Senate Amendment 5162


PAG LIN




     1  1    Amend the House amendment, S=5135, to Senate File
     1  2 2183, as passed by the Senate, as follows:
     1  3 #1.  Page 3, by inserting after line 48 the
     1  4 following:
     1  5    <Sec.    .  Section 15E.194, Code 2005, is amended
     1  6 by adding the following new subsection:
     1  7    NEW SUBSECTION.  5.  A city with a population of
     1  8 less than eight thousand five hundred may designate an
     1  9 enterprise zone when a business located in the city
     1 10 publicly announces a plan to terminate the employment
     1 11 of five hundred or more full=time employees within a
     1 12 period of eighteen months or less.  The enterprise
     1 13 zone shall include any area within a three=mile radius
     1 14 of the location of the business announcing the
     1 15 termination of employees.  The area meeting the
     1 16 requirements for enterprise zone eligibility under
     1 17 this subsection shall not be included for the purpose
     1 18 of determining the area limitation pursuant to section
     1 19 15E.192, subsection 3.  An eligible housing business
     1 20 under section 15E.193B shall not receive incentives or
     1 21 assistance for a home or multiple dwelling unit built
     1 22 or rehabilitated in an enterprise zone designated
     1 23 pursuant to this subsection.  If an enterprise zone
     1 24 has been certified pursuant to this subsection and if
     1 25 the business terminates less than five hundred full=
     1 26 time employees within eighteen months beginning from
     1 27 the time of public announcement, as determined by the
     1 28 department, the department shall decertify the
     1 29 enterprise zone.  An eligible business located in an
     1 30 enterprise zone designated pursuant to this subsection
     1 31 shall repay any incentives and assistance received if
     1 32 the enterprise zone is decertified due to the failure
     1 33 of the eligible business to terminate at least five
     1 34 hundred full=time employees during the specified time
     1 35 period.  The business causing the enterprise zone to
     1 36 be certified pursuant to this subsection shall not be
     1 37 eligible to receive incentives and assistance under
     1 38 section 15E.196.>
     1 39 #2.  By renumbering as necessary.
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     1 41
     1 42                               
     1 43 JAMES SEYMOUR
     1 44 SF 2183.706 81
     1 45 tm/gg/3933
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