Iowa HF131 amends redevelopment tax credit program, nuisance property remediation fund, and assistance for abandoned buildings.

Iowa HF131 amends the redevelopment tax credit program to allow a two-year tax credit for grayfield sites over 50,000 square feet in communities with populations under 30,000. It modifies the nuisance property remediation assistance fund to provide financial assistance, including loans, for remediation of nuisance properties, abandoned buildings, and other structures of 50,000 square feet or more. Twenty-five percent of the loan or forgivable loan may be forgiven upon successful remediation.

Iowa HF131 amends redevelopment tax credit program, nuisance property remediation fund, and assistance for abandoned buildings.

Iowa HF131 amends the redevelopment tax credit program to allow a two-year tax credit for grayfield sites over 50,000 square feet in communities with populations under 30,000. It modifies the nuisance property remediation assistance fund to provide financial assistance, including loans, for remediation of nuisance properties, abandoned buildings, and other structures of 50,000 square feet or more. Twenty-five percent of the loan or forgivable loan may be forgiven upon successful remediation.