Senate File 652 S-3173 Amend Senate File 652 as follows: 1 1. By striking everything after the enacting clause and 2 inserting: 3 < Section 1. Section 15A.1, subsection 1, paragraph b, Code 4 2025, is amended to read as follows: 5 b. For purposes of this chapter , “economic development” 6 means private or joint public and private investment involving 7 the creation of new jobs and income or the retention of 8 existing jobs and income that would otherwise be lost or the 9 provision of workforce housing . 10 Sec. 2. Section 15A.1, subsection 2, Code 2025, is amended 11 by adding the following new paragraph: 12 NEW PARAGRAPH . e. Development policies that advance the 13 development of workforce housing. 14 Sec. 3. Section 403.17, subsection 14, Code 2025, is amended 15 to read as follows: 16 14. “Low or and moderate income families” means those 17 families, including single person households, earning no 18 more than eighty percent of the higher of the median family 19 income of the county or the statewide nonmetropolitan area as 20 determined by the latest United States department of housing 21 and urban development, section 8 income guidelines. 22 Sec. 4. Section 403.17, Code 2025, is amended by adding the 23 following new subsection: 24 NEW SUBSECTION . 14A. “Low and moderate income family 25 housing” means housing for low and moderate income families and 26 includes housing that meets the requirements of section 15.353. 27 Sec. 5. Section 403.22, subsection 1, Code 2025, is amended 28 by adding the following new paragraph: 29 NEW PARAGRAPH . d. (1) For municipalities of any population 30 size, and notwithstanding any minimum low and moderate income 31 family housing requirement, if the public improvement project 32 is approved on or after July 1, 2025, and is related to housing 33 and residential development in an economic development area 34 containing property that has been located entirely within the 35 -1- SF 652.2002 (1) 91 (amending this SF 652 to CONFORM to HF 1037) jm/md 1/ 2 #1.

corporate limits of a city for twenty years or more, the amount 1 to be provided for low and moderate income family housing for 2 such projects shall not be required to be greater than an 3 amount equal to twenty percent of the original project cost. 4 (2) In addition, notwithstanding subsection 5, the division 5 of the revenue under section 403.19 for each project under this 6 paragraph shall be limited to tax collections for twenty fiscal 7 years beginning with the second fiscal year after the year in 8 which the municipality first certifies to the county auditor 9 the amount of any loans, advances, indebtedness, or bonds 10 which qualify for payment from the division of the revenue in 11 connection with the project. > 12 2. Title page, by striking lines 1 through 4 and inserting 13 < An Act modifying economic development provisions relating to 14 housing and residential development in urban renewal areas. > 15 ______________________________ DAN DAWSON -2- SF 652.2002 (1) 91 (amending this SF 652 to CONFORM to HF 1037) jm/md 2/ 2 #2.