Senate Study Bill 1141 - Introduced SENATE FILE _____ BY (PROPOSED COMMITTEE ON WAYS AND MEANS BILL BY CHAIRPERSON FEENSTRA) A BILL FOR An Act extending the allowable period of time that the economic 1 development authority and certain cities may enter into 2 targeted jobs withholding agreements. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2343XC (1) 87 aw/rn

S.F. _____ Section 1. Section 403.19A, subsection 3, paragraph c, 1 subparagraph (2), Code 2017, is amended to read as follows: 2 (2) The pilot project city and the economic development 3 authority shall not enter into a withholding agreement after 4 June 30, 2018 2023 . 5 EXPLANATION 6 The inclusion of this explanation does not constitute agreement with 7 the explanation’s substance by the members of the general assembly. 8 This bill extends the allowable period of time that the 9 economic development authority and certain cities may enter 10 into targeted jobs withholding agreements with employers under 11 the targeted jobs withholding credit pilot project. Under 12 current law, the economic development authority and pilot 13 project cities are prohibited from entering into withholding 14 agreements after June 30, 2018. Under the bill, the economic 15 development authority and pilot project cities are permitted to 16 enter into such agreements until June 30, 2023. 17 -1- LSB 2343XC (1) 87 aw/rn 1/ 1