Iowa Administrative Code › Agency 701 - Revenue Department › Title III - Sales, Use, and Excise Tax › Chapter 273 - Reinvestment Districts Program › Rule 701-273.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
"Board"
means the economic development
				  authority board established pursuant to Iowa Code section
				  15.105.
"Commencement date"
means the date
				  established for each district by the board under Iowa Code section
				  15J.4,
				  subsection 3, upon which the calculation of new state sales tax and new state
				  hotel and motel tax revenue for deposit in the fund shall begin.
"Department"
means the department of
				  revenue.
"District"
means the area within a
				  municipality that is designated a reinvestment district pursuant to Iowa Code
				  section
				  15J.4.
"Fund"
means the state reinvestment district
				  fund created in Iowa Code section
				  15J.6.
"Governing body"
means the county board of
				  supervisors, city council, or other body in which the legislative powers of the
				  municipality are vested.
"Municipality"
means a county or an
				  incorporated city.
"New lessor"
means a lessor, as defined in
				  Iowa Code section
				  423A.2, operating a
				  business in the district that was not in operation in the area of the district
				  before the effective date of the ordinance establishing the district,
				  regardless of ownership. "New lessor" also includes any lessor, as defined in
				  Iowa Code section
				  423A.2, operating a
				  business in the district if the place of business for that business is the
				  subject of a project that was approved by the board.
"New retail establishment"
means a business
				  operated in the district by a retailer, as defined in Iowa Code section
				  423.1, that was not
				  in operation in the area of the district before the effective date of the
				  ordinance establishing the district, regardless of ownership. "New retail
				  establishment" also includes any business operated in the district by a
				  retailer, as defined in Iowa Code section
				  423.1, if the place
				  of business for that retail establishment is the subject of a project that was
				  approved by the board.
"Project"
means a vertical improvement
				  constructed or substantially improved within a district using sales tax
				  revenues and hotel and motel tax revenues received by a municipality pursuant
				  to this chapter. "Project" does not include any of the following:
1. A building, structure, or other facility that is in whole
				  or in part used or intended to be used to conduct gambling games under Iowa
				  Code chapter 99F.
2. A building, structure, or other facility that is in whole
				  or in part used or intended to be used as a hotel or motel if such hotel or
				  motel is connected to or operated in conjunction with a building, structure, or
				  other facility described in paragraph "1" above.
"State hotel and motel tax"
means the
				  state-imposed tax under Iowa Code section
				  423A.3.
"State reinvestment district fund"
means the
				  fund created in Iowa Code section
				  15J.6,
				  pursuant to Iowa Code section
				  423.2, subsection 11,
				  paragraph
"b,"
and Iowa Code section
				  423A.6,
				  and described in rule
				  701-237.4 (15J).
"State sales tax"
means the sales and
				  services tax imposed pursuant to Iowa Code section
				  423.2.
"Substantially improved"
means that the cost
				  of the improvements is equal to or exceeds 50 percent of the assessed value of
				  the property, excluding the land, prior to such improvements.
"Vertical improvement"
means a building that
				  is wholly or partially above grade and all appurtenant structures to the
				  building.
This rule is intended to implement Iowa Code section
				  15J.2.