[Dome]2000 Summary of Legislation
ECONOMIC DEVELOPMENT


Published by the Iowa General Assembly -- Legislative Service Bureau
Economic Development LegislationRelated Legislation
SENATE FILE 2439 - Accelerated Career Education and Job Training
SENATE FILE 2447 - Financing of Public Improvements
HOUSE FILE 2179 - Certified School to Career Program
HOUSE FILE 2373 - Iowa Finance Authority
HOUSE FILE 2422 - Local Housing Assistance Programs -- Funding
HOUSE FILE 2423 - Brownfield Redevelopment Program
HOUSE FILE 2424 - Lewis and Clark Bicentennial
HOUSE FILE 2540 - Economic Development Programs -- Tax Credits -- Incentives
SENATE FILE 2010 - Traditional Livestock Producers -- Linked Investment Loans
SENATE FILE 2036 - Upper Mississippi Riverway Compact -- Repeal
SENATE FILE 2092 - Substantive Code Corrections
SENATE FILE 2428 - Appropriations -- Economic Development
SENATE FILE 2430 - Appropriations -- Agriculture and Natural Resources
SENATE FILE 2453 - Appropriations -- Infrastructure and Capital Projects
HOUSE FILE 2039 - Miscellaneous Appropriations, Reductions, Supplementals, Transfers, and Credits
HOUSE FILE 2458 - Transportation -- Aviation
HOUSE FILE 2491 - Production of Life Science Products
HOUSE FILE 2533 - Federal Block Grant Appropriations
HOUSE FILE 2560 - Income and Property Taxes -- Credits, Deductions, and Exemptions

ECONOMIC DEVELOPMENT LEGISLATION

SENATE FILE 2439 - Accelerated Career Education and Job Training (full text of act)
   BY COMMITTEE ON WAYS AND MEANS. This Act amends the Accelerated Career Education Program which was enacted in 1999. The Act restores all of the language that was item vetoed by the Governor from last year's Act (1999 Iowa Acts, Chapter 179).
   The Act provides that an accelerated career education program agreement may use tax credits from withholding as a possible funding source for program costs. The Act provides the method for using the tax credit from withholding. The Act provides that an amount up to 10 percent of the gross wages of the program jobs in an agreement shall be credited from the total payment made by the employer. The credit shall be against all withholding taxes due from the employer. The employer and community college must certify to the Department of Revenue and Finance that the credits are in accordance with the program agreement.
   The Act limits the total amount of tax credits from withholding which shall be allocated for statewide accelerated career education programs in any one fiscal year to $3 million in FY 2000-2001, $6 million in FY 2001-2002, and $6 million in FY 2002-2003 and every fiscal year thereafter. Any increase in the $6 million maximum shall be developed based on recommendations in a study which shall be conducted by the Department of Economic Development and submitted to the General Assembly by December 31, 2002. The Act requires the Department of Economic Development to maintain an annual record of tax credits allocated and to allocate any available credits to community colleges in accordance with any agreements. Once the maximum statewide amount has been allocated, the department shall notify all community colleges in the state of this fact and that further credits will not be allocated during the fiscal year.
   The Act provides that for FY 2000-2001 and FY 2001-2002, the Department of Economic Development shall allocate $80,000 of the first $1,200,000 of program job credits authorized and available to each community college in the state for use in providing funding for approved programs. For FY 2002-2003, and every fiscal year thereafter, the department shall divide equally among the community colleges 30 percent of the program job credits available for that fiscal year for allocation to each community college to be used to provide funding for approved programs. By April 1 of a fiscal year, any uncommitted portion is available for use by other community colleges. Once a community college has committed its allocation for any fiscal year, the community college may receive additional program job credit allocations from those program job credits authorized and still available for that fiscal year.
   The Act provides that the Department of Economic Development shall administer the statewide allocation of program job credits and shall collect data related to the programs and prepare an annual report regarding the activities of the programs for submission to the Governor and the General Assembly.
   The Act provides that the General Assembly shall act on or before March 1, 2006, to discontinue the program jobs credits from withholding.
   The Act also establishes an Accelerated Career Education Grant Program to be administered by the College Student Aid Commission. The Act creates an Accelerated Career Education Grant Fund consisting of moneys appropriated by the General Assembly and any other moneys available to and obtained or accepted by the commission. To be eligible for a grant, an individual must be a resident of Iowa and enrolled at a community college as a participant in an accelerated career education program.
   The Act provides that grant moneys received by a student shall be used to pay the student's cost of attendance, including community college tuition and fees, materials, textbooks and supplies, transportation, room and board, dependent care during the time the person is in class, and the purchase or rental of a computer. The amount of a grant shall not exceed a student's annual financial need or $2,000, whichever is less, and grants shall be awarded on an annual basis. Grants shall be awarded in order of need insofar as funds permit.
   The Act provides that, by December 15 of each year, the commission shall submit a report to the General Assembly, the Department of Management, and the Legislative Fiscal Bureau relating to the total funding of the grant program, the expenditures under the program, and related information.
   The Act reduces the maximum amount of job training withholding that shall be transferred from all employers to the Workforce Development Fund Account from $10 million per year to $9 million per year.
   The Act takes effect May 18, 2000.
SENATE FILE 2447 - Financing of Public Improvements (full text of act)
   BY IVERSON AND GRONSTAL. This Act creates a Vision Iowa Program and Fund and a School Infrastructure Program and Fund.
   The Act creates a Vision Iowa Board to establish a Community Attraction and Tourism Program and a Vision Iowa Program. The Department of Economic Development shall administer both programs subject to approval by the board. The Act provides that the board consists of 13 members, with most members appointed for three-year staggered terms. The board shall be located within the Department of Economic Development for administrative purposes. The Act provides for the compensation and reimbursement of expenses of board members.
   The Act provides for the repeal of Code sections relating to the Community Attraction and Tourism Development Program and Fund, moves these sections to new Code Chapter 15F, and changes the name to the Community Attraction and Tourism Program and Fund. The new program is designed to assist communities in the development and creation of multiple-purpose attraction and tourism facilities. The Act allows a school district to submit a joint application for financial assistance with a city or county, provides that an applicant shall not receive financial assistance in an amount exceeding 50 percent of the total cost of a project, and provides that a review committee consisting of certain members of the board will review the applications for assistance and make recommendations to the board.
   The Act directs the department to provide a staff review analysis and evaluation of the program applications to the review committee and the board. Upon review of the recommendations of the review committee, the board shall approve, defer or deny the applications. The Act also provides for the allocation of one-third of the moneys in the fund to provide assistance to cities with a population of 10,000 or less according to the most recently published census, and to counties with a population that ranks in the bottom 33 counties according to the most recently published census. The Act provides that any allocated moneys that are not awarded by April 1 of a fiscal year may be utilized to provide assistance to any city or county in the state.
   The Act provides for the establishment of the Vision Iowa Program. The program is designed to assist communities in the development of major tourism facilities. The Act provides for a review committee consisting of certain members of the board to review the applications for assistance and make recommendations to the board. The department shall provide a staff review and evaluation of the program applications to the review committee and the board. The total cost of a project must be at least $20 million in order for an applicant to receive assistance. An applicant or the board may divide a proposed project into component parts and the board may choose to provide financial assistance for one or more of the component parts. Financial and nonfinancial support for the project, which may be from a public or private source, must be demonstrated by the applicant and such support must be at least 50 percent of the total cost of the project. Assistance under the program shall not be used to refinance a loan or debt and a project shall not receive more than one award under the program unless the applicant demonstrates that the assistance would be used for a significant expansion of the project.
   The Act provides for the creation of a Vision Iowa Fund as a separate and distinct fund in the State Treasury to be used for purposes of the Vision Iowa Program. Revenue for the fund shall include proceeds of bonds issued to capitalize the fund and other moneys received for purposes of the fund. An applicant shall not receive more than $75 million in financial assistance from the fund.
   The Act provides the Treasurer of State with powers relating to issuance of bonds and the deposit or disbursement of bond proceeds. The bonds are payable solely out of the moneys, assets or revenues of the Vision Iowa Fund and any bond reserve funds. The Act provides for the form the bonds shall take. The Act also provides for persons authorized to invest in the bonds, the manner in which the bonds shall be authorized, and that the authorization does not need to be recorded to be valid and binding. The interest on the bonds shall be exempt from the state income tax and the state inheritance and estate tax. Moneys in the Vision Iowa Fund may be used for administrative purposes. The Treasurer of State may issue refunding bonds. The Act authorizes the Treasurer of State to establish reserve funds to secure one or more issues of its bonds or notes.
   The Act provides for the binding and valid nature of a pledge made in respect of bonds or notes issued by the Treasurer of State. The state shall not limit or alter the rights and powers vested in the board or the Treasurer of State to fulfill the terms of a contract made with respect to bonds or notes.
   The Act provides the board with the ability to undertake a project for two or more applicants jointly and to combine, for financing purposes, a project with some or all future projects of an applicant.
   The Act provides that the bonds and notes issued by the Treasurer of State are not debts of the state or of any political subdivision of the state or a pledge of the faith and credit of the state or of any political subdivision. The Act provides for the liberal construction of the bonding provisions of the Act.
   The Act provides that repeal and reenactment of the Code sections relating to the Community Attraction and Tourism Development Program and Fund are intended to be a continuation of the prior statutes and that moneys in the current Community Attraction and Tourism Fund shall not revert to any other fund.
   The Act provides the Treasurer of State with powers relating to issuance of bonds and the deposit or disbursement of bond proceeds for purposes of the School Infrastructure Program and Fund. The bonding provisions are essentially the same as for the Vision Iowa Program and Fund except that the Treasurer of State, under the Vision Iowa Program, may only issue bonds upon the request of the Vision Iowa Board. The Treasurer of State, under the School Infrastructure Program, shall not issue bonds which result in the deposit of bond proceeds of more than $50 million into the School Infrastructure Fund; and separate funds are established for the Vision Iowa Program and the School Infrastructure Program.
   The Act creates a School Infrastructure Program and Fund to provide financial assistance in the form of grants to certain school districts with infrastructure needs. A school district may apply for financial assistance under the program if the school meets the school district's local match requirement through the issuance of bonds, the local sales and services tax for school infrastructure moneys received pursuant to Code Section 422E.3, a physical plant and equipment levy under Code Chapter 298, or other moneys locally obtained by the school district excluding other state or federal grants. The Act provides that the local match requirement means the lesser of 50 percent or the quotient of the school district's capacity per pupil divided by the capacity per pupil for the school district at the 40th percentile multiplied by 50 percent. However, the local match requirement shall not be less than 20 percent. The Act provides that a school district's local match requirement is equivalent to the total investment of a project multiplied by the school district's local match requirement. The Act provides for the calculation of capacity per pupil by the Department of Education, in consultation with the Department of Revenue and Finance and the Department of Management. A school district may apply for conditional approval of a grant in order to secure the remaining costs of the project.
   The Act provides that for FY 2000-2001, applications shall be submitted to the Department of Education by March 1, 2001, and for FY 2001-2002, and every fiscal year thereafter, applications shall be submitted by October 15 of each year.
   The Department of Education is required to form a task force to review applications for financial assistance under the School Infrastructure Program and provide recommendations to the School Budget Review Committee. The Act requires the committee to review all applications for financial assistance to determine qualifying grant recipients and to make recommendations to the department, with the department making final grant awards. The School Budget Review Committee's recommendations shall be based on certain criteria. Under the program, grants totaling $50 million shall be awarded over a period of three years. A school district shall not receive more than one grant under the program and that grant shall equal the lesser of $1 million or the total capital investment of the project minus the local match requirement.
   The Act provides that applicants receiving financial assistance under the program shall submit a progress report to the Department of Education as requested by the department.
   The Act amends the definition of "public improvement" in Code Chapter 384 to exclude urban renewal demolition.
   Senate File 2453 (see Appropriations) provides for the annual deposit of a portion of the state's gambling revenues into the Vision Iowa Fund and the School Infrastructure Fund for a designated number of years.
HOUSE FILE 2179 - Certified School to Career Program (full text of act)
   BY COMMITTEE ON ECONOMIC DEVELOPMENT. This Act modifies the definition of "certified school to career program" and makes a number of changes to the program.
   The Code currently defines "certified school to career program" as a federally regulated, registered apprenticeship program or a program approved by the State Board of Education in conjunction with the Department of Economic Development. The Act replaces the state board-approved option with an option for an individual program of study, developed jointly by a secondary school, postsecondary institution, and an employer.
   The Act limits the time during which an employer must provide paid employment to a period no earlier than the student's junior year and no later than the fall after the student's second year of postsecondary education.
   The Act strikes a provision requiring the state board and the Department of Economic Development to approve programs, but requires the state board to adopt rules to guide school districts in determining whether a potential school to career program meets the standards for certification.
   The Act adds a new standard that requires the assurance of a participant's high school that it will file with the Department of Education an initial notice of intent to conduct a certified program, including the name of the contact person charged with overseeing the district's program. The district is also required to maintain on file the certified program agreement.
   The Act requires that the participant and employer agree in writing to the beginning date and duration of the training and employment and provides that if a participant is unable to complete the employment obligation because the employer does not afford the participant an employment opportunity, the participant is not required to repay the employer's portion of the participant's postsecondary education expenses.
HOUSE FILE 2373 - Iowa Finance Authority (full text of act)
   BY COMMITTEE ON ECONOMIC DEVELOPMENT. This Act relates to activities of the Iowa Finance Authority, including the issuance of closing protection letters, mortgage release certificates, and the allocation of the state ceiling of federally tax-exempt private activity bonds.
   The Act provides that a title guaranty, closing protection letter, or gap coverage issued by the Title Guaranty Division of the Iowa Finance Authority is an obligation of the division and not an indebtedness or liability of the state.
   The Act removes requirements for payoff statements and mortgage release certificates regarding the inclusion of the legal description of property that will continue to be subject to the mortgage.
   The Act provides that, in the context of prior mortgages, an effective release has not been filed of record if there appears that a mortgagee in the record chain of title to the mortgage has not filed of record either an assignment of the mortgage to another mortgagee in the record chain of title to the mortgage or a release of the mortgagee's interest in the mortgage.
   The Act allows the authority through the Title Guaranty Division to issue a closing protection letter to a person to whom a proposed title guaranty is to be issued, upon the request of the person, if the division issues a commitment for title guaranty or title guaranty certificate. The Act provides that the closing protection letter may only indemnify a person to whom a proposed title guaranty is to be issued against loss of settlement funds due to the theft of settlement funds and the noncompliance with written closing instructions relating to title certificate coverage.
   The Act provides that a closing protection letter shall only be issued to a person to whom a proposed title guaranty is to be issued for real property transactions in which the division has committed to issue an owner or lender certificate and for which the division receives a premium and other payments or fees for a title guaranty certificate or other coverage. The Act provides that the division may establish fees and the amount of the coverage, which shall not exceed the amount of the commitment or title guaranty to be issued. The Act prohibits the division from providing any other coverage which purports to indemnify against improper acts or omissions of a person with regard to escrow, settlement or closing services.
   The Act requires the Treasurer of State, the Auditor of State, the Director of the Department of Economic Development, and the Executive Director of the Iowa Finance Authority to submit a joint report to the General Assembly by December 1, 2000, regarding proposals for a new allocation method for the state ceiling allocation under Code Section 7C.4A, subsection 5. The Act provides that, for the calendar year beginning January 1, 2001, applications for the state ceiling allocation under Code Section 7C.4A, subsection 5, shall not be approved prior to March 1, 2001.
HOUSE FILE 2422 - Local Housing Assistance Programs -- Funding (full text of act)
   BY COMMITTEE ON ECONOMIC DEVELOPMENT. This Act relates to the funding of the Local Housing Assistance Program administered by the Department of Economic Development.
   The Act authorizes the Iowa Finance Authority to provide surplus moneys to the Local Housing Assistance Program for purposes of providing assistance to low and moderate income families. However, the surplus moneys shall not be used under the Local Housing Assistance Program for purposes of infrastructure and administration.
   The Act takes effect April 7, 2000.
HOUSE FILE 2423 - Brownfield Redevelopment Program (full text of act)
   BY COMMITTEE ON ECONOMIC DEVELOPMENT. This Act creates a Brownfield Redevelopment Program and Fund for purposes of providing financial and technical assistance for the acquisition, remediation or redevelopment of brownfield sites.
   The Act provides that the Department of Economic Development shall administer the program. The Act provides that a person owning a site may apply for assistance if the site for which assistance is sought meets the definition of a brownfield site and the applicant has secured city or county sponsorship prior to applying. In reviewing applications for financial assistance, the department must consider whether the site meets the definition of a brownfield site and whether alternative forms of assistance exist. The Act provides that the Iowa Economic Development Board may approve, deny or defer each application for financial assistance.
   The Act provides that a person who is not an owner of a site may apply for financial assistance under the program if the site for which financial assistance is sought meets the definition of a brownfield site and the applicant has secured sponsorship prior to applying. The Act provides that an applicant shall enter into an agreement with the owner of the brownfield site for which financial assistance is sought, which shall include, at a minimum, an agreement regarding the estimated total cost for remediating the brownfield site, an agreement that the owner shall transfer title of the property to the applicant upon completion of the remediation of the property, and an agreement that, upon the sale of the property by the applicant to a person other than the original owner, the original owner shall receive not more than 75 percent of the estimated total cost for remediation. The Act provides that an applicant shall not receive financial assistance of more than 25 percent of the agreed upon estimated total cost of remediation. Upon the subsequent sale of the property by the applicant, the applicant shall repay the department for financial assistance received by the applicant. The repayment shall be in an amount equal to the sale price less the amount paid to the original owner pursuant to the agreement between the applicant and the original owner. The repayment amount shall not exceed the amount of financial assistance received by the applicant.
   The Act provides for the creation of a Brownfield Redevelopment Fund from which awards for financial assistance under the Brownfield Redevelopment Program may be given.
   The Act provides that the Department of Economic Development shall establish a Brownfield Redevelopment Advisory Council consisting of five members. The advisory council shall review each Brownfield Redevelopment Program application and provide recommendations to the department regarding financial and technical assistance.
   The Act provides that the Iowa Department of Transportation shall amend existing administrative rules for local development projects under the Revitalize Iowa's Sound Economy Fund to include a rating factor for remediation or redevelopment of a brownfield site.
   The Act directs the Department of Economic Development to amend existing administrative rules for projects under the Community Economic Betterment Program to include a rating factor for remediation or redevelopment of a brownfield site.
HOUSE FILE 2424 - Lewis and Clark Bicentennial (full text of act)
   BY COMMITTEE ON ECONOMIC DEVELOPMENT. This Act creates an Iowa Lewis and Clark Bicentennial Commission and Fund within the Department of Economic Development. The commission shall be chartered and operated as a nonprofit corporation for purposes of coordinating and promoting the observance of Iowa's bicentennial commemoration of the Lewis and Clark Expedition. The commission shall be composed of seven members consisting of four specific representatives of state government and three members appointed by the Governor, subject to confirmation by the Senate. Members appointed by the Governor shall have an interest or expertise in the history of the Lewis and Clark Expedition and at least one of the members shall be a member of an Indian tribe encountered by the Lewis and Clark Expedition.
   The Act provides that an Iowa Lewis and Clark Bicentennial Fund is established as a separate fund in the State Treasury under the control of the commission and that the assets of the fund shall be used by the commission for carrying out the purposes of the commission.
   The Act provides that the commission terminates by December 31, 2007.
   The Act takes effect April 20, 2000.
HOUSE FILE 2540 - Economic Development Programs -- Tax Credits -- Incentives (full text of act)
   BY COMMITTEE ON WAYS AND MEANS. This Act amends the Economic Development Enterprise Zone Program and the New Jobs and Income Program.
   The Act amends the investment tax credit provisions under the New Jobs and Income Program. The Act provides that an eligible business whose project primarily involves the production of value-added agricultural products may elect to receive a refund for all or a portion of an unused tax credit. An eligible business that elects to receive a refund shall apply to the Department of Economic Development for a tax credit certificate. An eligible business whose project primarily involves the production of value-added agricultural products shall not claim a tax credit under the program unless a certificate is attached to the taxpayer's tax return for the tax year during which the tax credit is claimed. A certificate shall not be valid until the tax year following the date of the project completion.
   The Act amends the definition of "new investment directly related to new jobs created by the location or expansion of an eligible business under the program" under Code Section 15.333A to match the language under Code Section 15.333. The definition is used in Code Section 15.333A for the insurance premium tax credit under the New Jobs and Income Program, which is also an incentive under the Economic Development Enterprise Zone Program.
   The Act provides that any county may designate an enterprise zone if the area meets certain distress criteria. Not more than five enterprise zones shall be approved by the department prior to July 1, 2001.
   The Act changes the deadline for a qualifying county or city to apply for an area to be certified as an enterprise zone from July 1, 2000, to July 1, 2003.
   The Act expands the tax credit presently allowed individual and corporate income taxpayers who are eligible housing businesses that build or rehabilitate housing in a designated enterprise zone to include financial institutions and nonprofit organizations that are subject to the franchise tax. Eligible housing businesses shall provide enterprise zone commissions with information showing the total costs and sources of project financing that will be utilized for the new investment directly related to housing for which the business is seeking approval. These provisions apply retroactively to January 1, 2000, for tax years beginning on or after that date.
   The Act provides that tax credits for eligible housing businesses shall be approved by the department, and the department, in determining the amount of the tax credit, shall not include the portion of the project cost financed through federal, state and local government tax credits, grants and forgivable loans.
   The Act allows either a city or a county to designate an enterprise zone at any time prior to July 1, 2010, when a business closure occurs involving the loss of full-time employees, not including retail employees, at one place of business totaling at least 1,000 employees or 5 percent or more of the county's labor force. The enterprise zone may be established on property of the place of business that has closed and may include an area up to an additional 50 acres adjacent to the property.
   The Act takes effect May 26, 2000, with the exception of the provision allowing an eligible business under the New Jobs And Income Program, whose project primarily involves the production of value-added agricultural products, to elect to receive a refund, which takes effect July 1, 2001, and applies to tax years beginning on or after that date.

RELATED LEGISLATION

SENATE FILE 2010 -- Traditional Livestock Producers -- Linked Investment Loans (Complete summary under AGRICULTURE.)
   This Act amends several provisions relating to the Traditional Livestock Producers Linked Investment Loan Program by changing eligibility requirements for participation by borrowers and providing a preference to borrowers who are swine producers liquidating herds due to pseudorabies.
SENATE FILE 2036 -- Upper Mississippi Riverway Compact -- Repeal (Complete summary under STATE GOVERNMENT.)
   This Act repeals the Upper Mississippi Riverway Compact, which was adopted by the General Assembly in 1967, but was not adopted by other named states and was not ratified by the U. S. Congress.
SENATE FILE 2092 -- Substantive Code Corrections (Complete summary under STATE GOVERNMENT.)
   This Act contains statutory corrections that adjust language to reflect current practices, insert earlier omissions, delete redundancies and inaccuracies, delete temporary language, resolve inconsistencies and conflicts, update ongoing provisions, or remove ambiguities. The Act specifies that the Department of Economic Development is responsible for the adoption of rules pertaining to the allocation of moneys to support program capital costs for the Accelerated Career Education Program.
SENATE FILE 2428 -- Appropriations -- Economic Development (Complete summary under APPROPRIATIONS.)
   This Act makes a number of appropriations from the General Fund of the State to the Department of Economic Development for the administration of the department and for specific programs and funds.
SENATE FILE 2430 -- Appropriations -- Agriculture and Natural Resources (Complete summary under APPROPRIATIONS.)
   This Act relates to agriculture and natural resources by making appropriations to support related entities. The Act also makes a number of statutory changes. The Act establishes an International Relations Fund in order to support costs incurred by the Department of Agriculture and Land Stewardship in promoting the sale of Iowa agricultural products.
SENATE FILE 2453 -- Appropriations -- Infrastructure and Capital Projects (Complete summary under APPROPRIATIONS.)
   This Act provides for the annual deposit of a portion of the state's gambling revenues into the Vision Iowa Fund, for a designated number of years, to be used for purposes of the Vision Iowa Program to assist communities in the development of major tourism facilities. The Act also allocates a portion of the moneys in the Vision Iowa Fund to the Department of Economic Development for administrative costs associated with the Vision Iowa Program.
HOUSE FILE 2039 -- Miscellaneous Appropriations, Reductions, Supplementals, Transfers, and Credits (Complete summary under APPROPRIATIONS.)
   This Act relates to state budgetary matters by providing for reductions and supplementation of appropriations for FY 1999-2000 and includes certain reductions in appropriations to the departments of Economic Development and Workforce Development.
HOUSE FILE 2458 -- Transportation -- Aviation (Complete summary under TRANSPORTATION.)
   This Act provides that the Department of Economic Development and the Iowa Department of Transportation shall jointly establish a committee on air service.
HOUSE FILE 2491 -- Production of Life Science Products (Complete summary under AGRICULTURE.)
   This Act provides that, notwithstanding limitations on corporate and foreign entities holding agricultural land for purposes of farming, an exception is provided to a life science enterprise organized as a corporation or limited liability company for purposes of raising animals used to produce certain products in health-related industries. Provisions allowing for this exception are repealed on July 1, 2004.
HOUSE FILE 2533 -- Federal Block Grant Appropriations (Complete summary under APPROPRIATIONS.)
   This Act appropriates federal block grant and other nonstate moneys to state agencies for the federal fiscal year beginning October 1, 2000, and ending September 30, 2001. The Act includes funding for various substance abuse programs.
HOUSE FILE 2560 -- Income and Property Taxes -- Credits, Deductions, and Exemptions (Complete summary under TAXATION.)
   This Act provides various income tax credits, including a research activities credit for income tax purposes for businesses under the New Jobs and Income Program, the Quality Jobs Enterprise Zone Program, the incentives for building in enterprise zones, the individual income tax, and corporate income tax; a property rehabilitation credit equal to 25 percent of the costs of rehabilitating eligible properties, which are properties eligible to be listed on the National Register of Historic Places, historic properties in areas eligible to be designated local historic districts, local landmarks, or a barn constructed prior to 1937; and an assistive device credit equal to 50 percent of the first $5,000 paid for the purchase, rental or modification of an assistive device or for the renovation of the workplace for an individual with a disability.

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