Iowa · statute · Iowa Code ch. 404A · 6 active provisions
For purposes of this chapter, unless the context otherwise requires: 1. “Authority” means the economic development authority created in section 15.105. 2. “Eligible taxpayer” means the owner of the property that is the subject of a qualified rehabilitation project, or another person who will qualify for the federal reh…
1. An eligible taxpayer who has entered into an agreement under section 404A.3, subsection 3, is eligible to receive a historic preservation tax credit in an amount equal to twenty-five percent of the qualified rehabilitation expenditures of a qualified rehabilitation project that are specified in the agreement. Notwit…
1Application and fees. a. An eligible taxpayer seeking historic preservation tax credits provided in section 404A.2 shall make application to the authority in the manner prescribed by the authority. b. The authority may accept applications on a continuous basis or may accept applications, or one or more components of a…
1. a. Except as provided in subsections 2, 3, and 4, the authority shall not award in any one fiscal year an amount of tax credits provided in section 404A.2 in excess of forty-five million dollars. b. Of the tax credits that may be awarded in a fiscal year pursuant to paragraph “a”, at least five percent of the dollar…
1. The authority, in consultation with the department of revenue, shall be responsible for keeping the general assembly and the legislative services agency informed on the overall economic impact to the state of qualified rehabilitation projects. 2. An annual report shall be filed which shall include but is not limited…
The authority and the department of revenue shall each adopt rules as necessary for the administration of this chapter.