Tuesday, February 06, 2007
Governor Culver Signs Bill for Funding Improvements
Governor Signs HF 95, Designating Pilot Project Cities for Tax Credits to Fund Urban Renewal Areas
(Des Moines) Today, Governor Chet Culver signed House File 95, an Act relating to the designation of pilot project cities for a targeted jobs withholding tax credit to be used for funding improvements in certain urban renewal areas.
Signing this bill clarifies the types of communities that will be eligible to be designated as pilot-project cities under the Targeted Jobs Withholding Tax Credit Program created by the Iowa Legislature in 2006.
This program is designed to help generate economic growth in selected cities along Iowa’s western and eastern borders by allowing these communities to provide tax credits to qualified businesses that are making certain types of capital improvements and creating jobs.