This bill amends the workforce housing tax incentives program in Iowa by increasing the maximum amount of tax credits available. Specifically, it raises the cap on the total tax incentives from $35 million to $50 million. Additionally, the bill increases the allocation reserved for qualified housing projects in small cities from $17.5 million to $25 million. These changes aim to enhance support for housing development in smaller communities and stimulate economic growth through increased investment in workforce housing.

The adjustments made in this bill reflect a commitment to addressing housing needs in Iowa, particularly in smaller cities, by providing more substantial financial incentives for housing projects. The new allocations are designed to encourage the development of affordable housing options, thereby benefiting local economies and communities.

Statutes affected:
Introduced: 15.119