House File 975 is a legislative act aimed at enhancing economic development, infrastructure, and tax credit frameworks in Iowa. The bill repeals certain sections of the Code 2025, including the Iowa innovation council and the brownfield redevelopment fund, while introducing new tax credit structures for brownfields, grayfields, and redevelopment projects. It also shifts the application review process for financial assistance programs from the council to the economic development authority, allowing for the involvement of outside experts. Additionally, the bill includes retroactive applicability provisions for applicants who previously received financial assistance under the Vision Iowa and Community Attraction and Tourism programs.

The act further addresses homelessness by empowering the Iowa Finance Authority to adopt operational rules and establishing a title guaranty division to manage real property title guaranties. It introduces a title guaranty fund to support these operations and extends project timelines. The bill also amends various sections of the Iowa Code, particularly concerning the title guaranty division and the Iowa arts council, by requiring updated title abstracts and clarifying the authority's ability to issue closing protection letters. Significant deletions include the removal of the board's designation in various sections, transferring responsibilities directly to the division or authority, and repealing sections related to the Iowa cultural trust and the Iowa great places program, with remaining funds redirected to the new arts and culture enhancement fund. Furthermore, it increases the maximum area for reinvestment districts from seventy-five to one hundred twenty-five acres for districts approved after July 1, 2020, with retroactive applicability.

Statutes affected:
Introduced: 15.117A, 15.313, 15.293B, 15F.302, 15F.402, 404A.1, 404A.3, 404A.2, 16.5F, 16.1A, 16.2A, 16.2, 16.92, 16.93, 15.108, 15.479, 22.7, 15.106A, 15.466, 99F.11, 15.437, 16.64, 15J.4
Enrolled: 15.117A, 15.313, 15.293B, 15F.302, 15F.402, 404A.1, 404A.3, 404A.2, 16.5F, 16.1A, 16.2A, 16.2, 16.92, 16.93, 15.108, 15.479, 22.7, 15.106A, 15.466, 99F.11, 15.437, 16.64, 15J.4