SSB 3170 (LSB 6181SC (3) 83)

SENATE FILE _____

BY  (PROPOSED COMMITTEE ON REBUILD IOWA BILL BY CHAIRPERSON HOGG)

A BILL FOR

An Act limiting certain financial assistance for development in five hundred year floodplains.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 15E.193, subsection 1, Code Supplement 2009, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  g.  Is not located in a five hundred year floodplain.
    Sec. 2.  Section 15E.193B, subsection 2, Code Supplement 2009, is amended to read as follows:
   2.  An eligible housing business under this section includes a housing developer, housing contractor, or nonprofit organization that builds or rehabilitates a minimum of four single-family homes located in that part of a city or county in which there is a designated enterprise zone, provided the homes are not located in a five hundred year floodplain or one multiple dwelling unit building containing three or more individual dwelling units located in that part of a city or county in which there is a designated enterprise zone, provided the building is not located in a five hundred year floodplain.
    Sec. 3.  NEW SECTION.  29C.20B  Financial assistance limitations —— floodplains.

   Notwithstanding any provision to the contrary, financial assistance from the state shall not be awarded for any type of development taking place in a five hundred year floodplain unless the intended recipient demonstrates the development is designed to mitigate damage in the event of flooding.
EXPLANATION
   This bill relates to financial assistance for development in 500 year floodplains.
   The bill provides that a business is not an eligible business under the enterprise zone program if the business is located in a 500 year floodplain. The bill provides that a business is not an eligible housing business under the enterprise zone program if the business builds or rehabilitates homes or multiple dwelling unit buildings in a 500 year floodplain.
   The bill prohibits financial assistance from the state from being awarded for any type of development taking place in a 500 year floodplain unless the intended recipient demonstrates the development is designed to mitigate damage in the event of flooding.