This bill amends Iowa's urban renewal law by modifying the allocation of certain property tax revenues. Specifically, it introduces new provisions that exclude 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 section 403.19. The bill clarifies that while other taxes, such as those for school district levies and instructional support programs, will still be subject to these provisions, the new insertion ensures that emergency medical services taxes are collected without limitation by the urban renewal revenue allocation rules.

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 regulations regarding the allocation of tax revenues related to urban renewal projects and emergency medical services.

Statutes affected:
Introduced: 403.19