House File 401

PAG LIN

  1  1                                           HOUSE FILE 401
  1  2
  1  3                             AN ACT
  1  4 RELATING TO THE PROCEDURES FOR CERTIFICATES OF COMPLETION
  1  5    OF PROPERTY REHABILITATION PROJECTS FOR WHICH TAX CREDITS
  1  6    MAY BE AVAILABLE.
  1  7
  1  8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  9
  1 10    Section 1.  Section 404A.4, subsection 4, Code 2003, is
  1 11 amended to read as follows:
  1 12    4.  The total amount of tax credits that may be approved
  1 13 for a fiscal year under this chapter shall not exceed two
  1 14 million four hundred thousand dollars.  Tax credit
  1 15 certificates shall be issued on the basis of the earliest
  1 16 awarding The department of cultural affairs shall establish by
  1 17 rule the procedures for the application, review, selection,
  1 18 and awarding of certifications of completion as provided in
  1 19 subsection 1.  The departments of economic development,
  1 20 cultural affairs and revenue and finance shall each adopt
  1 21 rules to jointly administer this subsection and shall provide
  1 22 by rule for the method to be used to determine for which
  1 23 fiscal year the tax credits are approved available.
  1 24
  1 25
  1 26                                                             
  1 27                               CHRISTOPHER C. RANTS
  1 28                               Speaker of the House
  1 29
  1 30
  1 31                                                             
  1 32                               JEFFREY M. LAMBERTI
  1 33                               President of the Senate
  1 34
  1 35    I hereby certify that this bill originated in the House and
  2  1 is known as House File 401, Eightieth General Assembly.
  2  2
  2  3
  2  4                                                             
  2  5                               MARGARET THOMSON
  2  6                               Chief Clerk of the House
  2  7 Approved                , 2004
  2  8
  2  9
  2 10                            
  2 11 THOMAS J. VILSACK
  2 12 Governor