Iowa SF652 modifies economic development programs and urban renewal law, focusing on workforce housing and tax increment financing.

Iowa SF652 amends economic development programs by including workforce housing as a consideration for public funds. It modifies urban renewal law by limiting the percentage of property value in urban renewal areas and adjusting tax increment financing. The bill also redefines "low and moderate income family housing" and excludes certain property taxes from tax increment financing. These changes apply to fiscal years beginning on or after July 1, 2026.

Iowa SF652 modifies economic development programs and urban renewal law, focusing on workforce housing and tax increment financing.

Iowa SF652 amends economic development programs by including workforce housing as a consideration for public funds. It modifies urban renewal law by limiting the percentage of property value in urban renewal areas and adjusting tax increment financing. The bill also redefines "low and moderate income family housing" and excludes certain property taxes from tax increment financing. These changes apply to fiscal years beginning on or after July 1, 2026.