House File 294
HOUSE FILE
BY FORD and MILLER
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to criteria for nonretail businesses locating in
2 building space developed by a development business under the
3 enterprise zone program.
4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
5 TLSB 2478HH 80
6 tm/sh/8
PAG LIN
1 1 Section 1. Section 15E.193C, subsection 5, Code 2003, is
1 2 amended to read as follows:
1 3 5. Prior to applying for assistance under this section, an
1 4 eligible development business shall enter into an agreement
1 5 with at least one business for purposes of locating the
1 6 business in all or a portion of the building space for a
1 7 period of at least five years. Nonretail businesses locating
1 8 in a building space must create at least ten full=time
1 9 positions, and meet the criteria provided in section 15E.193,
1 10 subsection 1, paragraphs "a", "b", and "c", and not share
1 11 common ownership or common management with the development
1 12 business. A development business shall receive a pro rata
1 13 share of the total incentives and assistance available to the
1 14 development business based on the percentage of the building
1 15 that is leased to nonretail businesses. The department shall
1 16 determine the procedure for issuing the incentives and
1 17 assistance on a pro rata basis.
1 18 EXPLANATION
1 19 This bill relates to criteria for nonretail businesses
1 20 locating in building space developed by a development business
1 21 under the enterprise zone program.
1 22 Currently, prior to an eligible development business
1 23 applying for assistance under the program, the development
1 24 business must enter into an agreement with at least one
1 25 business for purposes of locating the business in all or a
1 26 portion of the building space. A nonretail business entering
1 27 into an agreement with the development business for purposes
1 28 of locating in the building space must meet certain specified
1 29 criteria. The bill eliminates a criterion prohibiting the
1 30 nonretail business and the development business from sharing
1 31 common ownership or common management.
1 32 LSB 2478HH 80
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