The Iowa Legislature

State of Iowa

Eighty-Second General Assembly

STATEHOUSE

Des Moines, Iowa 50319

For Immediate Release Contact: Sen. Jeff Angelo

Thursday, March 29, 2007 (515) 281-3371

Senate Democrats Vote Against Main Street Communities

DES MOINES – Iowa Senate Democrats today voted down an amendment proposed by Sen. Jeff Angelo (R-Creston) to help more Iowa communities with Main Street revitalization efforts.

“Senate Democrats turned their back on Main Street revitalization efforts,” said Angelo.

Angelo proposed his amendment to Senate File 566, a bill that increases the dollar amount for historic rehabilitation tax credits.

Under the legislation, 40 percent of the tax credits are earmarked for projects within certified cultural and entertainment districts or projects in communities designated as Iowa Great Places.

Angelo’s amendment would have added projects under Main Street Iowa program to the list of those eligible for the earmarked tax credits.

“While there is state money available in the Main Street program for technical assistance, there is no state money available to complete the actual revitalization projects,” said Angelo, who is ranking member on the Senate Appropriations Committee. “These tax credits can help communities get their revitalization efforts off the ground. It’s important they are earmarked because we have so many projects competing for a limited number of tax credits. I want Main Street programs to have a shot at them before they are gobbled up by other projects across the state.”

There are 34 active Main Street Communities throughout the state. Between 1986-2005 the Main Street program resulted in 2,771 net new or expanded businesses and 7,591 net new jobs.

“Main Street Communities are just as important as Iowa Great Places and cultural and entertainment districts,” said Angelo. “If Democrats believe tax credits should be reserved for Iowa Great Places and cultural and entertainment districts, why shouldn’t they be reserved for Main Street communities.”

The bill ultimately went on to pass the Senate by a vote of 48-0. It now goes to the House for more debate.

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