municipality on the policy, the proposed policy may be 4 2 approved in final form by a resolution adopted by the 4 3 governing board of the affected taxing entity within 4 4 thirty days of receiving a copy of the proposed 4 5 policy. If a resolution approving the proposed policy 4 6 is received from each affected taxing entity, the 4 7 governing body of the municipality may proceed to 4 8 adopt the proposed policy. 4 9 c. If the municipality and the affected taxing 4 10 entity are unable to reach an agreement after 4 11 negotiating in good faith, or if one or more 4 12 resolutions rejecting the proposed policy is received, 4 13 or if the governing board of an affected taxing entity 4 14 takes no action, the municipality may adopt the 4 15 proposed policy after conducting a public hearing held 4 16 pursuant to this paragraph. The municipality shall 4 17 provide notice of the public hearing to the appointed 4 18 representative of each affected taxing entity. The 4 19 municipality shall also provide notice of the public 4 20 hearing in a newspaper of general circulation in the 4 21 area of operation of the municipality meeting the 4 22 requirements of section 618.14, not less than four nor 4 23 more than twenty days prior to the public hearing. 4 24 The notice shall include but not be limited to the 4 25 date, time, and place of hearing, the availability of 4 26 an opportunity to provide comment on the proposed tax 4 27 increment financing policy, and where the general 4 28 public may obtain a copy of the proposed policy and 4 29 where the policy, or a summary of the policy, will be 4 30 posted for public viewing. 4 31 4. Any amendments to a tax increment financing 4 32 policy shall be adopted by the same procedure as the 4 33 original policy as described in this section. 4 34 5. For purposes of this section only, "affected 4 35 taxing entity" means a county or school district if 4 36 the municipality is a city, and a school district if 4 37 the municipality is a county. 4 38 Sec. 5. Section 403.5, subsection 4, paragraph b, 4 39 subparagraph (1), subparagraph subdivision (b), Code 4 40 2003, is amended to read as follows: 4 41 (b) That conditions of slum or blight in the 4 42 municipality and the shortage of decent, safe and 4 43 sanitary housing cause or contribute to an increase in 4 44 and spread of disease and crime, so as to constitute a 4 45 menace to the public health, safety, morals, or 4 46 welfare. 4 47 Sec. 6. Section 403.5, subsections 5 and 6, Code 4 48 2003, are amended to read as follows: 4 49 5. An urban renewal plan may bemodifiedamended 4 50 at any time: Provided, that ifmodifiedamended after 5 1 the lease or sale by the municipality of real property 5 2 in the urban renewal project area, suchmodification5 3 amendment may be conditioned upon such approval of the 5 4 owner, lessee, or successor in interest as the 5 5 municipality may deem advisable, and in any event such 5 6modificationamendment shall be subject to such rights 5 7 at law or in equity as a lessee or purchaser, or a 5 8 lessee's or purchaser's successor or successors in 5 9 interest, may be entitled to assert. 5 10 PARAGRAPH DIVIDED.TheTerritory may be added to, 5 11 or severed from, an urban renewal area only by an 5 12 amendment to the urban renewal plan. When amending an 5 13 urban renewal plan, the municipality shall comply with 5 14 the notification and consultation process provided in 5 15 this section prior to the approval of any amendmentor5 16modificationto an adopted urban renewal plan if such 5 17 amendmentor modificationprovides for refunding bonds 5 18 or refinancing resulting in an increase in debt 5 19 service or provides for the issuance of bonds or other 5 20 indebtedness, to be funded primarily in the manner 5 21 provided in section 403.19, or if such amendment 5 22 proposes to add territory to an urban renewal area or 5 23 proposes to sever territory from an urban renewal 5 24 area. 5 25 6. Upon the approval by a municipality of an urban 5 26 renewal plan or of anymodification thereofamendment 5 27 to an urban renewal plan, such plan ormodification5 28 amendment shall be deemed to be in full force and 5 29 effect for the respective urban renewal area, and the 5 30 municipality may then cause such plan ormodification5 31 amendment to be carried out in accordance with its 5 32 terms. No later than fourteen days before the 5 33 governing body of the municipality takes action on a 5 34 proposed project, the municipality shall notify 5 35 affected taxing entities of the proposed project and 5 36 the amount of tax increment financing the project is 5 37 estimated to receive. 5 38 Sec. 7. Section 403.5, Code 2003, is amended by 5 39 adding the following new subsections: 5 40 NEW SUBSECTION. 8. An urban renewal area 5 41 designated as a slum or blighted area and established 5 42 before the effective date of this Act is limited to 5 43 twenty years in duration counting from the effective 5 44 date of this Act. An urban renewal area designated as 5 45 a slum or blighted area established on or after the 5 46 effective date of this Act is limited in duration to 5 47 twenty years counting from July 1 of the first fiscal 5 48 year in which the municipality receives moneys from a 5 49 division of revenue pursuant to section 403.19. An 5 50 amendment to an urban renewal plan shall not result in 6 1 an extension of the durational limitation imposed in 6 2 this subsection. 6 3 NEW SUBSECTION. 9. An urban renewal area 6 4 designated as an economic development area shall be 6 5 limited in duration to twenty years counting from July 6 6 1 of the first fiscal year in which the municipality 6 7 receives moneys from a division of revenue pursuant to 6 8 section 403.19. An amendment to an urban renewal plan 6 9 shall not result in an extension of the durational 6 10 limitation imposed in this subsection. 6 11 Sec. 8. Section 403.6, subsection 6, unnumbered 6 12 paragraph 1, Code Supplement 2003, is amended to read 6 13 as follows: 6 14 Within its area of operation, to make or have made 6 15 all surveys and planning necessary to the carrying out 6 16 of the purposes of this chapter, and to contract with 6 17 any person in making and carrying out of such 6 18 planning, and to adopt or approve,modifyand amend 6 19 such planning. Such planning may include, without 6 20 limitation: 6 21 Sec. 9. Section 403.6, subsection 6, paragraph b, 6 22 Code Supplement 2003, is amended to read as follows: 6 23 b. Urban renewal plans adopted, or amended, 6 24 pursuant to the requirements of section 403.5; 6 25 Sec. 10. Section 403.6, subsection 12, Code 6 26 Supplement 2003, is amended to read as follows: 6 27 12. To approve and amend urban renewal plans, 6 28 subject to the requirements of section 403.5. 6 29 Sec. 11. Section 403.14, subsection 2, paragraph 6 30 b, Code 2003, is amended to read as follows: 6 31 b. The power to approve urban renewal plans and 6 32modificationsamendments thereof; 6 33 Sec. 12. Section 403.17, subsection 10, Code 2003, 6 34 is amended to read as follows: 6 35 10. "Economic development area" means an area of a 6 36 municipality designated by the local governing body as 6 37 appropriate for commercial and industrial enterprises, 6 38 public improvements related to housing and residential 6 39 development, or construction of housing and 6 40 residential development for low and moderate income 6 41 families, including single or multifamily housing.If6 42an urban renewal plan for an urban renewal area is6 43based upon a finding that the area is an economic6 44development area and that no part contains slum or6 45blighted conditions, then the division of revenue6 46provided in section 403.19 and stated in the plan6 47shall be limited to twenty years from the calendar6 48year following the calendar year in which the6 49municipality first certifies to the county auditor the6 50amount of any loans, advances, indebtedness, or bonds7 1which qualify for payment from the division of revenue7 2provided in section 403.19.Such designated area 7 3 shall not include agricultural land, including land 7 4 which is part of a century farm, unless the owner of 7 5 the agricultural land or century farm agrees to 7 6 include the agricultural land or century farm in the 7 7 urban renewal area. For the purposes of this 7 8 subsection, "century farm" means a farm in which at 7 9 least forty acres of such farm have been held in 7 10 continuous ownership by the same family for one 7 11 hundred years or more. 7 12 Sec. 13. Section 403.17, Code 2003, is amended by 7 13 adding the following new subsection: 7 14 NEW SUBSECTION. 12A. "Indebtedness" includes, but 7 15 is not limited to, a written agreement to suspend, 7 16 abate, exempt, rebate, refund, or reimburse property 7 17 taxes or to provide a grant for property taxes paid. 7 18 Sec. 14. Section 403.17, subsection 25, Code 2003, 7 19 is amended by adding the following new unnumbered 7 20 paragraph: 7 21 NEW UNNUMBERED PARAGRAPH. An urban renewal project 7 22 located in an urban renewal area designated as an 7 23 economic development area shall not include the 7 24 construction, expansion, or maintenance of a 7 25 government building, including, but not limited to, a 7 26 city hall, city or county offices, fire station, law 7 27 enforcement building, city or county administration 7 28 building, prison, jail, correctional institution, road 7 29 maintenance building or storage facility, library, or 7 30 community center. 7 31 Sec. 15. Section 403.19, subsection 1, paragraph 7 32 b, Code 2003, is amended to read as follows: 7 33 b. For the purpose of allocating taxes levied by 7 34 or for any taxing district which did not include the 7 35 territory in an urban renewal area on the effective 7 36 date of the ordinance or initial adoption of the plan, 7 37 but to which the territory has been annexed or 7 38 otherwise included after the effective date, the 7 39 assessment roll applicable to property in the annexed 7 40 territory as of January 1 of the calendar year 7 41 preceding the effective date of the amendment of the 7 42 ordinance, which amends the plan to include the 7 43 annexed area, shall be used in determining the 7 44 assessed valuation of the taxable property in the 7 45 annexed area. 7 46 Sec. 16. Section 403.19, subsection 2, Code 2003, 7 47 is amended to read as follows: 7 48 2. That portion of the taxes each year in excess 7 49 of such amount shall be allocated to and when 7 50 collected be paid into a special fund of the 8 1 municipality to pay the principal of and interest on 8 2 loans, moneys advanced to, or indebtedness, whether 8 3 funded, refunded, assumed, or otherwise, including 8 4 bonds issued under the authority of section 403.9, 8 5 subsection 1, incurred by the municipality to finance 8 6 or refinance, in whole or in part, an urban renewal 8 7 project within the area, and to provide assistance for 8 8 low and moderate income family housing as provided in 8 9 section 403.22, except that. However, taxes for the 8 10 regular and voter-approved physical plant and 8 11 equipment levy of a school district imposed pursuant 8 12 to section 298.2,andtaxes for the payment of bonds 8 13 and interest of each taxing districtmust, and the 8 14 foundation property tax imposed pursuant to section 8 15 257.3, subsection 1, but only as provided in 8 16 subsection 8, shall be collected against all taxable 8 17 property within the taxing district without limitation 8 18 by the provisions of this subsection.HoweverIn 8 19 addition, all or a portion of the taxes for the 8 20 physical plant and equipment levy shall be paid by the 8 21 school district to the municipality if the auditor 8 22 certifies to the school district by July 1 the amount 8 23 of such levy that is necessary to pay the principal 8 24 and interest on bonds issued by the municipality to 8 25 finance an urban renewal project, which bonds were 8 26 issued before July 1, 2001. Indebtedness incurred to 8 27 refund bonds issued prior to July 1, 2001, shall not 8 28 be included in the certification. Such school 8 29 district shall pay over the amount certified by 8 30 November 1 and May 1 of the fiscal year following 8 31 certification to the school district. Unless and 8 32 until the total assessed valuation of the taxable 8 33 property in an urban renewal area exceeds the total 8 34 assessed value of the taxable property in such area as 8 35 shown by the last equalized assessment roll referred 8 36 to in subsection 1, all of the taxes levied and 8 37 collected upon the taxable property in the urban 8 38 renewal area shall be paid into the funds for the 8 39 respective taxing districts as taxes by or for the 8 40 taxing districts in the same manner as all other 8 41 property taxes.When such loans, advances,8 42indebtedness, and bonds, if any, and interest thereon,8 43have been paid, all moneys thereafter received from8 44taxes upon the taxable property in such urban renewal8 45area shall be paid into the funds for the respective8 46taxing districts in the same manner as taxes on all8 47other property.8 48 Sec. 17. Section 403.19, Code 2003, is amended by 8 49 adding the following new subsection: 8 50 NEW SUBSECTION. 3A. When all loans, advances, 9 1 indebtedness, and bonds, if any, and interest thereon, 9 2 have been paid, revenues from taxes levied on taxable 9 3 property in an urban renewal area shall not be divided 9 4 pursuant to this section and shall not be deposited in 9 5 the special fund under subsection 2, but shall be paid 9 6 to the respective taxing districts in the same manner 9 7 as taxes on all other property. 9 8 Sec. 18. Section 403.19, subsection 5, Code 2003, 9 9 is amended to read as follows: 9 10 5. A municipality shall certify to the county 9 11 auditor on or before December 1 of each year the 9 12 amount of loans, advances, indebtedness, or bonds 9 13 which qualify for payment during the fiscal year 9 14 beginning in the following calendar year from the 9 15 special fund referred to in subsection 2, and the 9 16 filing of the certificate shall make it a duty of the 9 17 auditor to provide for the division of taxes ineach9 18subsequentthe amount certified for the fiscal year 9 19until the amount of the loans, advances, indebtedness,9 20or bonds is paid to the special fundbeginning in the 9 21 following calendar year. The municipality shall 9 22 include in the certification the total amount, as of 9 23 December 1, of loans, advances, indebtedness, or bonds 9 24 which qualifies for payment from the special fund. 9 25 The municipality shall not include in the 9 26 certification any amount that is not pledged to be 9 27 paid under subsection 3, pursuant to a written 9 28 agreement, for a specific urban renewal project. In 9 29 any year, the county auditor shall, upon receipt of a 9 30 certified request from a municipality filed on or 9 31 before December 1, increase the amount to be allocated 9 32 under subsection 1 in order to reduce the amount to be 9 33 allocated in the following fiscal year to the special 9 34 fund, to the extent that the municipality does not 9 35 request allocation to the special fund of the full 9 36 portion of taxes which could be collected and to the 9 37 extent that the request is consistent with the amount 9 38 certified for the fiscal year. Upon receipt of a 9 39 certificate from a municipality, the auditor shall 9 40 mail a copy of the certificate to each affected taxing 9 41 district. 9 42 Sec. 19. Section 403.19, Code 2003, is amended by 9 43 adding the following new subsection: 9 44 NEW SUBSECTION. 8. For urban renewal plans 9 45 adopted on or after the effective date of this Act, 9 46 taxes collected under subsection 2 shall not include 9 47 the foundation property tax imposed pursuant to 9 48 section 257.3, subsection 1. 9 49 For urban renewal plans adopted before the 9 50 effective date of this Act, taxes collected under 10 1 subsection 2 shall not include the foundation property 10 2 tax imposed pursuant to section 257.3, subsection 1, 10 3 for fiscal years beginning on or after July 1, 2014. 10 4 Sec. 20. Section 403.20, Code Supplement 2003, is 10 5 amended to read as follows: 10 6 403.20 PERCENTAGE OF ADJUSTMENT CONSIDERED IN 10 7 VALUE ASSESSMENT. 10 8 1.InExcept as otherwise provided in subsection 10 9 2, in determining the assessed value of property 10 10 within an urban renewal area which is subject to a 10 11 division of tax revenues pursuant to section 403.19, 10 12 the difference between the actual value of the 10 13 property as determined by the assessor each year and 10 14 the percentage of adjustment certified for that year 10 15 by the director of revenue on or before November 1 10 16 pursuant to section 441.21, subsection 9, multiplied 10 17 by the actual value of the property as determined by 10 18 the assessor, shall be subtracted from the actual 10 19 value of the property as determined pursuant to 10 20 section 403.19, subsection 1. If the assessed value 10 21 of the property as determined pursuant to section 10 22 403.19, subsection 1, is reduced to zero, the 10 23 additional valuation reduction shall be subtracted 10 24 from the actual value of the property as determined by 10 25 the assessor. 10 26 2. This subsection applies to urban renewal areas 10 27 established pursuant to an urban renewal plan adopted 10 28 on or after July 1, 2005, and any amendments thereto, 10 29 and to territory amended into an urban renewal area 10 30 established pursuant to an urban renewal plan adopted 10 31 before July 1, 2005, if such amendment adding 10 32 territory was adopted on or after July 1, 2005. In 10 33 determining the assessed value of property within an 10 34 urban renewal area which is subject to a division of 10 35 tax revenues pursuant to section 403.19, the 10 36 difference between the actual value of the property as 10 37 determined by the assessor each year and the 10 38 percentage of adjustment certified for that year by 10 39 the director of revenue on or before November 1 10 40 pursuant to section 441.21, subsection 9, multiplied 10 41 by the actual value of the property as determined by 10 42 the assessor, shall be subtracted from the actual 10 43 value of the property in the ratio that the amount of 10 44 the property value as determined pursuant to section 10 45 403.19, subsection 1, bears to the total value of the 10 46 property, and in the ratio that the amount of the 10 47 property value as determined in section 403.19, 10 48 subsection 2, bears to the total value of the 10 49 property. If the assessed value of the property as 10 50 determined pursuant to section 403.19, subsection 1, 11 1 is reduced to zero, the additional valuation reduction 11 2 shall be subtracted from the actual value of the 11 3 property as determined in section 403.19, subsection 11 4 2. 11 5 Sec. 21. Section 403.23, subsection 1, Code 11 6 Supplement 2003, is amended by striking the subsection 11 7 and inserting in lieu thereof the following: 11 8 1. On or before December 1 of each calendar year, 11 9 the municipality shall submit a financial report 11 10 containing the information required in section 403.15, 11 11 subsection 5, for the most recently ended fiscal year 11 12 to the department of management and to the county 11 13 auditor of the county in which the municipality is 11 14 located. In addition to the information contained in 11 15 the report, the municipality shall provide the 11 16 following information annually to the department and 11 17 to the county auditor for the most recently ended 11 18 fiscal year: 11 19 a. A description of each urban renewal area 11 20 including but not limited to the following: 11 21 (1) Whether a tax increment financing policy has 11 22 been adopted for the municipality as required by 11 23 section 403.3A, and whether an urban renewal policy 11 24 has been adopted for the municipality and the date 11 25 each such policy was finally adopted by the governing 11 26 body of the municipality. 11 27 (2) The geographical location of the urban renewal 11 28 area, the school district in which the urban renewal 11 29 area is located, and the size, in acres, of the urban 11 30 renewal area. 11 31 (3) The designation under which the urban renewal 11 32 area was established. 11 33 (4) The establishment date of the urban renewal 11 34 area and the date that the urban renewal area, or the 11 35 plan for the area, is set to expire. 11 36 (5) The fiscal year that revenues were first 11 37 divided under section 403.19. 11 38 (6) A summary of any amendments to the urban 11 39 renewal plan which amendments were adopted during the 11 40 fiscal year for which the report is being prepared. 11 41 b. A listing and description of each urban renewal 11 42 project within each urban renewal area. The 11 43 description shall include but not be limited to the 11 44 following: 11 45 (1) A list of the projects that involve 11 46 construction of, or improvements to, low and moderate 11 47 income housing and the amount of incremental funding 11 48 expended for such projects in the fiscal year for 11 49 which the report is being prepared. 11 50 (2) The date that the municipality first certified 12 1 to the county auditor the amount of any loans, 12 2 advances, indebtedness, or bonds which qualifies for 12 3 payment from the division of revenue provided in 12 4 section 403.19 for the urban renewal project. 12 5 (3) A description of the use for the incremental 12 6 funding expended for the project in the fiscal year 12 7 for which the report is being prepared. 12 8 (4) The type, duration, total amount, and payment 12 9 schedule of obligations pledged under section 403.19, 12 10 subsection 3, pursuant to a written agreement, for the 12 11 fiscal year for which the report is being prepared and 12 12 the retirement date for those obligations. 12 13 (5) The amount of revenue allocated and paid 12 14 pursuant to section 403.19, subsection 2, that will be 12 15 used to satisfy the obligations pledged under section 12 16 403.19, subsection 3, pursuant to a written agreement, 12 17 for the fiscal year commencing the following July 1. 12 18 (6) The total amount of the obligation for payment 12 19 on loans, advances, bonds issued under the authority 12 20 of section 403.9, subsection 1, or section 403.12, 12 21 subsection 5, or indebtedness incurred by a 12 22 municipality to finance or refinance, in whole or in 12 23 part, the urban renewal project within the area for 12 24 the fiscal year for which the report is being 12 25 prepared. 12 26 (7) The number of jobs retained, new jobs created, 12 27 and the total payroll for jobs retained and created 12 28 for each urban renewal project in the fiscal year for 12 29 which the report is being prepared. 12 30 (8) The amount of new capital investment in the 12 31 urban renewal area for each urban renewal project in 12 32 the fiscal year for which the report is being 12 33 prepared. 12 34 c. For each urban renewal area, the following: 12 35 (1) The total amount of assessed valuation of 12 36 taxable property located in the urban renewal area for 12 37 the assessment year beginning January 1 of the 12 38 calendar year prior to the calendar year in which the 12 39 most recently ended fiscal year commences. 12 40 (2) The base valuation of the urban renewal area 12 41 in the assessment year that the base valuation was 12 42 established and designated pursuant to section 403.19, 12 43 subsection 1, for purposes of dividing revenue. 12 44 (3) The base valuation and the incremental 12 45 valuation for the assessment year beginning January 1 12 46 of the calendar year prior to the calendar year in 12 47 which the most recently ended fiscal year commences 12 48 and the portion of those valuations that are 12 49 classified as residential property. 12 50 (4) The portion of incremental valuation used for 13 1 urban renewal purposes and the portion released to the 13 2 respective taxing districts for the fiscal year for 13 3 which the report is being prepared. 13 4 (5) The amount of revenue allocated and paid 13 5 pursuant to a division of revenue under section 13 6 403.19, subsections 1 and 2, for each urban renewal 13 7 area for the fiscal year for which the report is being 13 8 prepared. 13 9 (6) The amount of total revenue allocated and paid 13 10 pursuant to section 403.19, subsection 2, which has 13 11 been irrevocably pledged pursuant to section 403.19, 13 12 subsection 3, including, but not limited to, the 13 13 amount pledged for the payment of bonds issued under 13 14 the authority of section 403.9, subsection 1, and 13 15 section 403.12, subsection 5, for each urban renewal 13 16 area for the fiscal year for which the report is being 13 17 prepared. 13 18 (7) The total amount of revenue that was collected 13 19 pursuant to section 403.19, subsection 2, and paid 13 20 into the funds for the respective taxing districts in 13 21 the same manner as taxes on all other property for the 13 22 fiscal year for which the report is being prepared. 13 23 (8) The total amount of revenue held in reserve or 13 24 sinking funds, or any such funds not required for 13 25 immediate disbursement pursuant to section 403.6, 13 26 subsection 4, for the fiscal year for which the report 13 27 is being prepared and the planned use of such funds. 13 28 Sec. 22. Section 403.23, subsection 2, Code 13 29 Supplement 2003, is amended to read as follows: 13 30 2. a. The department of management shall compile 13 31 the information in the reports into one report for the 13 32 entire state. The compilation shall include the 13 33 population of the municipality and the county in which 13 34 the municipality is located if the municipality is a 13 35 city. 13 36 b. At the request of the legislative services 13 37 agency, the department of management shall provide to 13 38 the legislative services agency the compiled report, 13 39 the individual reports submitted by each municipality, 13 40 and such additional informationtoas requested by the 13 41 legislative services agency. The department of 13 42 management, in consultation with the legislative 13 43 services agency,shall determine reporting criteria13 44andshall prepare a form for reports filed with the 13 45 department pursuant to this section. The department 13 46 shall make the form available by electronic means. 13 47 Sec. 23. EFFECTIVE AND APPLICABILITY DATES. This 13 48 Act, being deemed of immediate importance, takes 13 49 effect upon enactment and applies to urban renewal 13 50 areas and urban renewal projects established, and 14 1 urban renewal plans adopted, before, on, or after the 14 2 effective date of this Act." 14 3 14 4 14 5 14 6 BRYAN J. SIEVERS 14 7 HF 686.211 80 14 8 sc/sh
Text: S05149 Text: S05151 Text: S05100 - S05199 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 2004 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Mar 30 11:35:57 CST 2004
URL: /DOCS/GA/80GA/Legislation/S/05100/S05150/040325.html
jhf