A bill for an act relating to and making appropriations for the economic development of the state, including to the economic development authority, Iowa finance authority, department of workforce development, and state board of regents and certain regents institutions, and codifying the housing renewal program.

This bill allocates $12.9 million and 102.6 full-time equivalent positions to the Iowa Economic Development Authority for the 2026-2027 fiscal year to support business recruitment, expansion, and retention. It establishes specific goals for the authority to focus on commercially viable projects, adopt free-market practices, and coordinate with other agencies to foster an entrepreneurial environment. The legislation also includes restrictions requiring businesses receiving financial assistance to hire only individuals legally authorized to work in the United States and allows for the recapture of funds if a business knowingly violates this rule.