House File 398 - Introduced



                                       HOUSE FILE       
                                       BY  D. OLSON


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act changing the deadline by which a pilot project city may
  2    enter into a targeted jobs withholding tax credit agreement
  3    for purposes of funding an urban renewal area and including
  4    effective and retroactive applicability date provisions.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 1863YH 83
  7 tw/mg:sc/24

PAG LIN



  1  1    Section 1.  Section 403.19A, subsection 3, paragraph c,
  1  2 subparagraph (2), Code 2009, is amended to read as follows:
  1  3    (2)  The pilot project city shall not enter into a
  1  4 withholding agreement after June 30, 2010 February 13, 2009.
  1  5    Sec. 2.  EFFECTIVE AND RETROACTIVE APPLICABILITY DATES.
  1  6 This Act, being deemed of immediate importance, takes effect
  1  7 upon enactment and applies retroactively to February 13, 2009.
  1  8                           EXPLANATION
  1  9    This bill changes the deadline by which a pilot project
  1 10 city may enter into a targeted jobs withholding tax credit
  1 11 agreement.  Currently, pilot project cities cannot enter into
  1 12 an agreement after June 30, 2010.  The bill changes the date
  1 13 to February 13, 2009.
  1 14    The bill takes effect upon enactment and applies
  1 15 retroactively to February 13, 2009.
  1 16 LSB 1863YH 83
  1 17 tw/mg:sc/24.1