House File 358 - Introduced HOUSE FILE BY WISE Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act requiring the department of management to study the issue 2 of tax increment financing for purposes of urban renewal. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2175HH 81 5 sc/pj/5 PAG LIN 1 1 Section 1. DIALOGUE TO RESOLVE TAX INCREMENT FINANCING 1 2 ISSUES. On or before August 1, 2005, the department of 1 3 management shall establish a committee to study the issue of 1 4 the use of tax increment financing for purposes of urban 1 5 renewal. The purpose of the committee is to begin and 1 6 maintain a dialogue with all interested parties in order to 1 7 resolve issues pertaining to the use of tax increment 1 8 financing, particularly the impact of tax increment financing 1 9 on state and local funding for education and on local 1 10 government budgets. The interested parties shall include 1 11 representatives from the department of management, the 1 12 department of economic development, the department of 1 13 education, cities, counties, school districts, community 1 14 colleges, other property=taxing entities, taxpayer 1 15 organizations, and the business community. 1 16 The committee shall report to the general assembly by 1 17 January 31, 2006. The report may include recommendations for 1 18 statutory changes relating to urban renewal and tax increment 1 19 financing. 1 20 EXPLANATION 1 21 This bill requires the department of management, on or 1 22 before August 1, 2005, to establish a committee to study the 1 23 issue of the use of tax increment financing for purposes of 1 24 urban renewal. 1 25 The committee shall report to the general assembly by 1 26 January 31, 2006. 1 27 LSB 2175HH 81 1 28 sc:nh/pj/5