Amends definition of "retailer maintaining a place of business in this state" for the collection of sales tax from out-of-state retailers.

Makes changes to the urban renewal law.

Makes changes to competitive bidding requirements for construction on properties that certain government entities will lease or lease-purchase.

Prohibits a state agency from implementing or enforcing any standard, requirement, or threshold unless explicitly required or permitted by a state statute or a federal statute or regulation.

Repeals certain state income tax credits, and provides for the future repeal of tax credits.

Makes changes to existing water quality programs.

Authorizes gambling licensees to conduct sports betting.

Amends the definition of "small city" for eligibility for the Workforce Housing Tax Incentives Program to include any city or township located in whole or in part in one of the 88 least populated counties.

A permanent $180-200 million/year that flows into the Natural Resources and Outdoor Recreation Trust Fund, at least 60% of which would have to be used for specific water quality.

Would remove the $5.40 levy from the TIF increment for all future projects.

Changes the central assessment process for telegraph and telephone companies.

This bill would remove the $5.40 school levy and the county basic levy (roughly $3.50/1000) from the TIF increment, drastically lowering the amount for which can be bonded for on a project.

Opt-In: This bill would allow a school district to opt all or a part of their $5.40 levy into the increment voluntarily, but with the understanding that the revenues would no longer be backfilled by the State. The bill would allow the county to opt all or part of their county basic levy into the increment voluntarily. 

Summary: The bill would reduce by roughly $8.90/1000 the bonding capability of TIF, crippling the tool in most cases.  Unless a developer was able to get the school and county to opt the levies into a project, but since some counties and school boards do not meet very often, the timing required to put deals together could kill projects.

Lowers the property tax exemption for forest reservations.

Revises calculations for the general fund expenditure limitation, increases reserve fund balances, creates a safety net fund, creates an Iowa personal income tax rate reduction fund, and provides for related state personal income tax rate reductions.

Cuts the current fiscal year (FY18) budget by $50.1 million, about $20 million more than the Governors' recommendation.  Cuts regional tourism marketing, skilled worker and job creation fund, hawk-i, autism support program fund, Regents universities, community colleges, vocational rehabilitation, autism support program, human services,

 

Amends several agriculture and natural resources programs.

Allows investment tax credit to an eligible business.

Makes changes to the state and local workforce development boards.

Changes the central assessment process for telegraph and telephone companies.

Creates the Iowa Industrial Hemp Act.

Makes changes to income taxes, the sales and use taxes and local option sales tax, the hotel and motel excise tax, the automobile rental excise tax, the Iowa educational savings plan trust, and the Iowa ABLE savings plan trust.

Allows EDA to grant an extension for up to one year from the date the extension for eligible housing businesses to complete building or rehabilitation projects.