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
  1 33 tm/sh/8
  1 34
  1 35