Senate Study Bill 3136 - Introduced SENATE FILE _____ BY (PROPOSED COMMITTEE ON ECONOMIC GROWTH BILL BY CHAIRPERSON HART) A BILL FOR An Act relating to the provision of financial assistance from 1 the nuisance property remediation fund. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 5989XC (3) 86 aw/sc
S.F. _____ Section 1. Section 15.338, subsections 2 and 3, Code 2016, 1 are amended to read as follows: 2 2. The authority shall use moneys in the fund to provide 3 financial assistance to cities for the remediation of nuisance 4 properties and abandoned buildings and other structures. Such 5 financial assistance may include grants, loans , or forgivable 6 loans. The authority may provide financial assistance under 7 this section using a competitive scoring process. 8 3. In providing financial assistance under this section, 9 the authority may : 10 a. Shall dedicate at least twenty-five percent of the moneys 11 provided under this section during each fiscal year to cities 12 with populations of less than one thousand as shown by the most 13 recent federal decennial census. 14 b. Shall give priority to cities that actively participate 15 in community development planning and programs with a council 16 of government as described in section 28H.1. 17 c. May give priority to cities with severe blighted areas, 18 widespread dilapidated housing stock, or high rates of low or 19 moderate income residents. 20 EXPLANATION 21 The inclusion of this explanation does not constitute agreement with 22 the explanation’s substance by the members of the general assembly. 23 This bill relates to the provision of financial assistance 24 from the nuisance property remediation fund. Under current 25 law, the economic development authority (authority) is 26 allowed to provide loans or forgivable loans to cities for the 27 remediation of nuisance properties and abandoned buildings 28 and to give priority to cities with severe blighted areas, 29 dilapidated housing stock, and high rates of low or moderate 30 income residents. 31 Under the bill, the authority is allowed to provide grants 32 to cities for the same purposes, and is required to dedicate 33 at least 25 percent of all moneys awarded from the fund each 34 fiscal year to cities with populations of less than 1,000. 35 -1- LSB 5989XC (3) 86 aw/sc 1/ 2
S.F. _____ The bill also requires that the authority give priority in 1 providing financial assistance to cities that participate in 2 community development planning and programs with a council of 3 government. 4 -2- LSB 5989XC (3) 86 aw/sc 2/ 2