Bill Text: IA SF2106 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act relating to qualifying investments for redevelopment tax credits and including applicability provisions.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-02-02 - Subcommittee, Dotzler, Bertrand, and Mathis. S.J. 183. [SF2106 Detail]
Download: Iowa-2011-SF2106-Introduced.html
Senate
File
2106
-
Introduced
SENATE
FILE
2106
BY
DOTZLER
A
BILL
FOR
An
Act
relating
to
qualifying
investments
for
redevelopment
tax
1
credits
and
including
applicability
provisions.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
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S.F.
2106
Section
1.
Section
15.291,
subsection
5,
Code
Supplement
1
2011,
is
amended
to
read
as
follows:
2
5.
“Qualifying
investment”
means
costs
that
are
directly
3
related
to
a
qualifying
redevelopment
project
and
that
4
are
incurred
after
an
application
for
the
project
has
been
5
registered
and
approved
by
filed
with
the
board
authority
.
6
“Qualifying
investment”
only
includes
the
purchase
price,
the
7
cleanup
costs,
and
the
redevelopment
costs.
8
Sec.
2.
APPLICABILITY.
This
Act
applies
to
applications
9
filed
on
and
after
July
1,
2012.
10
EXPLANATION
11
This
bill
relates
to
qualifying
investments
for
12
redevelopment
tax
credits.
13
Currently,
for
a
redevelopment
tax
credit,
the
term
14
qualifying
investment
means
certain
costs
related
to
a
15
qualifying
redevelopment
project
that
are
incurred
after
the
16
project
has
been
registered
and
approved
by
the
economic
17
development
authority
board.
The
bill
provides
that
the
term
18
qualifying
investment
means
certain
costs
that
are
incurred
19
after
an
application
for
a
project
has
been
filed
with
the
20
economic
development
authority.
21
The
bill
applies
to
applications
filed
on
and
after
July
1,
22
2012.
23
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