A bill for an act relating to Iowa’s urban renewal law and urban revitalization law, by establishing provisions governing certain property used for gaming, and including effective date and applicability provisions.

This bill prohibits Iowa cities from including properties operating new gaming facilities (licensed under Chapter 99F after January 1, 2025) in urban renewal or revitalization plans. It requires that any property valuation agreements for such gaming sites must set a minimum value equal to the project cost submitted to the state gaming commission during license approval. The bill also excludes taxes from these gaming properties from being used in tax increment financing for urban renewal projects. These provisions apply to properties with licenses issued on or after January 1, 2025, and affect municipal planning and tax allocation for cities developing urban renewal areas.