House Amendment 8390


PAG LIN




     1  1    Amend House File 2764 as follows:
     1  2 #1.  Page 2, by inserting after line 24 the
     1  3 following:
     1  4    <Sec. ___.  TAX INCREMENT FINANCING STUDY.  The
     1  5 department of economic development shall contract with
     1  6 members of the faculty of one or more Iowa
     1  7 institutions of higher education under the control of
     1  8 the state board of regents for the purpose of
     1  9 evaluating the use of tax increment financing for
     1 10 economic development outside of areas designated as
     1 11 slum and blighted areas as opposed to areas designated
     1 12 as slum and blighted areas.  The evaluation shall
     1 13 include an analysis as to whether approved projects
     1 14 were likely to have been financially feasible or
     1 15 likely to have occurred without the use of tax
     1 16 increment financing outside of areas designated as
     1 17 slum and blighted areas as opposed to areas designated
     1 18 as slum and blighted areas and whether availability of
     1 19 tax increment financing for economic development
     1 20 projects outside of areas designated as slum and
     1 21 blighted areas diminishes the ability to promote the
     1 22 economic recovery of slum and blighted areas.  The
     1 23 department shall report concerning the results of the
     1 24 study on or before December 1, 2006, to the governor
     1 25 and to any legislative interim committee addressing
     1 26 economic development or taxation issues.>
     1 27 #2.  Title page, line 1, by inserting after the
     1 28 word <Act> the following:  <relating to certain
     1 29 incremental property taxes by>.
     1 30 #3.  Title page, line 2, by inserting after the
     1 31 word <district> the following:  <and by requiring a
     1 32 study of tax increment financing for purposes of urban
     1 33 renewal>.
     1 34 #4.  By renumbering as necessary.
     1 35
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     1 37                               
     1 38 FORD of Polk
     1 39 HF 2764.701 81
     1 40 sc/gg/3669
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