House File 653 HOUSE FILE BY COMMITTEE ON APPROPRIATIONS (SUCCESSOR TO LSB 3367YC) Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to urban renewal indebtedness reporting and 2 providing an effective date. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 3367HV 80 5 sc/cl/14 PAG LIN 1 1 Section 1. CITY AND COUNTY URBAN RENEWAL AREA INDEBTEDNESS 1 2 REPORT. On or before April 1, 2003, each city and county that 1 3 has established an urban renewal area shall report to the 1 4 department of management the total amount of loans, advances, 1 5 indebtedness, or bonds outstanding on April 1, 2003, which 1 6 qualify for payment from the special fund created in section 1 7 403.19, including interest negotiated on such loans, advances, 1 8 indebtedness, or bonds. Indebtedness includes written 1 9 agreements whereby the city or county agrees to suspend, 1 10 abate, exempt, rebate, or reimburse property taxes with moneys 1 11 in the special fund. The amount of loans, advances, 1 12 indebtedness, or bonds shall be listed in the aggregate for 1 13 each city and county reporting. 1 14 The department of management, in consultation with the 1 15 legislative fiscal bureau, shall prepare a form for reporting 1 16 pursuant to this section. The department shall make the form 1 17 available by electronic means. 1 18 Sec. 2. EFFECTIVE DATE. This Act, being deemed of 1 19 immediate importance, takes effect upon enactment. 1 20 EXPLANATION 1 21 This bill requires each city and county that has 1 22 established an urban renewal area to report, on or before 1 23 April 1, 2003, the amount of loans, advances, indebtedness, or 1 24 bonds which qualify for payment with tax increment financing 1 25 revenues in the fiscal year beginning July 1, 2003. 1 26 The bill takes effect upon enactment. 1 27 LSB 3367HV 80 1 28 sc/cl/14 1 29 1 30 1 31 1 32 1 33 1 34 1 35