Iowa HSB208 amends urban renewal and revitalization laws to exclude gaming properties from urban renewal projects and tax increment financing.

Iowa HSB208 modifies the state's urban renewal and revitalization laws to exclude properties where a gaming license has been issued on or after January 1, 2025. The bill ensures that urban renewal plans and assessment agreements do not include projects or areas related to these gaming properties. It also specifies that the minimum actual value of land and improvements on these properties must be set at the project cost presented to the state racing and gaming commission. Additionally, the bill excludes these gaming properties from the division of revenue under tax increment financing.

Iowa HSB208 amends urban renewal and revitalization laws to exclude gaming properties from urban renewal projects and tax increment financing.

Iowa HSB208 modifies the state's urban renewal and revitalization laws to exclude properties where a gaming license has been issued on or after January 1, 2025. The bill ensures that urban renewal plans and assessment agreements do not include projects or areas related to these gaming properties. It also specifies that the minimum actual value of land and improvements on these properties must be set at the project cost presented to the state racing and gaming commission. Additionally, the bill excludes these gaming properties from the division of revenue under tax increment financing.