Senate
File
2339
-
Introduced
SENATE
FILE
2339
BY
COMMITTEE
ON
WAYS
AND
MEANS
(SUCCESSOR
TO
SSB
3202)
A
BILL
FOR
An
Act
increasing
the
amount
available
for
allocation
to
the
1
brownfields
and
grayfields
redevelopment
tax
credits
under
2
the
aggregate
tax
credit
limit
and
including
effective
date
3
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
TLSB
6121SV
(1)
84
mm/sc
S.F.
2339
Section
1.
Section
15.119,
subsection
3,
Code
Supplement
1
2011,
is
amended
to
read
as
follows:
2
3.
In
allocating
the
amount
of
tax
credits
authorized
3
pursuant
to
subsection
1
among
the
programs
specified
in
4
subsection
2
,
the
authority
shall
not
allocate
more
than
five
5
ten
million
dollars
for
purposes
of
subsection
2
,
paragraph
“h”
.
6
Sec.
2.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
7
immediate
importance,
takes
effect
upon
enactment.
8
EXPLANATION
9
This
bill
increases
from
$5
million
to
$10
million
the
10
amount
of
tax
credits
that
the
economic
development
authority
11
may
annually
allocate
under
its
aggregate
tax
credit
limit
in
12
Code
section
15.119
to
the
redevelopment
tax
credit
program
13
for
brownfields
and
grayfields.
The
bill
takes
effect
upon
14
enactment.
15
-1-
LSB
6121SV
(1)
84
mm/sc
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