This bill amends Iowa's urban renewal law by adding a provision that prohibits the use of school district foundation property taxes for certain urban renewal projects. Specifically, it states that any school district property taxes levied under section 257.3 and deposited into a municipality's special fund cannot be used for urban renewal projects approved on or after January 1, 2025, if those projects involve the planning, construction, or operation of a stadium or arena primarily intended for professional sports teams.

The bill emphasizes the importance of directing school district funds towards educational purposes rather than supporting professional sports facilities. It is designed to ensure that taxpayer money is not allocated to projects that do not directly benefit the educational system. The legislation is effective immediately upon enactment.

Statutes affected:
Introduced: 403.19