Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 59 - Enterprise Zone (EZ) Program › Rule 261-59.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
In addition to the standard definitions located in
				  261-Chapter 173, the following definitions apply to the EZ program:
"Act"
means Iowa Code sections
				  15E191. to
				  15E197. as amended by
				  2009 Iowa Acts, Senate File 344.
"Agricultural land"
as defined in Iowa Code
				  section
				  40317. means real
				  property owned by a person in tracts often acres or more and not laid off into
				  lots of less than ten acres or divided by streets and alleys into parcels of
				  less than ten acres, and that has been used for the production of agricultural
				  commodities during three out of the past five years. Such use of property
				  includes, but is not limited to, the raising, harvesting, handling, drying, or
				  storage of crops used for feed, food, seed, or fiber; the care or feeding of
				  livestock; the handling or transportation of crops or livestock; the storage,
				  treatment, or disposal of livestock manure; and the application of fertilizers,
				  soil conditioners, pesticides, and herbicides on crops. "Agricultural land"
				  includes land on which is located farm residences or outbuildings used for
				  agricultural purposes and land on which is located facilities, structures, or
				  equipment for agricultural purposes. "Agricultural land" includes land taken
				  out of agricultural production for purposes of environmental protection or
				  preservation.
"Annual base rent"
means the business's
				  annual lease payment minus taxes, insurance and operating or maintenance
				  expenses.
"Biotechnology-relatedprocesses"
means the
				  use of cellular and biomolecular processes to solve problems or make products.
				  Farming activities shall not be included for purposes of this
				  definition.
"Blighted area"
as defined in Iowa Code
				  section
				  40317. means an area
				  of a mimicipality within which the local governing body of the municipality
				  determines that the presence of a substantial number of slum, deteriorated, or
				  deteriorating structures; defective or inadequate street layout; faulty lot
				  layout in relation to size, adequacy, accessibility, or usefulness; insanitary
				  or imsafe conditions; deterioration of site or other improvements; diversity of
				  ownership, tax or special assessment delinquency exceeding the fair value of
				  the land; defective or imusual conditions of title; or the existence of
				  conditions which endanger life or property by fire and other causes; or any
				  combination of these factors; substantially impairs or arrests the sound growth
				  of a mimicipality, retards the provision of housing accommodations, or
				  constitutes an economic or social liability and is a menace to the public
				  health, safety, or welfare in its present condition and use. A disaster area
				  referred to in Iowa Code section
				  4035.,
				  subsection 7, constitutes a "blighted area." "Blighted area" does not include
				  real property assessed as agricultural land or property for purposes of
				  property taxation.
"Business closure "
means a business that
				  has completed the formal legal process of dissolution, withdrawal or
				  cancellation with the secretary of state.
"Commission "
or
"enterprise zone
				  commission "
means the enterprise zone commission established by a
				  city or county to review applications for incentives and assistance for
				  businesses located within or requesting to locate within certified enterprise
				  zones over which the enterprise zone commission has jurisdiction under the
				  Act.
"Contractor"
or
"subcontractor"
means a person who contracts with an
				  eligible business or subcontracts with a contractor for the provision of
				  property, materials, or services for the construction or equipping of a
				  facility, located within the economic development zone, of the eligible
				  business.
"Eligible business"
means abusiness which
				  meets the requirements of rule
				  261-595.
				  (15E).
"Enterprise zone "
means a site or sites
				  certified by the department of economic development board for the purpose of
				  attracting private investment within economically distressed Counties. or areas
				  of cities within the state.
"Permanent layoff"
means the loss of jobs to
				  an out-of-state location, the cessation of one or more production lines, the
				  removal of manufacturing machinery and equipment, or similar actions determined
				  to be equivalent in nature by the department. A permanent layoff does not
				  include a layoff of seasonal employees or a layoff that is seasonal in nature.
				  For purposes of these rules, a permanent layoff must occur on or after February
				  1, 2007.
"Project"
means the activity, or set of
				  activities, proposed in the application by the business, which will result in
				  accomplishing the goals of the enterprise zone program, and for which the
				  business requests the benefits of the enterprise zone program.
"Project jobs"
means all of the new jobs to
				  be created by the location or expansion of the business in the enterprise zone
				  that meet the qualifying wage threshold requirements described in 261-Chapter
				  174.
"Tax credit certificate "
means a document
				  issued by the department to an eligible business which indicates the amount of
				  unused investment tax credit that the business is requesting to receive in the
				  form of a refund. A tax credit certificate shall contain the taxpayer's name,
				  address, and tax identification number, the date of project completion, the
				  amount of the tax credit certificate, the tax year for which the credit will be
				  claimed, and any other information required by the department of revenue or the
				  department.
"Transportation enterprise zone "
means a
				  site or sites certified by the Iowa department of economic development board
				  for the purpose of attracting private investment within economically distressed
				  areas of cities within the state which are in close proximity to transportation
				  facilities.
"Value-added agricultural products"
means
				  agricultural products which, through a series of activities or processes, can
				  be sold at a higher price than the original purchase price.