A bill for an act relating to the redevelopment tax credit program, the nuisance property remediation assistance fund, and assistance for communities to address abandoned buildings.

HF 131 creates new incentives for communities to address large abandoned buildings and underutilized commercial properties. It allows cities with populations under 30,000 to receive a two-year redevelopment tax credit for grayfield sites over 50,000 square feet, and provides cities with up to $500,000 in forgivable loans (with 25% forgiven upon successful remediation) for cleaning, repurposing, or selling properties of 50,000+ square feet. The bill also expands funding for communities to address abandoned buildings, enabling cities with 5,000-30,000 residents to receive up to $10 per square foot (capped at $1 million) for waste abatement, recycling, and renovation. These provisions directly affect small and mid-sized Iowa communities seeking to revitalize neglected properties.