Iowa SF2436 modifies the division of school district foundation property taxes for urban renewal projects.
Iowa SF2436 excludes school district foundation property taxes from the division of revenue under tax increment financing. Instead, it allows school districts to voluntarily pay these taxes to municipalities for urban renewal projects. This payment is optional and does not affect state foundation aid or other amounts under chapter 257. The bill applies to property taxes due and payable in fiscal years beginning on or after July 1, 2027.
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