1. On or before December 1 of each odd-numbered year, each municipality that has established an urban renewal area shall report to the department of management and to the appropriate county auditor the total amount of loans, advances, indebtedness, or bonds outstanding at the close of the most recently ended fiscal year, which qualify for payment from the special fund created in section 403.19, including interest negotiated on such loans, advances, indebtedness, or bonds. For purposes of this subsection, "indebtedness" includes written agreements whereby the municipality agrees to suspend, abate, exempt, rebate, refund, or reimburse property taxes, or provide a grant for property taxes paid, with moneys in the special fund. The amount of loans, advances, indebtedness, or bonds shall be listed in the aggregate for each municipality reporting.
2. At the request of the legislative services agency, the department of management shall provide the reports and additional information to the legislative services agency. The department of management, in consultation with the legislative services agency, shall determine reporting criteria and shall prepare a form for reports filed with the department pursuant to this section. The department shall make the form available by electronic means.
3. If a municipality does not file the report with the department of management and the county auditor by December 1 of each odd-numbered year, the county treasurer shall withhold disbursement of incremental taxes to the municipality until the 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; 2003 Acts, ch 35, §45, 49; 2003 Acts, ch 178, § 18, 19
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