Bill Text: IA HSB696 | 2017-2018 | 87th General Assembly | Introduced
Bill Title: A bill for an act relating to the workforce housing tax incentives program by providing for limited extensions of completion deadlines for housing projects, and including applicability provisions.
Spectrum: Committee Bill
Status: (N/A - Dead) 2018-05-02 - Subcommittee recommends passage. H.J. 929. [HSB696 Detail]
Download: Iowa-2017-HSB696-Introduced.html
House
Study
Bill
696
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
WAYS
AND
MEANS
BILL
BY
CHAIRPERSON
VANDER
LINDEN)
A
BILL
FOR
An
Act
relating
to
the
workforce
housing
tax
incentives
1
program
by
providing
for
limited
extensions
of
completion
2
deadlines
for
housing
projects,
and
including
applicability
3
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
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Section
1.
Section
15.354,
subsection
3,
paragraph
c,
Code
1
2018,
is
amended
to
read
as
follows:
2
c.
(1)
A
Except
as
provided
in
subparagraph
(2),
a
housing
3
business
shall
complete
its
housing
project
within
three
4
years
from
the
date
the
housing
project
is
registered
by
the
5
authority.
6
(2)
The
authority
may
for
good
cause
within
the
discretion
7
of
the
authority
extend
a
housing
project’s
completion
8
deadline
once
by
up
to
twelve
months
upon
application
by
9
the
housing
business,
which
application
shall
be
made
prior
10
to
the
expiration
of
the
three-year
completion
deadline
in
11
subparagraph
(1)
in
the
manner
and
form
prescribed
by
the
12
authority.
13
Sec.
2.
EXTENSION
APPLICATIONS
MADE
PRIOR
TO
AUGUST
1,
14
2018.
Notwithstanding
section
15.354,
subsection
3,
paragraph
15
“c”,
subparagraph
(2),
as
enacted
in
this
Act,
which
requires
16
that
a
housing
business
make
a
housing
project
completion
17
deadline
extension
application
prior
to
the
expiration
of
the
18
housing
project’s
three-year
completion
deadline,
a
written
19
request
by
a
housing
business
to
extend
a
housing
project’s
20
completion
deadline
shall
be
considered
a
timely
application
21
under
section
15.354,
subsection
3,
paragraph
“c”,
subparagraph
22
(2),
if
the
written
request
is
received
by
the
economic
23
development
authority
prior
to
August
1,
2018,
and
if
the
24
housing
business
provides
any
additional
information
requested
25
by
the
economic
development
authority.
26
Sec.
3.
APPLICABILITY.
This
Act
applies
to
housing
projects
27
registered
by
the
economic
development
authority
under
the
28
workforce
housing
tax
incentives
program
prior
to,
on,
or
after
29
July
1,
2018.
30
EXPLANATION
31
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
32
the
explanation’s
substance
by
the
members
of
the
general
assembly.
33
This
bill
relates
to
the
workforce
housing
tax
incentives
34
program
(program)
administered
by
the
economic
development
35
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_____
authority
(authority).
Under
current
law,
in
order
to
qualify
1
for
tax
incentives
under
the
program,
a
housing
business
must
2
complete
its
housing
project
within
three
years
from
the
date
3
the
housing
project
is
registered
by
the
authority.
The
bill
4
provides
that
the
authority
may
for
good
cause
extend
this
5
three-year
deadline
once
by
up
to
12
months
for
a
housing
6
project.
To
be
eligible
for
such
an
extension,
the
bill
7
requires
a
housing
business
to
apply
to
the
authority
before
8
the
expiration
of
its
housing
project’s
three-year
project
9
completion
deadline.
However,
the
bill
also
provides
that
10
notwithstanding
this
application
deadline,
a
written
request
by
11
a
housing
business
to
extend
its
housing
project’s
completion
12
deadline
shall
be
considered
a
timely
extension
application
13
if
the
written
request
is
received
by
the
authority
prior
to
14
August
1,
2018,
and
if
the
housing
business
provides
other
15
additional
information
requested
by
the
authority.
16
The
bill
applies
to
housing
projects
registered
under
the
17
program
prior
to,
on,
or
after
July
1,
2018.
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