SSB 3032 (LSB 5319XD (5) 89)

SENATE/HOUSE FILE _____

BY  (PROPOSED ECONOMIC DEVELOPMENT AUTHORITY BILL)

A BILL FOR

An Act related to matters under the purview of the economic development authority including the high quality jobs program, the Iowa energy center, and the workforce housing tax incentive program.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 15.108, subsection 9, paragraph g, Code 2022, is amended to read as follows:
   g.  Administer the Iowa energy center established in section 15.120. This paragraph “g” is repealed July 1, 2022 2027.
    Sec. 2.  Section 15.120, subsection 1, Code 2022, is amended by adding the following new paragraph:
   NEW PARAGRAPH.  h.  To support research and development of strategies for carbon management.
    Sec. 3.  Section 15.120, subsection 5, Code 2022, is amended to read as follows:
   5.  This section is repealed July 1, 2022 2027.
    Sec. 4.  Section 15.335C, subsection 2, Code 2022, is amended to read as follows:
   2.  For purposes of this section, “economically distressed area” means a county that ranks among the bottom thirty-three of all Iowa counties, as measured by one meets at least three of the following criteria:
   a.  Average The county ranks among the thirty-three Iowa counties with the highest average monthly unemployment level rates for the most recent twelve-month period based on the applicable local area unemployment statistics produced by the United States department of labor, bureau of labor statistics.
   b.  Average The county ranks among the thirty-three Iowa counties with the highest average annualized unemployment level rates for the most recent five-year period based on the applicable local area unemployment statistics produced by the United States department of labor, bureau of labor statistics.
   c.  The county ranks among the thirty-three Iowa counties with the lowest annual average weekly wages based on the most recent quarterly census of employment and wages published by the United States department of labor, bureau of labor statistics.
   d.  The county ranks among the thirty-three Iowa counties with the highest family poverty rates based on the most recent American community survey five-year estimate released by the United States census bureau.
   e.  The county ranks among the thirty-three Iowa counties with the highest percentage population loss. Percentage population loss shall be calculated by comparing the most recent population estimate produced by the United States census bureau to the most recent decennial census released by the United States census bureau, except for a calendar year in which the decennial census data is released, then the percentage population loss shall be calculated by comparing the population in the decennial census released that calendar year to the population in decennial census released ten years prior.
   f.  The county ranks among the thirty-three Iowa counties with the highest percentage of persons sixty-five years of age or older based on the most recent American community survey released by the United States census bureau.
    Sec. 5.  Section 15.335C, Code 2022, is amended by adding the following new subsection:
   NEW SUBSECTION.  3.  The authority may designate a county that does not meet at least three of the criteria in subsection 2 as an economically distressed area under this section if a business located in the county experiences a layoff or a closure that has a significant impact on a community within the county. The authority shall adopt rules to establish a process for designating a county an economically distressed area under this subsection.
    Sec. 6.  Section 15.354, subsection 3, paragraph c, subparagraph (2), Code 2022, is amended to read as follows:
   (2)  The authority may for good cause within the discretion of the authority extend a housing project’s completion deadline once by up to twelve months upon application by the housing business, which application shall be made prior to the expiration of the three-year completion deadline in subparagraph (1) in the manner and form prescribed by the authority.  The authority may approve a second extension of up to twelve months if prior to the expiration of the first twelve-month extension the housing business applies and substantiates to the satisfaction of the authority that the second extension is warranted due to extenuating circumstances outside the control of the housing business. An application by a housing business shall be made in the manner and form prescribed by the authority by rule.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill relates to matters under the purview of the economic development authority (authority) including the high quality jobs program, the Iowa energy center, and the workforce housing tax incentive program.
   Under current law, Code section 15.120, which establishes the Iowa energy center, is repealed on July 1, 2022. The bill extends the date to 2027. The bill requires the Iowa energy center to support research and development of strategies for carbon management.
   Under current law, for purposes of the high quality jobs program, a county is qualified as an economically distressed area if the county ranks among the bottom 33 of all Iowa counties, as measured by either the monthly unemployment level for the most recent 12-month period, or the average annualized unemployment level for the most recent five-year period. Under the bill, a county qualifies as an economically distressed area if it meets at least three of the criteria detailed in the bill. The authority may designate a county that does not meet at least three of the criteria as an economically distressed area if a business located in the county experiences a layoff or a closure that has a significant impact on a community within the county. The authority shall adopt rules to establish a process for designating a county an economically distressed area under those circumstances.
   Under current law, the authority may extend a housing project’s completion deadline under the workforce housing tax incentives program up to 12 months upon application by the housing business, which must be made prior to the expiration of the project’s three-year completion deadline. Under the bill, the authority may approve a second extension of up to 12 months if prior to the expiration of the first 12-month extension the housing business makes application and substantiates to the satisfaction of the authority that the extension is warranted due to extenuating circumstances outside the control of the housing business.