Bill Text: IA SF2247 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act relating to awarding historic preservation tax credits to rehabilitate vacant school buildings or other public buildings into child care facilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-02-18 - Subcommittee: R. Smith, Brown, and Dotzler. S.J. 336. [SF2247 Detail]
Download: Iowa-2019-SF2247-Introduced.html
Senate
File
2247
-
Introduced
SENATE
FILE
2247
BY
MATHIS
A
BILL
FOR
An
Act
relating
to
awarding
historic
preservation
tax
credits
1
to
rehabilitate
vacant
school
buildings
or
other
public
2
buildings
into
child
care
facilities.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
404A.1,
subsection
8,
Code
2020,
is
1
amended
to
read
as
follows:
2
8.
a.
“Qualified
rehabilitation
project”
means
a
project
3
under
paragraph
“b”
or
a
project
for
the
rehabilitation
4
of
property
in
this
state
that
meets
all
of
the
following
5
criteria:
6
a.
(1)
The
property
is
at
least
one
of
the
following:
7
(1)
(a)
Property
listed
on
the
national
register
of
8
historic
places
or
eligible
for
such
listing.
9
(2)
(b)
Property
designated
as
of
historic
significance
to
10
a
district
listed
in
the
national
register
of
historic
places
11
or
eligible
for
such
designation.
12
(3)
(c)
Property
or
district
designated
a
local
landmark
13
by
a
city
or
county
ordinance.
14
(4)
(d)
A
barn
constructed
prior
to
1937.
15
b.
(2)
The
property
meets
the
physical
criteria
and
16
standards
for
rehabilitation
established
by
the
department
by
17
rule.
To
the
extent
applicable,
the
physical
standards
and
18
criteria
shall
be
consistent
with
the
United
States
secretary
19
of
the
interior’s
standards
for
rehabilitation.
20
c.
(3)
The
project
has
qualified
rehabilitation
21
expenditures
that
meet
or
exceed
the
following:
22
(1)
(a)
In
the
case
of
commercial
property,
expenditures
23
totaling
at
least
fifty
thousand
dollars
or
fifty
percent
of
24
the
assessed
value
of
the
property,
excluding
the
land,
prior
25
to
rehabilitation,
whichever
is
less.
26
(2)
(b)
In
the
case
of
property
other
than
commercial
27
property,
including
but
not
limited
to
barns
constructed
prior
28
to
1937,
expenditures
totaling
at
least
twenty-five
thousand
29
dollars
or
twenty-five
percent
of
the
assessed
value,
excluding
30
the
land,
prior
to
rehabilitation,
whichever
is
less.
31
b.
A
vacant
school
building
or
other
vacant
public
building
32
located
in
this
state
is
a
qualified
rehabilitation
project
if
33
all
of
the
following
apply:
34
(1)
The
project
is
for
the
rehabilitation
of
the
building
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into
a
child
care
facility
as
defined
in
section
237A.1.
1
(2)
The
building
meets
the
physical
criteria
and
standards
2
for
rehabilitation
established
by
the
department
by
rule.
To
3
the
extent
applicable,
the
physical
standards
and
criteria
4
shall
be
consistent
with
the
United
States
secretary
of
the
5
interior’s
standards
for
rehabilitation.
6
(3)
A
building
qualifies
as
a
vacant
building
under
this
7
paragraph
if
the
building
is
scheduled
to
become
vacant
within
8
one
year
of
the
date
of
application
pursuant
to
section
404A.3.
9
Sec.
2.
Section
404A.4,
subsection
1,
Code
2020,
is
amended
10
by
adding
the
following
new
paragraph:
11
NEW
PARAGRAPH
.
c.
Of
the
tax
credits
awarded
in
a
fiscal
12
year
pursuant
to
paragraph
“a”
,
at
least
five
percent
of
13
the
dollar
amount
of
the
tax
credits
shall
be
allocated
for
14
purposes
of
qualified
rehabilitation
projects
under
section
15
404A.1,
subsection
8,
paragraph
“b”
.
If
by
March
1
of
a
fiscal
16
year
the
entire
five
percent
of
the
tax
credits
is
not
awarded,
17
the
remaining
tax
credits
shall
be
available
to
any
other
18
eligible
applicants.
19
EXPLANATION
20
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
21
the
explanation’s
substance
by
the
members
of
the
general
assembly.
22
This
bill
relates
to
awarding
historic
preservation
tax
23
credits
to
rehabilitate
vacant
school
buildings
or
other
public
24
buildings
into
child
care
facilities
as
defined
in
Code
section
25
237A.1.
26
Under
the
bill,
a
project
is
eligible
for
historical
27
preservation
tax
credits
under
Code
chapter
404A
if
the
project
28
is
for
the
rehabilitation
of
a
vacant
school
building
or
other
29
public
building
into
a
child
care
facility,
and
meets
the
30
physical
criteria
and
standards
for
rehabilitation
established
31
by
the
department
of
cultural
affairs
by
rule.
The
bill
32
specifies
that
a
building
qualifies
as
a
vacant
building
if
the
33
building
is
scheduled
to
become
vacant
within
one
year
of
the
34
date
of
the
application
for
historic
preservation
tax
credits.
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Currently,
historic
preservation
tax
credits
awards
1
shall
not
exceed
$45
million
in
any
one
fiscal
year
under
2
most
circumstances.
Of
the
aggregate
amount
of
historic
3
preservation
tax
credits
eligible
to
be
awarded
in
any
one
4
fiscal
year,
the
bill
requires
that
5
percent
of
the
aggregate
5
amount
of
such
tax
credits
shall
be
allocated
for
purposes
of
6
qualified
rehabilitation
projects
to
rehabilitate
vacant
school
7
buildings
or
other
public
buildings
into
child
care
facilities.
8
If
by
March
1
of
a
fiscal
year
the
entire
5
percent
of
the
tax
9
credits
is
not
awarded,
the
remaining
tax
credits
shall
be
10
available
to
any
other
eligible
applicants.
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