HF2772: Economic Development Budget

Appropriates $38.9 million for fiscal year 2027 (which begins on July 1, 2026) for the Economic Development Authority, Iowa Finance Authority, Department of Workforce Development, and economic development activities of the state universities. This is a decrease of $1.4 million compared to current spending.  New funding for: UNI nursing program ($600,000) and extending UNI in-state tuition to out-of-state students ($1 million). Increases funding for: Manufacturing 4.0 by $333,325 ($2.35 million total). No change in funding for: tourism ($1.05 million); tourism marketing ($1.4 million); HCBS rent subsidies ($873,000); housing renewal program ($550,000); vocational rehabilitation ($6,226,739); entrepreneurs with disabilities program ($138,506); community college grants for adult literacy for English Language Learners ($500,000); registered apprenticeships ($760,000); BIG Program ($11.7 million); Main Street Iowa ($1 million); Empower Rural Iowa ($700,000); Regents economic development ($3 million); and RefugeeRISE ($210,000). Cuts funding for: Iowa Arts Council by $170,000; international trade by $143,000; adult education and literacy in community colleges by $1 million; and World Food Prize by $50,000 ($450,000 total). Eliminates funding for: Councils of Governments ($350,000).  Other changes: Codifies the Housing Renewal Program. Effective 7/1/2026. For more information go to: https://www.legis.iowa.gov/docs/publications/NOBA/1604867.pdf.