This bill outlines appropriations for Iowa's economic development for the fiscal year 2025-2026, targeting various state agencies such as the Economic Development Authority (IEDA), Iowa Finance Authority (IFA), and the Department of Workforce Development (IWD). Key funding allocations include $12,999,646 for the IEDA and $650,000 for the World Food Prize, with specific amounts designated for initiatives like the high-quality jobs program, infrastructure grants, and the Empower Rural Iowa program. The bill emphasizes the importance of creating a supportive environment for businesses and entrepreneurs, promoting public-private partnerships, and enhancing the quality of life in the state.

Additionally, the bill eliminates the repeal of the housing renewal pilot program, allowing it to continue beyond July 1, 2025, and establishes restrictions on financial assistance to ensure that jobs created through state funding are filled by U.S. citizens or authorized workers. It mandates annual reporting on financial assistance awarded by the IEDA and requires entities receiving funds to testify before the joint appropriations subcommittee on economic development regarding their expenditures. The bill also includes a contingent appropriation from the Grow Iowa Values Fund and amends existing appropriations related to operational support and community cultural grants, reflecting a shift in funding priorities to enhance economic development and workforce preparation in Iowa.

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