This bill amends Iowa's urban renewal and urban revitalization laws by introducing specific provisions related to properties used for gaming. It establishes that urban renewal plans adopted or amended after the effective date of the Act cannot include projects related to properties where a licensee, licensed under chapter 99F after January 1, 2025, operates. Additionally, it mandates that any assessment agreements for such properties must set the minimum actual value of the land and improvements at no less than the project cost presented to the state racing and gaming commission during the license approval process.

Furthermore, the bill modifies the allocation of property taxes under section 403.19, stating that taxes levied against properties operated by licensees under chapter 99F after January 1, 2025, will not be included in the division of revenue for urban renewal projects. The Act is effective immediately upon enactment, with the provisions regarding property taxes applying to those due and payable in fiscal years beginning on or after July 1, 2025.

Statutes affected:
Introduced: 403.5, 403.6, 403.19, 403.9