A bill for an act relating to Iowa’s urban renewal law by modifying the division of revenue, and including applicability provisions.

This bill modifies Iowa's urban renewal tax rules to clarify how property tax revenue is shared between cities and school districts. It ensures that excess taxes collected for urban renewal projects are used to pay off city debt and support low-income housing, while explicitly excluding certain school and emergency service taxes from this specific revenue-sharing arrangement. The changes apply to property taxes due in fiscal years starting on or after July 1, 2027.