reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 59 - Enterprise Zone (EZ) Program › Rule 261-59.12 - Department Action on Eligible Applications

Current through Register Vol. 47, No. 3, July 24, 2024
The department may approve, deny, or defer applications from
				  qualified businesses. In reviewing applications for incentives and assistance
				  under the Act, the department will consider the following:
(1)
Compliance with the requirements
				of the Act and administrative rules.
Each application will be reviewed
				to determine if it meets the requirements of the Act and these rules. Specific
				criteria to be reviewed include, but are not limited to: medical and dental
				insurance coverage; wage levels; number of jobs to be created; and capital
				investment level.
(2)
Competition.
The department shall consider the impact of the
				eligible business on other businesses in competition with it and compare the
				compensation package of businesses in competition with the business being
				considered for incentives and assistance under this program, to ensure an
				overall economic gain to the state.
(3)
Displacement of workers.
The department will make a good-faith effort to determine the probability that
				the proposed incentives will displace employees of existing businesses. In
				determining the impact on businesses in competition with the business seeking
				incentives or assistance, jobs created as a result of other jobs being
				displaced elsewhere in the state shall not be considered direct jobs
				created.
(4)
Violations of
				law.
The department will review each application to determine if the
				business has a record of violations of law as described in 261-Chapter
				172.
(5)
Commission's
				recommendations and additional criteria.
For each application from a
				business, the department will review the local analysis (including any
				additional local criteria) and recommendation of the enterprise zone commission
				in the zone where the business is located, or plans to locate.
(6)
Other relevant
				information.
The department may also review an application using
				factors it reviews in other department-administered financial assistance
				programs which are intended to assess the quality of the jobs
				pledged.
(7)
'Negotiations.
The department may enter into negotiations
				regarding the amount of tax incentives and assistance the business may be
				eligible to receive. The department reserves the right to negotiate the amount
				of all program benefits except the following benefits: the new jobs
				supplemental credit; the value-added property tax exemption; and the refund of
				sales, service and use taxes paid to contractors and subcontractors. The
				criteria to be used in the negotiations to determine the amount of tax
				incentives and assistance are as described in subrule 59.5(2) and are subject
				to the limitations stated in subrule 59.5(3).
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 59 - Enterprise Zone (EZ) Program › Rule 261-59.15 - Applicability on or After July 1, 2014

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
				Effective as of July 1, 2014, the enterprise zone program was repealed by 2014
				Iowa Acts, House File 2448. No agreements shall be entered into under the
				program on or after July 1, 2014.
(2) To the extent allowed by other provisions
				of law, the rules adopted in this chapter shall continue to apply to agreements
				entered into on or before June 30, 2014.
(3) On or after July 1, 2014, a city or
				county shall not create an enterprise zone under Iowa Code chapter 15E,
				division XVIII, or enter into a new agreement under Iowa Code chapter 15E,
				division XVIII. A city or county and the authority, with the approval of the
				authority board, may amend an agreement for compliance reasons if the amendment
				does not increase the amount of incentives awarded under the
				agreement.
(4) The authority and an
				eligible business may amend an agreement entered into prior to July 1, 2014, in
				order to avoid hardship to an eligible business in the performance or
				maintenance of the agreement but only to the extent that amending the agreement
				would not require amendment by a city or county. The determination as to
				whether a hardship exists shall be within the discretion of the authority. The
				authority shall not amend an agreement in any manner that would increase the
				amount of tax incentives provided under the agreement.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.1 - Purpose and Administrative Procedures

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Purpose.
The department
				of economic development administers the entrepreneurial ventures assistance
				(EVA) program. The purpose of the entrepreneurial ventures assistance program
				is to encourage the development of entrepreneurial venture planning and
				managerial skills in conjunction with the delivery of a financial assistance
				program for business start-ups and expansions.
(2)
Administrative
				procedures.
The EVA program is subject to the requirements of the
				department's rules located in 261-Part VII, additional application requirements
				and procedures, and 261-Part VIII, legal and compliance.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.2 - 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 EVA program:
"Early-stage industry company"
or
"early-stage company"
means a company with three years or
				  less of experience in a particular industry.
"Eligible applicant"
means an individual or
				  business that has consulted with and obtained a letter of enorsement from an
				  IDED-approved business accelerator or from another IDED-recognized
				  entrepreneurial development organization.
"Eligible business "
means a start-up
				  company, an early-stage company, or an existing company that is developing a
				  new product or technology.
"EVA "
means the entrepreneurial ventures
				  assistance program, authorized by Iowa Code sections
				  15338.
				  and 15.339.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.3 - Eligibility Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
(1) In
				order to be eligible for assistance, the business, or proposed business, must
				be located in the state of Iowa.
(2) If the business is a sole proprietorship
				or a partnership, all applicable business owners must apply. If the business is
				a limited liability company, a limited liability partnership, or a corporation,
				the application must be submitted and signed by an individual who has been
				authorized by the business to do so.
(3) In order to be eligible for assistance,
				the business owner or owners (or appropriate individual(s) in a limited
				liability company, limited liability partnership or corporation) must consult
				with and obtain a letter of enorsement from an IDED-approved business
				accelerator or from another recognized entrepreneurial development organization
				such as a John Pappajohn Entrepreneurial Center (JPEC), a Small Business
				Development Center (SBDC), or an equivalent organization recognized by
				IDED.
(4) In order to be eligible
				for assistance, the individual or business must have a business plan which
				details the business's growth strategy, management team (if applicable),
				production/management plan, marketing plan, financial plan, and other standard
				elements of a business plan.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.4 - Financial Assistance

Current through Register Vol. 47, No. 3, July 24, 2024
Applicants may apply to IDED for financial assistance to
				  assist with their business start-up or early-stage growth. The applicant may
				  request up to $250,000 for start-up or early-stage growth activities to be used
				  for business expenses and to leverage conventional financing from commercial
				  lenders or private investors. Assistance will generally be made in staged
				  investments with amounts to be determined by company development, growth, and
				  defined milestones. The assistance under this program is limited to 50 percent
				  or less of the total original capitalization, if a new business, or total
				  project costs, if an existing business. Funds may be used to purchase
				  machinery, equipment, or software, or for working capital needs, or other
				  business expenses deemed reasonable and appropriate by IDED. Awards will be in
				  the form of an equitylike investment (e.g., royalty agreement, deferred loan).
				  A single recipient is limited to $250,000 in total financial
				  assistance.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.5 - Technical Assistance

Current through Register Vol. 47, No. 3, July 24, 2024
Applicants may also apply for assistance in paying for
				  consulting, or technical assistance, either in conjunction with the request for
				  financial assistance, or after a period of time that the business has been in
				  operation. Technical assistance of this nature is limited to no more than
				  $25,000 per applicant.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.6 - Application Process

Current through Register Vol. 47, No. 3, July 24, 2024
Applications must be submitted in the format required by the
				  department. Applications, the business plan, and related material shall be
				  submitted on line or by mail to Entrepreneurial Ventures Assistance Program,
				  Division of Business Development, Business Finance, Iowa Department of Economic
				  Development, 200 East Grand Avenue, Des Moines, Iowa 50309.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.7 - Review Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
				Applications will first be reviewed for completeness. If additional information
				is required, the program staff shall send the applicant notice to submit the
				additional needed information. The applicant shall submit the requested
				information within a reasonable time period in order to ensure further action
				on the request.
(2) The
				applications will then be reviewed for content of the business plan, and an
				evaluation of the business's potential viability and potential for growth. The
				department may consult with the JPEC centers, or other knowledgeable agencies
				or individuals, as a part of the review process.
(3) The following items will be reviewed and
				evaluated:
a.
Type of
				business.
(1) Highest priority will
				be given to businesses in sectors of the Iowa economy with the greatest
				start-up and growth potential for Iowa, including but not limited to:
1. Biotechnology (including drugs and
				pharmaceuticals and value-added agricultural products);
2. Recyclable materials;
3. Software development and computer-related
				products;
4. Advanced
				materials;
5. Advanced
				manufacturing; and
6. Medical and
				surgical instruments.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 60 - Entrepreneurial Ventures Assistance (EVA) Program › Rule 261-60.10 - Applicability of Eva Program After July 1, 2009

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Eflfective July 1, 2009, the EVA program
				is rescinded by 2009 Iowa Acts, Senate File 344, section 9, and replaced with
				the grow Iowa values financial assistance program. Rules for the grow Iowa
				values financial assistance program may be found in 261-Chapter 74.
(2) For awards made prior to July 1, 2009,
				the rules of 261-Chapter 60 shall govern for purposes of contract
				administration and closeout of projects. A contract amendment is not allowable
				if the result of the amendment is to increase the benefits available.
This rule is intended to implement 2009 Iowa Acts, Senate
				  File 344.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
The brownfield redevelopment program is designed to provide
				  financial and technical assistance for the acquisition, remediation, or
				  redevelopment of brownfield sites. The redevelopment tax credits program for
				  brownfields and grayfields is designed to provide financial assistance for the
				  acquisition, remediation, or redevelopment of brownfield and grayfield
				  sites.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.3 - Eligible Applicants

Current through Register Vol. 47, No. 3, July 24, 2024
To be eligible to apply for program assistance, an applicant
				  must meet the following eligibility requirements:
(1)
Site owner.
A person
				owning a site is an eligible applicant if the site for which assistance is
				sought meets the definition of a brownfield or grayfield site. The brownfield
				redevelopment program requires that an applicant has secured a sponsor prior to
				applying for program assistance. Sponsorship is encouraged but not required for
				the redevelopment tax credits program for brownfields and grayfields.
(2)
Nonowner of site.
A
				person who is not an owner of a site is an eligible applicant if the site meets
				the definition of a brownfield or grayfield site. The brownfield redevelopment
				program requires that an applicant has secured a sponsor prior to applying for
				program assistance. Prior to applying for financial assistance under the
				brownfield redevelopment program, an applicant who is not an owner of a site
				shall enter into an agreement with the owner of the brownfield site for which
				financial assistance is sought. The agreement shall at a minimum include:
a. The total cost for remediating the
				site.
b. Agreement that the owner
				shall transfer title of the property to the applicant upon completion of the
				remediation of the property. Title transfer is not required when the applicant
				is the owner of the property and no title transfer occurs.
c. Agreement that upon the subsequent sale of
				the property by the applicant to a person other than the original owner, the
				original owner shall receive not more than 75 percent of the estimated total
				cost of the remediation, acquisition or redevelopment.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.4 - Eligible Forms of Assistance and Limitations

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Financial assistance.
Eligible forms of financial assistance include grants, interest-bearing loans,
				forgivable loans, loan guarantees, tax credits, and other forms of assistance
				under the brownfield redevelopment program and the redevelopment tax credits
				program for brownfields and grayfields established in 2011 Iowa Code Supplement
				sections
				15292.
				and
				15293A..
(2)
Other forms of
				assistance.
The authority may provide information on alternative forms
				of assistance.
(3)
Limitation on amount.
An applicant shall not receive financial
				assistance of more than 25 percent of the agreed-upon estimated total cost of
				remediation, acquisition or redevelopment. This limitation does not apply to
				assistance provided in the form of tax credits pursuant to subrule
				65.11(4).
(4)
Exclusions.
Program funds shall not be used for the
				remediation of contaminants being addressed under Iowa's leaking underground
				storage tank (UST) program. However, a site's being addressed under the UST
				program does not necessarily exclude that site from being addressed under the
				Iowa brownfield redevelopment Act if other nonpetroleum contaminants or
				petroleum substances not addressed under 567-Chapter 135 are present.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.5 - Repayment to Economic Development Authority

Current through Register Vol. 47, No. 3, July 24, 2024
Under the brownfield redevelopment program only, upon the
				  subsequent sale of the property by an applicant to a person other than the
				  original owner, the applicant shall repay the authority for financial
				  assistance received by the applicant. The repayment shall be in an amount equal
				  to the sales price less the amount paid to the original owner pursuant to the
				  agreement between the applicant and the original owner The repayment amount
				  shall not exceed the amount of financial assistance actually disbursed to the
				  applicant by the authority.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.6 - General Procedural Overview

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Subject to
				availability of funds, applications to the brownfield redevelopment program
				will be accepted, reviewed and scored by economic development authority staff
				and by the advisory council on an annual basis. Brownfield redevelopment funds
				will be scored on a competitive basis by the council, which will make
				recommendations on award amounts to the board.
(2) Subject to availability of funds,
				applications to the redevelopment tax credits program for brownfields and
				grayfields will be accepted and reviewed by economic development authority
				staff and scored by the advisory council on an annual basis. For the fiscal
				year beginning July 1, 2014, applications must be received by March 1, 2015.
				For each fiscal year thereafter, applications will be accepted beginning on
				July 1 and must be received by September 1. Subject to the availability of
				funding, the authority may set additional application deadlines after September
				1 and before the end of a fiscal year.
(3) Applications for all forms of financial
				assistance will be reviewed by staff for completeness and eligibility. If
				additional information is required, the applicant shall be provided with
				notice, in writing, to submit additional information. Recommendations from the
				advisory council will be submitted to the board. The board may approve, deny or
				defer an application.
(4)
				Application forms for the brownfield redevelopment program and the
				redevelopment tax credits program for brownfields and grayfields are available
				on the authority's website.
(5) The
				authority may provide technical assistance as necessary to applicants.
				Authority staff may conduct on-site evaluations of proposed
				activities.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.7 - Application to the Brownfield Redevelopment Program-agreements

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Every
				application for assistance shall include evidence of sponsorship and any other
				information the authority deems necessary in order to process and review the
				application. An application shall be considered received by the authority only
				when the authority deems it to be complete. Applications for assistance shall
				also include the following information:
a. A
				business plan. The business plan should, at a minimum, include a remediation
				plan, a project contact/applying agency, a project overview (which would
				include the background of the project area, goals and objectives of the
				project, and implementation strategy), and a project/remediation
				budget.
b. A statement of purpose
				describing the intended use of and proposed repayment schedule for any
				financial assistance received by the applicant.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.9 - Application Review Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
Brownfield redevelopment funds will be awarded on a
				  competitive basis. Applications will be reviewed and prioritized based on the
				  following criteria:
1. Whether the
				project meets the definition of a brownfield site.
2. Whether alternative forms of assistance
				have been explored and used by the applicant.
3. The level of distress or extent of the
				problem on the site has been identified.
4. Whether the site is on or proposed to be
				added to the U.S. Environmental Protection Agency's list of CERCLA
				sites.
5. The degree to which
				awards secured from other sources are committed to the subject site.
6. The leveraging of other public and private
				resources beyond the 75 percent minimum required.
7. Type and terms of assistance
				requested.
8. Rationale that the
				project serves a public purpose.
9.
				The level of economic and physical distress within the project area.
10. Past efforts of the community/owner to
				resolve the problem.
11. Ability of
				the applicant to outline the goals and objectives of the project and describe
				the overall strategy for achieving the goals and objectives.
12. Ancillary off-site development as a
				result of site remediation.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.10 - Administration of Awards

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A
				contract shall be executed between the recipient and the authority. These rules
				and applicable state laws and regulations shall be part of the
				contract.
(2) The recipient must
				execute and return the contract to the authority within 45 days of transmittal
				of the final contract from the authority. Failure to do so may be cause for the
				board to terminate the award.
(3)
				Certain activities may require that permits or clearances be obtained from
				other state or local agencies before the activity may proceed. Awards may be
				conditioned upon the timely completion of these requirements.
(4) Awards may be conditioned upon commitment
				of other sources of funds necessary to complete the activity.
(5) Awards may be conditioned upon the
				authority's receipt and approval of an implementation plan for the funded
				activity.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.11 - Redevelopment Tax Credit

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Purpose.
The purpose of the redevelopment tax credits program
				is to make tax credits available for a redevelopment project investment. The
				authority may cooperate with the department of natural resources and local
				governments in an effort to disseminate information regarding the redevelopment
				tax credit.
(2)
Eligible
				applicant.
An individual, partnership, limited liability company, S
				corporation, estate, or trust electing to have income taxed directly to the
				individual may claim a redevelopment tax credit. Once an applicant is deemed
				eligible, the applicant shall be considered a qualifying investor for a
				redevelopment tax credit. A city or county may not apply for a redevelopment
				tax credit.
(3)
Tax credit
				certificate.
a.
Issuance.
The authority shall issue a redevelopment tax credit
				certificate upon completion of the project and submittal of proof of completion
				by the qualified investor. The tax credit certificate shall contain the
				qualified investor's name, address, and tax identification number; the amount
				of the credit; the name of the qualifying investor; whether the taxpayer has
				satisfied the requirements for the credit to be refundable; any other
				information required by the department of revenue; and a place for the name and
				tax identification number of a transferee and the amount of the tax credit
				being transferred.
b.
Claims.
To claim a tax credit under this rule, a qualified
				investor shall file a claim with the department of revenue pursuant to the
				department's applicable rules. The qualified investor must include one or more
				tax credit certificates with the qualified investor's tax return. A tax credit
				certificate shall not be used or included with a return filed for a taxable
				year beginning prior to the tax year listed on the certificate. The tax credit
				certificate or certificates included with the qualified investor's tax return
				shall be issued in the qualified investor's name, expire on or after the last
				day of the taxable year for which the qualified investor is claiming the tax
				credit, and show a tax credit amount equal to or greater than the tax credit
				claimed on the qualified investor's tax return.
c.
Transfer.
Tax credit
				certificates issued under this rule may be transferred to any person or entity
				pursuant to the department of revenue's applicable rules, except a tax credit
				certificate that is refundable pursuant to Iowa Code section
				15.293A(1)
"c"
(2) as amended by 2022 Iowa Acts, House File
				2317, shall not be transferable.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 65 - Brownfield and Grayfield Redevelopment › Rule 261-65.12 - Review, Approval, and Repayment Requirements of Redevelopment Tax Credit

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A qualified
				investor seeking to claim a tax credit pursuant to 2011 Iowa Code Supplement
				sections
				15293A.
				and
				15293B.
				shall apply to the authority, and applications shall be reviewed by the council
				as established in 2011 Iowa Code Supplement section
				15294..
				The council shall recommend to the board the tax credit amount available for
				each qualifying redevelopment project.
(2) A qualified investor shall provide to the
				authority, the coimcil and the board all of the following:
a. Information showing the total costs of the
				qualifying redevelopment project, including the costs of land acquisition,
				cleanup, and redevelopment.
b.
				Information about the financing sources of the investment which is directly
				related to the qualifying redevelopment project for which the taxpayer is
				seeking approval for a tax credit, as provided in 2011 Iowa Code Supplement
				section
				15293A..
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
The Iowa department of economic development and the
				  department of revenue administer the assistive device tax credit jointly to
				  encourage small businesses to purchase, rent or modify assistive devices and to
				  make workplace modifications for an individual with a disability who is
				  employed or will be employed by the business. The Iowa department of economic
				  development administers the assistive device tax credit certification process.
				  The department of revenue administers the distribution of tax credits to
				  eligible small businesses that have been issued certificates of
				  entitlement.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
For the purpose of these rules, the following definitions
				  apply:
"Assistive device "
means any item, piece of
				  equipment, or product system which is used to increase, maintain, or improve
				  the functional capabilities of an individual with a disability in the workplace
				  or on the job. "Assistive device" does not mean any medical device, surgical
				  device, or organ implanted or transplanted into or attached directly to an
				  individual. "Assistive device" does not include any device for which a
				  certificate of title is issued by the state department of transportation, but
				  does include any item, piece of equipment, or product system otherwise meeting
				  the definition of "assistive device" that is incorporated, attached, or
				  included as a modification in or to such a device issued a certificate of
				  title.
"Department"
or
"IDED"
means
				  the Iowa department of economic development.
"Disability "
means, with respect to an
				  individual, a physical or mental impairment that substantially limits one or
				  more of the major life activities of the individual, a record of physical or
				  mental impairment that substantially limits one or more of the major life
				  activities of the individual, or being regarded as an individual with a
				  physical or mental impairment that substantially limits one or more of the
				  major life activities of the individual. "Disability" does not include any of
				  the following: homosexuality or bisexuality; transvestitism, transsexualism,
				  pedophilia, exhibitionism, voyeurism, gender identity disorders not resulting
				  from physical impairments, or other sexual behavior disorders; compulsive
				  gambling, kleptomania, or pyromania; psychoactive substance abuse disorders
				  resulting from current illegal use of drugs; alcoholism.
"Employee "
or
"employed"
means an individual with a disability and whose business qualifies as a small
				  business.
"Small business "
means a business that
				  either had gross receipts for its preceding tax year of $3 million or less or
				  employed not more than 14 full-time employees during its preceding tax
				  year.
"Workplace modifications"
means physical
				  alterations to the work environment.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.3 - Eligibility Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
In order to be eligible to receive the assistive device tax
				  credit, a small business must:
1. Be
				located in the state of Iowa.
2.
				Employ not more than 14 full-time employees or have gross receipts of no more
				than $3 million during its preceding tax year.
3. Purchase, rent or modify an assistive
				device or make workplace modifications for an individual with a disability who
				is employed or will be employed by the business.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.4 - Application Process

Current through Register Vol. 47, No. 3, July 24, 2024
(1) To receive
				a certificate of entitlement for the assistive device tax credit, the eligible
				small business must submit an application to the Iowa department of economic
				development. Applications and related materials shall be submitted on forms as
				prescribed by the department. Applications for certification must be submitted
				to the Assistive Device Tax Credit Program, Division of Business Development,
				Iowa Department of Economic Development, 200 East Grand Avenue, Des Moines,
				Iowa 50309.
(2) Applicant
				businesses must provide the following information to IDED:
a. Proof of disability status of disabled
				person(s) employed or to be employed by the small business. Proof may take the
				form of written verification from the department of education, division of
				vocational rehabilitation, or the department for the blind, or a completed
				verification of disability/physician's statement.
b. Business tax forms for the previous year
				or personal income tax forms if business tax forms are not available.
c. Written documentation verifying the
				existence, organizational structure, and good standing of the business. The
				IDED assistive device tax credit small business documentation list describes
				acceptable forms of proof.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.5 - Review, Decision and Award Process

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Review.
Applications will first be reviewed for completeness.
				If additional information is required, the program staff shall send the
				applicant notice to submit the additional needed information. The applicant
				shall submit the requested information within a reasonable time period in order
				to ensure further actions on the request. The applications will then be
				reviewed for content. The following items will be reviewed and evaluated:
a. Eligibility of the small
				business.
b. Nature, scope, purpose
				and cost of the assistive device or workplace modification and the manner in
				which it enables the employer to hire or retain the employee or prospective
				employee, or accommodate the disability of the employee or prospective
				employee.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.6 - Certification

Current through Register Vol. 47, No. 3, July 24, 2024
The certificate of entitlement shall be numbered and shall
				  contain the taxpayer's name, address, tax identification number, the amount of
				  credit, and tax year for which the certificate is claimed.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.7 - Monitoring and Misuse of Funds

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Monitoring.
IDED reserves the right to monitor the recipient's
				records to ensure compliance with all program requirements. IDED staff will
				contact the recipient to arrange such visits at a mutually agreeable
				time.
(2)
Misuse of
				funds.
Any person receiving tax credits under the assistive device tax
				credit program is subject to criminal penalties under Iowa Code section
				15A3.
				if it is determined that the person knowingly made false statements to procure
				tax credits from the state or if it is determined that funds were used for
				purposes other than those stated in the application.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 66 - Assistive Device Tax Credit › Rule 261-66.8 - Tax Credit

Current through Register Vol. 47, No. 3, July 24, 2024
(1) In a single
				tax year, a small business is eligible to receive a tax credit equal to 50
				percent of the total cost to purchase, rent or modify an assistive device(s) or
				make workplace modifications. The tax credit shall not exceed $2,500.
(2) The taxpayer must file the certificate of
				entitlement with the taxpayer's income tax return in order to claim the tax
				credit.
(3) The tax year for which
				the assistive device tax credit may be allowed shall be determined by the date
				of project completion.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 67 - Major Economic Growth Attraction (MEGA) Program › Rule 261-67.2 - Eligibility Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Project requirements.
The business' proposed project site and
				qualifying investment in the project must meet the requirements of Iowa Code
				section 15.492(1)
"a"
and
"b"
as enacted by
				2024 Iowa Acts, Senate File 574, section 4. The authority will not accept an
				application from a business that proposes a project at a location that is not a
				certified site or that the business does not currently have a controlling
				interest in at the time of application. The authority may accept an application
				from a business that proposes a project on a certified site that is not
				currently greater than 250 acres if the process to certify additional acres has
				been initiated and the certified site will exceed 250 acres following
				certification of the additional acres. The authority will determine whether a
				site is suitable for a project based on the following factors:
a. Community approval of the project as
				required by subrule 67.2(2).
b. The
				impact of the project on surrounding businesses and residents.
c. The availability of or proposed plans to
				develop the necessary infrastructure to support the project.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 67 - Major Economic Growth Attraction (MEGA) Program › Rule 261-67.3 - Application Process and Review

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Application.
a. Businesses
				may be invited to submit applications for the program to the authority.
				Businesses shall utilize a standardized application developed by the authority.
				A signature from an official authorized to represent the affected local
				community is required to indicate that the community supports the project. The
				application shall include an ordinance or resolution of the community's
				governing body approving the project.
b. An applicant shall provide any information
				requested by a contractor selected by the authority to evaluate the economic
				impact of the project pursuant to subrule 67.2(10). Such information will be
				held confidential by the authority to the extent allowed by Iowa Code sections
				15.118 and 22.7 or other applicable
				laws.
c. During the application
				process, the authority will identify any assistance previously awarded for
				which an applicant would no longer be eligible pursuant to Iowa Code section
				15.499(1)  as
				enacted by 2024 Iowa Acts, Senate File 574, section 11. The authority may also
				identify assistance the applicant may be prohibited from receiving in the
				future pursuant to Iowa Code section
				15.499(1)  as
				enacted by 2024 Iowa Acts, Senate File 574, section 11, during the application
				process or may identify such prohibition at a later time.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 67 - Major Economic Growth Attraction (MEGA) Program › Rule 261-67.4 - Tax Incentives

Current through Register Vol. 47, No. 3, July 24, 2024
The authority may approve a business to receive any
				  combination of applicable tax incentives allowed through the program pursuant
				  to Iowa Code section 15.495,
				  15.496, or
				  15.497 as enacted by 2024 Iowa
				  Acts, Senate File 574. An approved business shall not claim a tax incentive in
				  excess of the amount specified in an agreement entered into pursuant to Iowa
				  Code section 15.494 as enacted by 2024 Iowa
				  Acts, Senate File 574, section 6. No tax incentive may be utilized by an
				  approved business until all conditions of such tax incentive established by the
				  authority or the department of revenue have been satisfied.
(1)
Property tax exemption.
If a community approves an exemption from taxation pursuant to Iowa Code
				section 15.500 as enacted by 2024 Iowa
				Acts, Senate File 574, section 12, the community shall provide the authority
				and the local assessor with a copy of the resolution adopted by the community's
				governing body that indicates the estimated value and duration of the
				authorized exemption.
(2)
Investment tax credit.
An approved business shall provide
				adequate documentation to the authority to document that the conditions for
				issuance of a tax credit certificate in Iowa Code section
				15.496 as enacted by 2024 Iowa
				Acts, Senate File 574, section 8, have been satisfied.
(3)
Maximum tax incentives
				available.
The maximum amount of tax incentives for a business's
				project will be established based on the factors identified in subrule
				67.3(6).
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 67 - Major Economic Growth Attraction (MEGA) Program › Rule 261-67.5 - Acquisition of Agricultural Land by Foreign Businesses

Current through Register Vol. 47, No. 3, July 24, 2024
The authority may authorize an exemption to restrictions on
				  agricultural land holdings pursuant to Iowa Code sections
				  9I.3(3)
"f"
and 15.498 as enacted by 2024 Iowa Acts, Senate File 574.
				  Whether to approve or deny a request for an exemption is solely within the
				  board's discretion.
(1) To be
				considered for an exemption, an applicant shall provide detailed documentation
				of ownership and affiliated businesses; evidence of compliance with Iowa Code
				chapter 9I as amended by 2024 Iowa Acts, Senate File 2204; and any other
				information requested by the authority to document the business's eligibility
				for the exemption to the authority's satisfaction. An applicant must
				demonstrate that the number of acres for which an exemption is requested is
				necessary for the completion of the business's project. The number of acres for
				which an exemption is approved is subject to negotiation.
(2) A request for an extension authorized
				pursuant to Iowa Code section
				15.498(2)
"b"
as enacted by 2024 Iowa Acts, Senate File 574, section 10,
				must be made in writing and received by the authority at least 60 days prior to
				expiration of the applicable deadline imposed by Iowa Code section
				9I.4 or as previously extended
				by the authority. The request shall include steps taken by the recipient to
				convert the land to a purpose other than farming, the estimated date by which
				the required conversion is expected to occur, and any other information
				required by the authority to determine whether an extension is warranted.
				Whether to approve or deny a request for an extension is solely within the
				board's discretion.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 67 - Major Economic Growth Attraction (MEGA) Program › Rule 261-67.7 - Job Counting

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Overview.
The authority will count created jobs using a base
				employment analysis comparing the base employment level to employment at
				another date. The business's base employment level will be established at the
				time of application for the program. The number of qualified jobs the business
				has pledged to create shall be in addition to the base employment
				level.
(2)
Base employment
				level.
a. Base employment level will
				include the number of full-time equivalent positions employed at the project
				location. If the project occurs at more than one physical location, the
				business's base employment level will include the total number of full-time
				equivalent positions working at the identified locations. Base employment level
				may include the business's full-time equivalent positions as identified by the
				authority who are employed in this state but are not employed at the project
				location.
b. The authority will
				collect payroll documents to calculate and verify base employment level used in
				each award. Payroll documents must include a name or employee identification
				number and the hourly rate of pay for all full-time equivalent
				positions.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 67 - Major Economic Growth Attraction (MEGA) Program › Rule 261-67.8 - Authority Procedure for Establishing Wage Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
Created jobs shall meet the qualifying wage threshold
				  requirements as established pursuant to this rule and as indicated in an
				  agreement entered into pursuant to Iowa Code section
				  15.494 as enacted by 2024 Iowa
				  Acts, Senate File 574, section 6. Jobs that do not meet the qualifying wage
				  threshold requirements will not be counted toward a business's job
				  obligations.
(1) For the purposes of
				establishing qualifying wage threshold as defined in Iowa Code section 15.491
				as enacted by 2024 Iowa Acts, Senate File 574, section 3, "laborshed area"
				means the geographic area surrounding an employment center from which the
				employment center draws its commuting workers as defined by the department of
				workforce development.
(2) The
				authority will update the qualifying wage thresholds annually each fiscal year.
				The thresholds will take effect on September 1 of each fiscal year and remain
				in effect until August 31 of the following fiscal year. If the authority
				determines that the laborshed wage of a laborshed area would increase by more
				than one dollar per hour, the authority will limit the increase to the
				qualifying wage threshold for that laborshed area for that annual update to one
				dollar per hour.
(3) The authority
				will calculate the laborshed wage as follows:
a. The most current covered wage and
				employment data available from the department of workforce development will be
				used.
b. The wage will be computed
				as a mean wage figure and represented in terms of an hourly wage
				rate.
c. Only the wages paid by
				employers for jobs performed within the first two zones of a laborshed area
				will be included.
d. The wages paid
				by employers in the following categories will be excluded from the calculation:
				government, retail trade, health care and social assistance, and accommodations
				and food service. The wages paid by employers in all other categories will be
				included in the calculation.
e. To
				the extent that a laborshed area includes zip codes from states other than
				Iowa, the wages paid by employers in those zip codes may be included if the
				department of workforce development has finalized a data-sharing agreement with
				the state in question and has received the necessary data.
f. Only those wages within two standard
				deviations from the mean wage will be included.