House File 95 - Enrolled

PAG LIN



  1  1                                             HOUSE FILE 95
  1  2
  1  3                             AN ACT
  1  4 RELATING TO THE DESIGNATION OF PILOT PROJECT CITIES FOR A
  1  5    TARGETED JOBS WITHHOLDING TAX CREDIT TO BE USED FOR FUNDING
  1  6    IMPROVEMENTS IN CERTAIN URBAN RENEWAL AREAS AND INCLUDING
  1  7    EFFECTIVE AND RETROACTIVE APPLICABILITY DATE PROVISIONS.
  1  8
  1  9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1 10
  1 11    Section 1.  Section 403.19A, subsection 2, paragraph b,
  1 12 Code 2007, is amended to read as follows:
  1 13    b.  The department of economic development shall approve
  1 14 four eligible cities as pilot project cities, one pursuant to
  1 15 paragraph "a", subparagraph (1), one pursuant to paragraph
  1 16 "a", subparagraph (2), and two pursuant to paragraph "a",
  1 17 subparagraph (3).  If two eligible cities are approved which
  1 18 are located in the same county and the county has a population
  1 19 of less than forty=five thousand, the two approved eligible
  1 20 cities shall be considered one pilot project city.  If more
  1 21 than two cities meeting the requirements of paragraph "a",
  1 22 subparagraph (3), apply to be designated as a pilot project
  1 23 city, the department of management, in consultation with the
  1 24 department of economic development, shall determine which two
  1 25 cities hold the most potential to create new jobs or generate
  1 26 the greatest capital within their areas.  Applications from
  1 27 eligible cities filed on or after October 1, 2006, shall not
  1 28 be considered.
  1 29    If a pilot project city does not enter into a withholding
  1 30 agreement within one year of its approval as a pilot project
  1 31 city, the city shall lose its status as a pilot project city.
  1 32 If two pilot project cities are located in the same county,
  1 33 the loss of status by one pilot project city shall not cause
  1 34 the second pilot project city in the county to lose its status
  1 35 as a pilot project city.  Upon such occurrence, the department
  2  1 of economic development shall take applications from other
  2  2 eligible cities to replace that city.  Another city shall be
  2  3 designated within six months.
  2  4    Sec. 2.  EFFECTIVE AND RETROACTIVE APPLICABILITY DATES.
  2  5 This Act, being deemed of immediate importance, takes effect
  2  6 upon enactment and is retroactively applicable to July 1,
  2  7 2006, and is applicable to pilot project city applications
  2  8 received prior to October 1, 2006.
  2  9
  2 10
  2 11                                                             
  2 12                               PATRICK J. MURPHY
  2 13                               Speaker of the House
  2 14
  2 15
  2 16                                                             
  2 17                               JOHN P. KIBBIE
  2 18                               President of the Senate
  2 19
  2 20    I hereby certify that this bill originated in the House and
  2 21 is known as House File 95, Eighty=second General Assembly.
  2 22
  2 23
  2 24                                                             
  2 25                               MARK BRANDSGARD
  2 26                               Chief Clerk of the House
  2 27 Approved                , 2007
  2 28
  2 29
  2 30                            
  2 31 CHESTER J. CULVER
  2 32 Governor