House File 2772 is a legislative bill that outlines appropriations and goals for economic development in Iowa for the fiscal year 2026-2027. It emphasizes the role of the Economic Development Authority in expanding the state economy and enhancing the quality of life for Iowans, mandating a focus on commercially viable products, free market practices, and community development. The bill allocates a total of $12,903,510 to the Economic Development Authority for various programs, including business development, tourism, and cultural affairs, while also restricting financial assistance to businesses that employ only individuals legally authorized to work in the U.S. Additionally, it codifies the Housing Renewal Program and appropriates funds for rent subsidies and housing renewal initiatives through the Iowa Finance Authority.

The bill introduces new legal language to create a housing renewal program fund under the authority's control, providing financial assistance to eligible participants such as cities and nonprofit organizations, with 25% of the funds specifically allocated to the least populated counties. It outlines criteria for awarding financial assistance, including income restrictions for homebuyers, and requires the authority to submit an annual report on the program's impact. Furthermore, the bill repeals a previous section of Iowa Acts related to these appropriations, streamlining the legislative framework for economic and housing development initiatives in the state.

Statutes affected:
Reprinted: 15.313
Enrolled: 15.313