House File 772 H-1247 Amend House File 772 as follows: 1 1. Page 6, after line 24 by inserting: 2 < Sec. ___. Section 15.119, Code 2019, is amended by adding 3 the following new subsection: 4 NEW SUBSECTION . 5. Notwithstanding subsection 1, and 5 in addition to amounts allocated pursuant to subsection 2, 6 paragraph “g” , the authority shall allocate ten million dollars 7 to the workforce housing tax incentives program administered 8 pursuant to sections 15.351 through 15.356, for qualified 9 housing projects located in a county that has been declared 10 a major disaster by the president of the United States on 11 or after March 12, 2019, and that is also a county in which 12 individuals are eligible for federal individual assistance. > 13 2. Page 6, after line 34 by inserting: 14 < Sec. ___. Section 15.353, subsection 2, Code 2019, is 15 amended by adding the following new paragraph: 16 NEW PARAGRAPH . f. For a housing project located in any 17 county that has been declared a major disaster by the president 18 of the United States on or after March 12, 2019, and that is 19 also a county in which individuals are eligible for federal 20 individual assistance, development at a greenfield site. > 21 3. Page 7, after line 7 by inserting: 22 < Sec. ___. Section 15.354, subsection 1, Code 2019, is 23 amended by adding the following new paragraph: 24 NEW PARAGRAPH . c. In addition to complying with all 25 applicable requirements in paragraph “b” , a housing business 26 that chooses to be considered as an applicant for tax credits 27 reserved pursuant to section 15.119, subsection 5, shall also 28 submit a certification that the applicant’s housing project is 29 located in a county that has been declared a major disaster by 30 the president of the United States on or after March 12, 2019, 31 and is also a county in which individuals are eligible for 32 federal individual assistance. The housing business must also 33 submit documentation that provides evidence that the qualified 34 housing project is needed due to impact of the disaster that is 35 -1- HF772.2028 (2) 88 ko/jh 1/ 3 #1. #2. #3.

the subject of the presidential major disaster declaration. > 1 4. Page 12, after line 34 by inserting: 2 < Sec. ___. Section 15.354, Code 2019, is amended by adding 3 the following new subsection: 4 NEW SUBSECTION . 6. Disaster recovery housing projects. 5 a. For purposes of this subsection, “disaster recovery 6 housing project” means a qualified housing project located in a 7 county that has been declared a major disaster by the president 8 of the United States on or after March 12, 2019, and that is 9 also a county in which individuals are eligible for federal 10 individual assistance. 11 b. Notwithstanding subsection 1, the authority may accept 12 applications for disaster recovery housing projects on a 13 continuous basis. 14 c. Notwithstanding subsection 2, paragraphs “a” , “b” , and 15 “d” , upon review of a housing business’s application, the 16 authority may make a tax incentive award to a disaster recovery 17 housing project. The tax incentive award shall represent the 18 maximum amount of tax incentives that the disaster recovery 19 housing project may qualify for under the program. In 20 determining a tax incentive award, the authority shall not use 21 an amount of project costs that exceeds the amount included in 22 the application of the housing business. Tax incentive awards 23 shall be approved by the director of the authority. 24 d. The authority shall administer tax credit allocations 25 for disaster recovery housing projects separately from the 26 general allocation and separately from the allocation reserved 27 for small cities in section 15.119, subsection 2, paragraph 28 “g” . The authority shall issue tax incentives under the 29 program for disaster recovery housing projects on a first-come, 30 first-served basis until the maximum amount of tax incentives 31 allocated under section 15.119, subsection 5, is reached. The 32 authority shall maintain a list of disaster recovery housing 33 projects awarded tax incentives under the program, so that if 34 the maximum aggregate amount of tax incentives allocated for 35 -2- HF772.2028 (2) 88 ko/jh 2/ 3 #4.

disaster recovery housing projects under the program is reached 1 in a given fiscal year, such disaster recovery housing projects 2 that were completed but for which tax incentives were not 3 issued shall be placed on a wait list in the order the disaster 4 recovery housing projects were awarded tax incentives pursuant 5 to paragraph “c” , and shall be given priority for receiving tax 6 incentives in succeeding fiscal years. > 7 5. Page 13, after line 20 by inserting: 8 < Sec. ___. Section 15.355, subsection 3, paragraph a, Code 9 2019, is amended by adding the following new subparagraph: 10 NEW SUBPARAGRAPH . (3) For a housing project located in a 11 county that has been declared a major disaster by the president 12 of the United States on or after March 12, 2019, and that is 13 also a county in which individuals are eligible for federal 14 individual assistance, twenty percent of the qualifying new 15 investment of a housing project. > 16 6. Page 13, after line 35 by inserting: 17 < Sec. ___. EMERGENCY RULES. The economic development 18 authority may adopt emergency rules under section 17A.4, 19 subsection 3, and section 17A.5, subsection 2, paragraph “b”, 20 to implement the provisions of this division of this Act and 21 the rules shall be effective immediately upon filing unless 22 a later date is specified in the rules. Any rules adopted 23 in accordance with this section shall also be published as a 24 notice of intended action as provided in section 17A.4. 25 Sec. ___. EFFECTIVE DATE. This division of this Act, being 26 deemed of immediate importance, takes effect upon enactment. > 27 7. Title page, line 3, before < applicability > by inserting 28 < effective date and > 29 8. By renumbering as necessary. 30 ______________________________ CARLSON of Muscatine -3- HF772.2028 (2) 88 ko/jh 3/ 3 #5. #6. #7. #8.