A bill for an act relating to rehabilitation projects and tax incentives under the workforce housing tax incentives program.

This bill (HSB 730) amends Iowa's workforce housing tax incentive program to specifically include rehabilitation projects. It defines a "rehabilitation project" as one rehabilitating dilapidated housing (with minimum unit requirements) for resale as primary residences, and sets aside $5 million annually for such projects - $2.5 million reserved for small cities. The bill increases the annual tax incentive cap from $35-$36.5 million to $40 million, limits total incentives per housing business to $1 million, and removes first-come, first-served allocation. It directly affects developers of workforce housing rehabilitation projects, particularly those in small cities seeking tax incentives.