Bill > SSB1159

Introduced Session

This bill relates to Iowa’s urban renewal and urban revitalization laws. The bill prohibits an urban renewal plan from including projects related to the property upon which a license has been issued on or after January 1, 2025, to a licensee to conduct gambling games pursuant to Code chapter 99F and prohibits the urban renewal area from including the property upon which such S.F. _____ a licensee operates. The bill specifies that a minimum assessment agreement in either an urban renewal or urban revitalization area involving property upon which a licensee, issued a license to conduct gambling games pursuant to Code chapter 99F on or after January 1, 2025, will operate shall establish the minimum actual value at an amount not less than the project cost presented to the state racing and gaming commission as part of the license approval. The bill excludes from a division of revenue (tax increment financing) under Code section 403.19, property taxes levied against a property upon which a licensee, issued a license under Code chapter 99F on or after January 1, 2025, operates. The bill takes effect upon enactment and the section of the bill amending Code section 403.19 applies to property taxes due and payable in fiscal years beginning on or after July 1, 2025.

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Other Sponsors (1)

Committee report approving bill, renumbered as SF 511. (on 03/03/2025)

Official Document