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