This bill amends the existing law regarding workforce housing project tax incentives issued by the economic development authority in Iowa. It removes the requirement for the authority to issue these tax incentives on a first-come, first-served basis, which was previously mandated until the maximum allowable amount for the fiscal year was reached. Instead, the bill allows the authority to issue tax incentives based on its determination that a workforce housing project is complete and all necessary requirements have been met, continuing until the maximum amount of tax incentives is achieved.

Additionally, the bill includes an effective date provision, stating that it takes effect immediately upon enactment. This change aims to provide more flexibility for the authority in administering tax incentives for workforce housing projects, potentially streamlining the process and encouraging the development of such projects in Iowa.

Statutes affected:
Introduced: 15.354