Bill Text: IA HSB127 | 2025-2026 | 91st General Assembly | Introduced
Bill Title: A bill for an act relating to small businesses and the community attraction and tourism program.
Spectrum: Committee Bill
Status: (Introduced) 2025-02-11 - Subcommittee recommends passage. [HSB127 Detail]
Download: Iowa-2025-HSB127-Introduced.html
House
Study
Bill
127
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
ECONOMIC
GROWTH
AND
TECHNOLOGY
BILL
BY
CHAIRPERSON
SORENSEN)
A
BILL
FOR
An
Act
relating
to
small
businesses
and
the
community
1
attraction
and
tourism
program.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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H.F.
_____
Section
1.
Section
15F.201,
Code
2025,
is
amended
by
adding
1
the
following
new
subsection:
2
NEW
SUBSECTION
.
4.
“Small
business”
means
any
enterprise
3
which
is
located
in
this
state,
which
is
operated
for
profit
4
and
under
a
single
management,
and
which
has
either
fewer
than
5
twenty
employees
or
an
annual
gross
income
of
less
than
four
6
million
dollars
computed
as
the
average
of
the
enterprise’s
7
immediately
preceding
three
consecutive
fiscal
years.
8
Sec.
2.
Section
15F.202,
subsection
2,
unnumbered
paragraph
9
1,
Code
2025,
is
amended
to
read
as
follows:
10
A
city
or
county
in
the
state
or
,
a
public
organization
,
or
11
a
small
business
may
submit
an
application
to
the
board
for
12
financial
assistance
for
a
project
under
the
program.
The
13
assistance
shall
be
provided
only
from
funds,
rights,
and
14
assets
legally
available
to
the
board
and
shall
be
in
the
form
15
of
grants,
loans,
forgivable
loans,
and
credit
enhancement
and
16
financing
instruments.
The
application
shall
include,
but
not
17
be
limited
to,
the
following
information:
18
Sec.
3.
Section
15F.204,
subsections
5,
6,
and
7,
Code
2025,
19
are
amended
to
read
as
follows:
20
5.
The
board
shall
allocate
all
moneys
in
the
fund
in
the
21
following
manner:
22
a.
One-third
of
the
moneys
shall
be
allocated
to
provide
23
assistance
to
cities
and
counties
,
or
to
small
businesses
24
located
wholly
within
the
city
or
county,
which
meet
the
25
following
criteria:
26
(1)
A
city
which
has
a
population
of
ten
thousand
or
less
27
according
to
the
most
recently
published
census.
28
(2)
A
county
which
has
a
population
that
ranks
in
the
bottom
29
thirty-three
counties
according
to
the
most
recently
published
30
census.
31
b.
Two-thirds
of
the
moneys
shall
be
allocated
to
provide
32
assistance
to
any
small
business,
city
,
and
county
in
the
33
state,
which
may
include
a
small
business,
city
,
or
county
34
included
under
paragraph
“a”
.
35
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H.F.
_____
6.
If
two
or
more
cities
,
or
counties
,
or
small
businesses
1
submit
a
joint
project
application
for
financial
assistance
2
under
the
program,
all
joint
applicants
must
meet
the
criteria
3
of
subsection
5
,
paragraph
“a”
,
in
order
to
receive
any
moneys
4
allocated
under
that
paragraph.
5
7.
If
any
portion
of
the
allocated
moneys
under
subsection
6
5
,
paragraph
“a”
,
has
not
been
awarded
by
April
1
of
the
fiscal
7
year
for
which
the
allocation
is
made,
the
portion
which
has
8
not
been
awarded
may
be
utilized
by
the
board
to
provide
9
financial
assistance
under
the
program
to
any
small
business,
10
city
,
or
county
in
the
state.
11
EXPLANATION
12
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
13
the
explanation’s
substance
by
the
members
of
the
general
assembly.
14
This
bill
permits
a
small
business
to
submit
an
application
15
for
financial
assistance
through
the
community
attraction
and
16
tourism
program.
“Small
business”
is
defined
in
the
bill.
The
17
bill
makes
conforming
changes
to
Code
section
15F.204.
18
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