1. On or before December 1 of each year, the municipality shall submit an annual financial report containing the information required in section 403.15, subsection 5, to the department of management and to the county auditor of the county in which the municipality is located. In addition to the information contained in the report, the municipality shall provide the following information to the department and to the county auditor:
a. A listing and description of each project within an urban renewal area.
b. A description of the original purpose for establishing the urban renewal area.
c. The establishment date of the urban renewal area and the expiration date of the urban renewal area, if applicable, or otherwise, the term of the indebtedness.
d. The designation under which the urban renewal area was established.
e. The base year valuation of the urban renewal area.
f. The amount of incremental valuation in the urban renewal area.
g. A description of the use for the incremental funding.
h. The number of businesses that have located in each urban renewal area.
i. The number of urban renewal projects that have been completed in each urban renewal area.
j. The type and term length of financing for urban renewal projects.
k. The amount of loans, advances, indebtedness, or bonds which qualified for payment from the special fund for each urban renewal project in the preceding fiscal year.
l. The total of the amount specified in paragraph "k" for each urban renewal area located in the municipality.
2. At the request of the legislative fiscal bureau, the department of management shall provide the reports and additional information to the legislative fiscal bureau. The department of management, in consultation with the legislative fiscal bureau, shall determine reporting criteria for reports filed with the department pursuant to this section.
3. If a municipality does not file the annual report with the department of management and the county auditor by December 1, the county treasurer shall withhold disbursement of incremental taxes to the municipality until the annual report is filed beginning immediately with the next following disbursement of taxes. The county auditor shall notify the county treasurer if taxes are to be withheld.
99 Acts, ch 176, §1; 2000 Acts, ch 1158, §1, 2
Previous Section 403.22
Next Section 403A.1
© 2003 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 Jan 28 13:52:42 CST 2003
URL: /DOCS/IACODE/2003/403/23.html
jhf