SSB 1141 (LSB 2343XC (1) 87)

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 development authority and certain cities may enter into targeted jobs withholding agreements.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 403.19A, subsection 3, paragraph c, subparagraph (2), Code 2017, is amended to read as follows:
   (2)  The pilot project city and the economic development authority shall not enter into a withholding agreement after June 30, 2018 2023.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill extends the allowable period of time that the economic development authority and certain cities may enter into targeted jobs withholding agreements with employers under the targeted jobs withholding credit pilot project. Under current law, the economic development authority and pilot project cities are prohibited from entering into withholding agreements after June 30, 2018. Under the bill, the economic development authority and pilot project cities are permitted to enter into such agreements until June 30, 2023.