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Senate File 104 - IntroducedA Bill ForAn Act 1modifying the tax incentives available under the high
2quality jobs program and including applicability provisions.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 15.335A, subsection 1, paragraph a, Code
22017, is amended by striking the paragraph.
3 Sec. 2. APPLICABILITY. This Act applies to high quality
4jobs program agreements entered into by an eligible business
5and the economic development authority on or after July 1,
62017, and high quality jobs program agreements entered into by
7an eligible business and the economic development authority
8prior to July 1, 2017, shall be governed by section 15.335A,
9Code 2017.
10EXPLANATION
11The inclusion of this explanation does not constitute agreement with
12the explanation’s substance by the members of the general assembly.
13The high quality jobs program administered by the economic
14development authority makes several types of tax incentives
15available to eligible businesses that engage in a project in
16the state. The type and amount of tax incentives available
17is determined, among other factors, using a progressive scale
18based on the number of jobs created or retained by the project
19and the amount of qualifying capital investment involved in
20the project. Under the first and lowest category on the
21tax incentive scale, an eligible business is eligible for
22certain tax incentives according to the amount of qualifying
23capital investment it makes, and if the number of jobs created
24or retained by the project is zero. The bill strikes that
25category. An eligible business will now be required to engage
26in a project that creates or retains at least one job in order
27to qualify for tax incentives under the program.
28The bill applies to high quality jobs program agreements
29entered into on or after July 1, 2017, and high quality jobs
30program agreements entered into prior to July 1, 2017, shall be
31governed by current law.
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2quality jobs program and including applicability provisions.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 15.335A, subsection 1, paragraph a, Code
22017, is amended by striking the paragraph.
3 Sec. 2. APPLICABILITY. This Act applies to high quality
4jobs program agreements entered into by an eligible business
5and the economic development authority on or after July 1,
62017, and high quality jobs program agreements entered into by
7an eligible business and the economic development authority
8prior to July 1, 2017, shall be governed by section 15.335A,
9Code 2017.
10EXPLANATION
11The inclusion of this explanation does not constitute agreement with
12the explanation’s substance by the members of the general assembly.
13The high quality jobs program administered by the economic
14development authority makes several types of tax incentives
15available to eligible businesses that engage in a project in
16the state. The type and amount of tax incentives available
17is determined, among other factors, using a progressive scale
18based on the number of jobs created or retained by the project
19and the amount of qualifying capital investment involved in
20the project. Under the first and lowest category on the
21tax incentive scale, an eligible business is eligible for
22certain tax incentives according to the amount of qualifying
23capital investment it makes, and if the number of jobs created
24or retained by the project is zero. The bill strikes that
25category. An eligible business will now be required to engage
26in a project that creates or retains at least one job in order
27to qualify for tax incentives under the program.
28The bill applies to high quality jobs program agreements
29entered into on or after July 1, 2017, and high quality jobs
30program agreements entered into prior to July 1, 2017, shall be
31governed by current law.
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