A bill for an act relating to economic development and housing by modifying provisions concerning economic development programs and modifying provisions concerning Iowa’s urban renewal law, and including applicability provisions.

SSB 1214 modifies Iowa's economic development and urban renewal laws, primarily to support housing initiatives. The bill expands the definition of "economic development" to include workforce housing and requires municipalities to consider workforce housing development when allocating public funds for economic development. For certain urban renewal projects approved after July 1, 2025, related to housing in long-established city areas, the bill caps the required low and moderate-income family housing assistance at 20% of the original project cost. It also extends the duration of tax increment financing (TIF) for these specific housing projects from 10 to 20 years.