All Roll Calls
Yes: 128 • No: 13
IowaHF 97591st General Assembly (2025–2026)HouseWALLET
A bill for an act relating to matters under the purview of the economic development authority and the Iowa finance authority including the strategic infrastructure program, brownfield, grayfield, and redevelopment tax credits, community attraction and tourism, vision Iowa, sports tourism marketing, the historic preservation tax credit, homelessness, the title guaranty board, arts and culture, and the Iowa reinvestment Act and including applicability and retroactive applicability provisions. (Formerly HSB 221.) Effective date: 07/01/2025. Applicability date: 07/01/2020, 07/01/2025.
Sponsored By: COMMITTEE ON WAYS AND MEANS
Signed by Governor
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Bill Overview
Analyzed Economic Effects
10 provisions identified: 4 benefits, 0 costs, 6 mixed.
Historic rehab credits: new caps and deadlines
The state caps historic preservation tax credits at $45 million per year. For a single project that earns $10 million or more in credits, the authority can go up to 20% over the cap, but it counts against next year. Single‑family homes generally do not qualify unless the work creates two or more new units in the same neighborhood that were not available for six months. You must start within one year of your registration date (the day the authority confirms registration) and finish within 36 months of starting. The authority can grant up to a 12‑month start extension and up to two 12‑month finish extensions for serious reasons. These rules begin July 1, 2025.
State title guaranty and closing protections
On July 1, 2025, the state creates a Title Guaranty Division to run a self‑funded title guaranty program. It requires an up‑to‑date abstract and a participating attorney’s title opinion before issuing a guaranty. A mortgage qualifies only if the original loan amount is at or below a dollar cap set by rule. The division can issue closing protection letters on request, but coverage cannot exceed the commitment or guaranty and reduces any guaranty payout. The board sets coverage amounts and may set different limits by property type.
New rules for redevelopment tax credits
Starting July 1, 2025, the board and council set redevelopment credit amounts within legal caps. The authority reviews applications with the council, can hire experts, and scores applications competitively, considering need, quality, and feasibility. Registered projects must be finished within 30 months unless extended; late projects lose the credit. Investors must hire an Iowa‑licensed CPA to examine final costs before the authority issues a tax credit certificate.
Old brownfield credit ended; funds moved
On July 1, 2025, the law repeals the statutes that created the brownfield/grayfield redevelopment tax credit program. Any unspent money in the brownfield redevelopment fund moves to other economic development funds under section 15.335B as chosen by the authority. This ends the old credit but keeps remaining dollars in state development efforts.
EDA director can reorganize divisions
Starting July 1, 2025, the economic development authority’s director can create or change internal divisions after consulting the board. This helps align staff with program needs while keeping board input.
New arts and culture fund, yearly money
The state creates the Arts and Culture Enhancement Fund on July 1, 2025. The fund supports city and nonprofit arts groups, artists, rural access, and film and TV projects. Interest stays in the fund, and money does not revert each year. Each year, $520,000 goes to the authority, split about $260,000 for operations grants and $260,000 for community cultural grants or deposit. Any leftover money in Iowa Great Places and cultural trust accounts moves into the new fund.
60‑day limit to contest authority bonds
The authority must publish a notice before issuing bonds. After 60 days from the notice and once the board decides to proceed, no one can sue to question the bond’s legality. This gives the market clearer timelines starting July 1, 2025.
Bigger development districts, applied to 2020
Districts approved on or after July 1, 2020 can cover up to 125 acres of contiguous parcels. Districts approved before July 1, 2018 stay capped at 25 acres. This change applies retroactively to July 1, 2020 and takes effect July 1, 2025.
New review panels and dual‑award rules
Starting July 1, 2025, a new committee reviews economic development financial help and makes recommendations to the board. The director must appoint five‑member expert panels to review Community Attraction and Tourism and Sports Tourism applications. The division also applies to anyone who received awards from both Vision Iowa and Community Attraction and Tourism, including past recipients. Section 15F.106 is repealed.
Arts programs reshaped; Great Places repealed
Starting July 1, 2025, the economic development authority runs more cultural work: the cultural trust, statewide arts planning, grants, surveys, and a film office. The Iowa Arts Council advises on programs, has three‑year member terms, and can gather public input. The state launches a program to promote National Historic Landmarks and cultural districts with signs, maps, and online tools. Capacity‑building help must target places in Great Places, Green Streets, Main Street Iowa, or disaster areas. Several Iowa Great Places and cultural trust statutes are repealed.
Sponsors & Cosponsors
Sponsor
COMMITTEE ON WAYS AND MEANS
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 5/12/2025
Passed Senate
Yes: 45 • No: 5
House vote • 4/21/2025
Passed House
Yes: 83 • No: 8
Actions Timeline
Signed by Governor.
6/6/2025GovernorFiscal note.
6/6/2025legislatureReported correctly enrolled, signed by Speaker and President, and sent to Governor.
5/22/2025SenateMessage from Senate.
5/12/2025SenateImmediate message.
5/12/2025legislaturePassed Senate, yeas 45, nays 5.
5/12/2025SenateAmendment S-3161 filed, lost.
5/12/2025legislatureSubstituted for SF 642.
5/12/2025legislatureAttached to SF 642.
4/23/2025legislatureRead first time, passed on file.
4/22/2025legislatureMessage from House.
4/22/2025HouseImmediate message.
4/21/2025legislaturePassed House, yeas 83, nays 8.
4/21/2025HouseFiscal note.
4/3/2025legislatureIntroduced, placed on Ways and Means calendar.
3/24/2025legislature
Bill Text
As Introduced
Enrolled
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