This bill outlines appropriations for the fiscal year 2025-2026 aimed at enhancing economic development in Iowa through targeted funding for various state agencies and programs. Key allocations include $12,999,646 for the Economic Development Authority, $873,000 for a rent subsidy program, and $550,000 for the housing renewal pilot program, which is extended by removing its repeal date. The bill also specifies funding for initiatives such as the high-quality jobs program and the entrepreneurship and economic growth initiative at the State University of Iowa, while mandating that businesses receiving financial assistance must employ individuals legally authorized to work in the U.S.

In addition to funding allocations, the bill makes several amendments to existing laws, including a reduction in the annual appropriation for the Economic Development Authority from $520,000 to $448,403 for operational support and community cultural grants. It also requires entities receiving funds to report on their expenditures and outcomes, ensuring accountability and transparency. The bill aims to foster economic growth through strategic initiatives, support for women entrepreneurs, and financial assistance to community economic development entities, while also establishing public-private partnerships to further enhance the state's economy.

Statutes affected:
Introduced: 15.313, 99F.11, 505.7