S.F. 104 Section 1. Section 15.335A, subsection 1, paragraph a, Code 1 2017, is amended by striking the paragraph. 2 Sec. 2. APPLICABILITY. This Act applies to high quality 3 jobs program agreements entered into by an eligible business 4 and the economic development authority on or after July 1, 5 2017, and high quality jobs program agreements entered into by 6 an eligible business and the economic development authority 7 prior to July 1, 2017, shall be governed by section 15.335A, 8 Code 2017. 9 EXPLANATION 10 The inclusion of this explanation does not constitute agreement with 11 the explanation’s substance by the members of the general assembly. 12 The high quality jobs program administered by the economic 13 development authority makes several types of tax incentives 14 available to eligible businesses that engage in a project in 15 the state. The type and amount of tax incentives available 16 is determined, among other factors, using a progressive scale 17 based on the number of jobs created or retained by the project 18 and the amount of qualifying capital investment involved in 19 the project. Under the first and lowest category on the 20 tax incentive scale, an eligible business is eligible for 21 certain tax incentives according to the amount of qualifying 22 capital investment it makes, and if the number of jobs created 23 or retained by the project is zero. The bill strikes that 24 category. An eligible business will now be required to engage 25 in a project that creates or retains at least one job in order 26 to qualify for tax incentives under the program. 27 The bill applies to high quality jobs program agreements 28 entered into on or after July 1, 2017, and high quality jobs 29 program agreements entered into prior to July 1, 2017, shall be 30 governed by current law. 31 -1- LSB 1620XS (2) 87 mm/sc 1/ 1