This bill outlines appropriations for Iowa's economic development for the fiscal year 2025-2026, focusing on enhancing the state's economy, increasing wealth, and boosting population growth. It allocates specific funding amounts to various entities, including $12,999,646 for the economic development authority, $1,000,000 for the World Food Prize, and $1,100,000 for the tourism office. Additionally, it designates funds for the Iowa finance authority and the department of workforce development, as well as for the three state universities, with specific allocations aimed at supporting biosciences innovation and additive manufacturing capabilities. Notably, the bill includes provisions that unencumbered funds will not revert at the end of the fiscal year but will remain available for designated purposes.

The bill also imposes restrictions on financial assistance, ensuring that jobs created through appropriated funds are filled by U.S. citizens or authorized workers. It mandates the economic development authority to submit an annual report detailing financial assistance awarded and the location of projects. Furthermore, it emphasizes the importance of directing research expenditures towards projects that stimulate Iowa's economy and requires annual reporting from the universities on private contributions and their impact on local businesses. The auditor of state is tasked with reviewing the audit of the Iowa finance authority, and various reports from the economic development authority and related entities are mandated to be submitted to the general assembly.