Senate File 186 - Introduced SENATE FILE 186 BY ZAUN A BILL FOR An Act relating to developer fees for federal low-income 1 housing credits. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 1832XS (3) 86 jh/sc

S.F. 186 Section 1. NEW SECTION . 16.35A Developer fees —— federal 1 low-income housing credits. 2 In qualified allocation plans adopted by the authority for 3 low-income housing credits pursuant to Internal Revenue Code 4 §42, the authority shall not allow developer fees of more than 5 ten percent. 6 EXPLANATION 7 The inclusion of this explanation does not constitute agreement with 8 the explanation’s substance by the members of the general assembly. 9 This bill prohibits the Iowa finance authority from allowing 10 a developer fee of more than 10 percent in qualified allocation 11 plans adopted for federal low-income housing credits. 12 -1- LSB 1832XS (3) 86 jh/sc 1/ 1