This bill amends Iowa's urban renewal law by modifying the allocation of revenue related to property taxes. Specifically, it introduces a provision that excludes property taxes for emergency medical services imposed under Code chapter 422D from being included in the division of revenue, or tax increment financing, as outlined in Code section 403.19. The bill clarifies that while certain taxes, such as those for school district levies and bonds, are still subject to the provisions of this subsection, the newly inserted language ensures that emergency medical services taxes are collected without limitation by these provisions.

Additionally, the bill establishes that these changes will apply to property taxes that are due and payable in fiscal years beginning on or after July 1, 2026. This timeline allows municipalities and taxing districts to prepare for the new allocation rules regarding urban renewal financing and the treatment of emergency medical services taxes.

Statutes affected:
Introduced: 403.19