reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 42 - Iowa Tourism Grant Program › Rule 261-42.6 - Expenses, Records, and Reimbursements

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
General.
Each grantee
				shall at all times incur expenses and be reimbursed for such expenses by the
				authority only as described in this chapter or in a contract executed
				hereunder. The authority may deny reimbursement for any expenditure not
				directly related to the implementation of a tourism-related marketing
				initiative, meeting, or event.
(2)
Eligible expenses.
Only expenditures directly related to the
				implementation of a tourism-related marketing initiative, meeting, or event
				will be reimbursed under the program. Examples of eligible expenses include the
				following:
a. The costs associated with all
				phases of the execution of marketing tactics and strategies, including planning
				and design and production of tools such as advertising, print materials,
				digital tools and exhibits for consumer-focused tradeshow.
b. The costs associated with acquiring a
				regional or national tourism-related meeting, including but not limited to bid
				fees, rights fees, sponsorships, payments to vendors, venue rental, and
				equipment rental.
c. The costs
				associated with executing a local event or festival, including but not limited
				to payments to vendors, payments to speakers or entertainers, venue rental, and
				equipment rental for new events or existing events in Iowa in order to augment
				the event.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 43 - Hoover Presidential Library Tax Credit › Rule 261-43.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
The purpose of the Hoover presidential library tax credit is
				  to encourage donations to the Hoover presidential foundation for the Hoover
				  presidential library and museum renovation project.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 43 - Hoover Presidential Library Tax Credit › Rule 261-43.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
"Authority"
means the economic development
				  authority created in Iowa Code section
				  15.105.
"Department"
means the Iowa department of
				  revenue.
"Donor"
means a person who makes an
				  unconditional charitable donation to the Hoover presidential foundation for the
				  Hoover presidential library and museum renovation project fund.
"Tax credit"
means the amount a taxpayer may
				  claim against the taxes imposed in Iowa Code chapter 422, subchapters II, III,
				  and V, and in Iowa Code chapter 432, and against the moneys and credits tax
				  imposed in Iowa Code section
				  533.329.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 43 - Hoover Presidential Library Tax Credit › Rule 261-43.3 - Authorization of Tax Credits

Current through Register Vol. 47, No. 3, July 24, 2024
(1) For tax years
				beginning on or after January 1, 2021, but before January 1, 2025, a tax credit
				shall be allowed against the taxes imposed in Iowa Code chapter 422,
				subchapters II, III, and V, and in Iowa Code chapter 432, and against the
				moneys and credits tax imposed in Iowa Code section
				533.329, equal to 25 percent of
				a donor's charitable donation made on or after July 1, 2021, to the Hoover
				presidential foundation for the Hoover presidential library and museum
				renovation project fund.
(2) A
				donor shall not claim a tax credit for a donation made during a tax year
				beginning before January 1, 2021, or after December 31, 2024.
(3) To receive the tax credit, a donor shall
				file a claim with the department in accordance with any applicable
				administrative rules adopted by the department.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 43 - Hoover Presidential Library Tax Credit › Rule 261-43.4 - Tax Credit Limitations

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The
				aggregate amount of tax credits authorized for the program shall not exceed a
				total of $5 million.
(2) The
				maximum amount of tax credits granted to any one person shall not exceed
				$250,000.
(3) Ten percent of the
				aggregate amount of tax credits authorized, or $500,000, shall be reserved for
				those donations in amounts of $30,000 or less. If any portion of the reserved
				tax credits has not been distributed by September 1, 2023, the remaining
				reserved tax credits shall be available after September 1, 2023, to any other
				eligible person.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 43 - Hoover Presidential Library Tax Credit › Rule 261-43.5 - Distribution Process and Review Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The authority shall develop and make
				available a standardized application pertaining to the authorization and
				distribution of tax credits. The application shall request information to
				document that a qualified donation has been made, and any other information
				required by the authority. Qualifying donors shall be issued a tax credit
				certificate to be included with the donor's Iowa tax return.
(2) Applications will be accepted and awarded
				on an ongoing basis.
(3) If, before
				September 1, 2023, the authority receives tax credit applications in excess of
				$4.5 million for donations greater than $30,000, the authority shall establish
				a waitlist to receive any portion of the reserved tax credits that are not
				distributed by September 1, 2023. Applications on the waitlist shall be
				prioritized by the date the authority received the applications. If any portion
				of the reserved tax credits under subrule 43.4(3) becomes available after
				September 1, 2023, the authority shall approve the waitlisted applications and
				issue tax credit certificates in the order they are listed on the waitlist, up
				to the amount of the remaining reserved tax credits. Placement on a waitlist
				does not constitute a promise binding the state that persons placed on the
				waitlist will actually receive a tax credit in a future year. The availability
				of a tax credit and approval of a tax credit application in a future year is
				contingent upon the availability of tax credits in that particular
				year.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
The terms used in this chapter shall be defined as
				  follows:
"Act"
means Iowa Code section
				  28H1.
				  as amended by 2007 Iowa Acts, Senate File 444.
"Applicant"
means any entity organized as a
				  metropolitan, regional, areawide planning commission, or as a coimcil of
				  government and which applies for assistance under this chapter
"COG"
means a coimcil of government.
"Community development"
means any activity
				  that supports one or more of the following: housing, transportation, education,
				  infrastructure, recreation, economic development, health care, child care,
				  environmental concerns, commimications, natural and human resources, and
				  training.
"Department"
means the Iowa department of
				  economic development.
"Grantee "
means an applicant which receives
				  funding under this chapter
"Local government"
means a city or county in
				  Iowa.
"Political subdivision "
means an Iowa city
				  or county.
"Service delivery area "
means the
				  geographic area served by the applicant.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.3 - Eligibility

Current through Register Vol. 47, No. 3, July 24, 2024
Iowa entities authorized as a council of government by
				  Executive Order Number 11, 1969, by a chapter 28E agreement, or by Iowa Code
				  section
				  28H1.
				  as amended by 2007 Iowa Acts, Senate File 444, are eligible to receive
				  assistance through this chapter.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.4 - Eligible Activities

Current through Register Vol. 47, No. 3, July 24, 2024
Applicants may apply for grant funds to fund any one or more
				  of the following community development activities: community planning, grant
				  writing, coordination, shared staffing and materials, consultation services,
				  staffing, capacity building, training, and provision of technical
				  assistance.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.5 - Application Procedure

Current through Register Vol. 47, No. 3, July 24, 2024
All eligible applicants will be provided with written
				  notification when funds become available. In order to receive a grant the
				  applicant must submit the following information to the Department of Economic
				  Development, Division for Community Progress, 200 East Grand Avenue, Des
				  Moines, Iowa 50309:
(1) A description
				of the service delivery area that will be served with the grant funds. In no
				case shall the funds be utilized to provide assistance outside the borders of
				the state of Iowa.
(2) A work plan
				outlining the specific community development technical assistance activities to
				be undertaken with the COG assistance funding provided under this chapter and
				the time frame for this assistance.
(3) A budget which details how the grant
				funds will be expended to accomplish the work plan outlined in
				44.5(2).
(4) A narrative describing
				how the applicant may assist its service delivery area's regional coordinating
				coimcil(s) in the implementation of its regional economic development
				coordination plan(s).
(5) A
				narrative which specifies how the activities outlined by the work plan required
				in 44.5(2) complement the regional economic development coordination plan(s) of
				the regional coordinating council(s) in its service delivery area.
(6) An explanation of how the work plan
				submitted under 44.5(2) supports the overall annual work plan developed by the
				applicant.
(7) A narrative which
				describes how the applicant may work with its service delivery area's regional
				coordinating council(s) to coordinate delivery of services and to further
				delineate the roles of each entity.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.6 - Grant Awards

Current through Register Vol. 47, No. 3, July 24, 2024
Grant awards will be made on a noncompetitive basis with each
				  eligible applicant receiving an equal share of the funds available for the
				  purpose of this chapter. One-seventeenth of the total funds allocated by the
				  legislature for COG assistance shall be awarded to each COG.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.7 - Funding

Current through Register Vol. 47, No. 3, July 24, 2024
The department will execute a contract with the grantee for
				  the provision of grant funds to undertake the work plan and budget submitted in
				  accordance with 44.5(28H). The funding of an application under these rules is
				  contingent upon the availability of funds appropriated for this purpose.
The department will allocate grant funds on a quarterly basis
				  subject to the receipt of a quarterly requisition for payment from each
				  grantee. The amount to be allocated each quarter is dependent upon the budget
				  and work plan as outlined in 44.5(28H).
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.8 - Financial Management Standards

Current through Register Vol. 47, No. 3, July 24, 2024
All contracts executed under these rules are subject to
				  audit. The grantee shall be responsible for the procurement of audit services
				  and for payment of audit costs. Audits may be performed by the state auditor's
				  office or by a qualified independent auditor The grantee shall comply with the
				  Single Audit Act of 1984, P.L. 98-502, or with other applicable laws and
				  regulations, as appropriate, in preparing the audit. Copies of the audit report
				  shall be transmitted to the department within 30 days of its
				  completion.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.9 - Record Keeping and Retention

Current through Register Vol. 47, No. 3, July 24, 2024
Financial records, supporting documents, statistical records,
				  and all other records pertinent to the grant shall be retained by the recipient
				  for three years beyond the submission of the final invoice, or longer if any
				  litigation or audit is begun or if a claim is initiated involving the grant
				  covered by the records. In these instances, the records shall be retained until
				  the litigation, audit or claim has been resolved.
Representatives of the department and the state auditor's
				  office shall have access to all books, accounts, documents, records, and other
				  property belonging to or in use by the recipient pertaining to the receipt of
				  assistance under these rules.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.10 - Progress Reports

Current through Register Vol. 47, No. 3, July 24, 2024
Each grantee shall submit quarterly progress reports which
				  outline its progress in the activities outlined by its application work plan.
				  The progress report is due 30 days following the end of each calendar
				  quarter.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 44 - Cog Assistance › Rule 261-44.11 - Noncompliance

Current through Register Vol. 47, No. 3, July 24, 2024
If the department finds that the grantee is not in compliance
				  with the requirements of these rules or grant agreement, the grantee may be
				  required to refund to the state all disallowed costs. Reasons for a finding of
				  noncompliance include, but are not limited to, a finding that the grant funds
				  were used for imauthorized activities, the grantee has failed to complete
				  approved activities in a timely manner, the grantee has failed to comply with
				  applicable laws and regulations of the grant agreement, or the grantee lacks
				  the capacity to carry out the purposes of the program.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 45 - Community Catalyst Building Remediation Program › Rule 261-45.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
Pursuant to Iowa Code sections
				  15231.
				  and
				  15106A.,
				  the authority is directed to establish a community catalyst building
				  remediation program fund for the purpose of providing grants to cities for the
				  remediation or redevelopment of underutilized buildings. The authority shall
				  administer the fund in a manner to make grant moneys annually available to
				  cities for the purposes of this chapter.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 45 - Community Catalyst Building Remediation Program › Rule 261-45.3 - Program Description

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Amount, form, and timing of assistance.
a. The program provides financial assistance
				to cities for the redevelopment or remediation of underutilized buildings. The
				amount of assistance awarded will be determined by the authority based on the
				total amount of funds available to the authority for the program and based on
				the project details. Each applicant shall receive no more than one grant per
				project per fiscal year. The maximum grant amount per applicant per fiscal year
				shall not exceed $100,000. If an applicant received a technical assistance
				grant under paragraph 45.3(2)
"b,"
the amount of the financial
				assistance for redevelopment or remediation plus the amount of the technical
				assistance grant shall not exceed the maximum grant amount of
				$100,000.
b. In providing grants
				under this chapter, the authority shall allocate 40 percent of the moneys
				available at the beginning of each fiscal year to funding grants to cities with
				populations of less than 1,500 as shown by the most recent federal census. If
				at the end of each application period the amount of grants awarded to cities
				with a population of less than 1,500 is less than the amount allocated to such
				grants under this rule, the balance may be awarded to any approved applicant,
				regardless of city population.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 45 - Community Catalyst Building Remediation Program › Rule 261-45.4 - Program Eligibility, Application Scoring, and Funding Decisions

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Program
				eligibility.
An applicant must meet the following eligibility criteria
				to qualify for financial assistance under this program:
a. The applicant must be a city. If the
				project building or buildings are owned by an entity other than the city, the
				city must provide information to the authority regarding ownership and the
				relationship between the owner and the city.
b. The building or buildings that constitute
				the project must meet the definition of "underutilized building" as determined
				by the authority.
c. The building
				or buildings that constitute the project must meet the definition of "community
				catalyst." The authority shall determine whether the building or buildings meet
				the definition of "community catalyst" set out in rule 261-45.2 (15).
d. The project must include financial or
				in-kind resources contributed by the city.
e. The applicant must complete the
				application and provide all other information and documents reasonably required
				by the authority.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 45 - Community Catalyst Building Remediation Program › Rule 261-45.5 - Agreement Required

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Each
				applicant that is approved for financial assistance under the program shall
				enter into an agreement with the authority for the provision of such financial
				assistance. The agreement will establish the terms on which the financial
				assistance is to be provided and may include any other terms reasonably
				necessary for the efficient administration of the program.
(2) The authority and the applicant may amend
				the agreement at any time upon the mutual agreement of both the authority and
				the applicant.
(3) The agreement
				may require an applicant that has been approved for financial assistance under
				the program to submit information reasonably required by the authority to make
				reports to the authority's board, the governor's office, or the general
				assembly.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 47 - Endow Iowa Tax Credits › Rule 261-47.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
The purpose of endow Iowa tax credits is to encourage
				  individuals, businesses, and organizations to invest in community foundations
				  and to enhance the quality of life for citizens of this state through increased
				  philanthropic activity.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 47 - Endow Iowa Tax Credits › Rule 261-47.2 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
"Authority"
means the economic development
				  authority.
"Community affiliate organization"
means a
				  group of five or more community leaders or advocates organized for the purpose
				  of increasing philanthropic activity in an identified community or geographic
				  area in the state with the intention of establishing a community affiliate
				  endowment fund.
"Endow Iowa qualified community foundation"
means a community foundation organized or operating in this state that
				  substantially complies with the national standards for U.S. community
				  foundations established by the National Council on Foundations as determined by
				  the authority in collaboration with the Iowa Council of Foundations.
"Endowment gift"
means an irrevocable
				  contribution to a permanent endowment held by an endow Iowa qualified community
				  foundation.
"Permanent endowment fund"
means a fund held
				  in an endow Iowa qualifying community foundation to provide benefit to
				  charitable causes in the state of Iowa. Endowed funds are intended to exist in
				  perpetuity, and to implement an annual spend rate not to exceed 5
				  percent.
"Tax credit"
means the amount a taxpayer may
				  claim against the taxes imposed in Iowa Code chapter 422, subchapters II, III,
				  and V, and in Iowa Code chapter 432, and against the moneys and credits tax
				  imposed in Iowa Code section
				  533.329.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 47 - Endow Iowa Tax Credits › Rule 261-47.3 - Authorization of Tax Credits to Taxpayers

Current through Register Vol. 47, No. 3, July 24, 2024
The authority shall authorize tax credits to qualified
				  taxpayers who provide an endowment gift to an endow Iowa qualified community
				  foundation or a community affiliate organization affiliated with an endow Iowa
				  qualified community foundation for a permanent endowment fund within the state
				  of Iowa in accordance with the following provisions:
(1) Approved tax credits shall be allowed
				against taxes imposed in Iowa Code chapter 422, subchapters II, III, and V, and
				in Iowa Code chapter 432, and against the moneys and credits tax imposed in
				Iowa Code section 533.329.
(2) Tax credits will be equal to 25 percent
				of a taxpayer's gift to a permanent endowment held in an endow Iowa qualified
				community foundation. The amount of the endowment gift for which the endow Iowa
				tax credit is claimed shall not be deductible in determining taxable income for
				state income tax purposes.
(3) If
				the authority receives applications for tax credits in excess of the amount
				available, the applications shall be prioritized by the date the authority
				received the applications. Applications received on or before June 30, 2023,
				will be placed on a waitlist for a subsequent year's allocation of tax credits
				if the number of applications exceeds the amount of annual tax credits
				available. Applications placed on the waitlist shall first be funded in the
				order listed on the waitlist. Applications received on or after July 1, 2023,
				in excess of the amount of tax credits available will not be placed on the
				waitlist and will be denied by the authority. For endowment gifts made on or
				after June 30, 2023, a taxpayer shall submit an application to the authority
				for the tax credit no later than 12 months from the date of the donation which
				qualifies the taxpayer for the tax credit.
(4) To receive the tax credit, a donor shall
				file a claim with the department of revenue in accordance with any applicable
				administrative rules adopted by the department.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 47 - Endow Iowa Tax Credits › Rule 261-47.4 - Distribution Process and Review Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
The authority shall develop and make available a standardized
				  application pertaining to the allocation of endow Iowa tax credits.
(1) Twenty-five percent of the annual amount
				available for tax credits shall be reserved for those permanent endowment gifts
				made to community affiliate organizations. If by September 1 of any year the
				entire 25 percent reserved for permanent endowment gifts corresponding to
				community affiliate organizations is not allocated, the amount remaining shall
				be available for other applicants.
(2) Ten percent of the annual amount
				available for tax credits shall be reserved for those permanent endowment gifts
				totaling $30,000 or less. If by September 1 of any year the entire 10 percent
				reserved for permanent endowment gifts totaling $30,000 or less is not
				allocated, the amount remaining shall be available for other
				applicants.
(3) Applications will
				be accepted and awarded on an ongoing basis. The authority will make public by
				June 1 and December 1 of each calendar year the total number of requests for
				tax credits and the total amount of requested tax credits that have been
				submitted and awarded.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.1 - Authority and Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
The workforce housing tax incentives program is administered
				  pursuant to Iowa Code sections
				  15.351 through
				  15.356 and 2022 Iowa Acts,
				  Senate File 2325, sections 7 through 13. The purpose of the program is to
				  assist the development of workforce housing in Iowa communities by providing
				  incentives for housing projects that are targeted at middle-income households
				  and that focus on the redevelopment or repurposing of existing
				  structures.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.3 - Small Cities

Current through Register Vol. 47, No. 3, July 24, 2024
For the purposes of this chapter, the following subrules will
				  determine which cities and townships will be considered small cities.
(1) For projects that received a refund
				notice or tax credit certificate on or before June 30, 2021, a small city is
				any city or township located in this state, except those located wholly within
				one or more of the 11 most populous counties in the state, as determined by the
				most recent population estimates issued by the United States Bureau of the
				Census.
(2) For projects that
				received a refund notice or tax credit certificate on or after July 1, 2021, a
				small city is any city or township located in this state, except those located
				wholly within one or more of the 11 most populous counties in the state, as
				determined by either the most recent population estimate produced by the United
				States Bureau of the Census or the most recent decennial census released by the
				United States Bureau of the Census.
(3) On or after July 1, 2021, any city or
				township located wholly within one or more of the 11 most populous counties in
				the state, as determined pursuant to subrule 48.3(2), may be considered a small
				city if the city meets all of the following requirements:
a. The city or township has a population less
				than or equal to 2,500 as determined by either the most recent population
				estimate produced by the United States Bureau of the Census or the most recent
				decennial census released by the United States Bureau of the Census.
b. The city or township had population growth
				of less than 30 percent as calculated by comparing the population in the most
				recent decennial census released by the United States Bureau of the Census to
				the population in the decennial census released ten years prior.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.4 - Housing Project Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Eligible project types.
a.
				To receive workforce housing tax incentives pursuant to the program, a proposed
				housing project shall meet all of the requirements of Iowa Code section
				15.353. Projects located in a
				100-year floodplain are not eligible.
b. The authority will determine whether a
				dwelling unit should be classified as a single-family dwelling unit for the
				purposes of this subrule. The authority may consider factors such as:
(1) Whether a unit is separated from other
				units by a ground-to-roof wall;
(2)
				Whether the unit has a separate heating system;
(3) Whether the unit has an individual meter
				for public utilities; and
(4)
				Whether the unit has other units above or below.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.5 - Housing Project Application and Agreement

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Application.
a. A housing
				business seeking workforce housing tax incentives provided in rule
				261-48.6 (15) shall make
				application to the authority in the manner prescribed in this rule.
b. The application required in paragraph
				48.5(1)
"a"
shall include all of the following:
(1) The following information establishing
				local participation for the housing project:
1. A resolution in support of the housing
				project by the community where the housing project will be located.
2. Documentation of local matching funds
				pledged for the housing project in an amount equal to at least $1,000 per
				dwelling unit, including but not limited to a funding agreement between the
				housing business and the community where the housing project will be located.
				For purposes of this paragraph, local matching funds shall be in the form of
				cash or cash equivalents or in the form of a local property tax exemption,
				rebate, refund, or reimbursement.
(2) A report that meets the requirements and
				conditions of Iowa Code section
				15.330(9)
				 if required.
(3) Information showing the total costs and
				funding sources of the housing project sufficient to allow the authority to
				adequately determine the financing that will be utilized for the housing
				project, the actual cost of the dwelling units, and the amount of qualifying
				new investment.
(4) Any other
				information deemed necessary by the authority to evaluate the eligibility and
				financial need of the housing project under the program.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.6 - Workforce Housing Tax Incentives

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Eligibility.
A housing
				business that has entered into an agreement pursuant to rule
				261-48.5 (15) is eligible to
				receive the tax incentives described in subrules 48.6(2) and 48.6(3).
(2)
Sales tax refunds.
A
				housing business may claim a refund of the sales and use taxes paid under Iowa
				Code chapter 423 that are directly related to a housing project and specified
				in the agreement. The refund available pursuant to this subrule shall be as
				provided in Iowa Code section
				15.331A
				to the extent applicable for purposes of this program.
(3)
Income tax credits.
a. A housing business may claim a tax credit
				in an amount not to exceed the following:
(1)
				For a housing project not located in a small city, 10 percent of the qualifying
				new investment of a housing project specified in the agreement.
(2) For a housing project located in a small
				city, 20 percent of the qualifying new investment of a housing project
				specified in the agreement.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.7 - Annual Program Funding Allocation, Reallocation, and Management of Excess Demand

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Each year
				the authority will allocate to the program a portion of the maximum aggregate
				tax credit cap described in Iowa Code section
				15.119.
(2) If, during a fiscal year, the authority
				determines that program demand is less than the amount initially allocated, the
				authority may reallocate unused amounts to other programs under Iowa Code
				section
				15.119.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.8 - Application Submittal and Review Process

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The authority will develop a standardized
				application and make the application available to eligible housing businesses
				and to communities. To apply for assistance under the program, an interested
				person shall submit an application to the authority. Applications must be
				submitted online at
www.iowagrants.gov
.
				Instructions for application submission may be obtained at
www.iowagrants.gov
or by contacting the
				Community Development Division, Economic Development Authority, 1963 Bell
				Avenue, Suite 200, Des Moines, Iowa 50315.
(2) The authority has final decision-making
				authority on requests for financial assistance for this program. Applications
				will be reviewed and scored by the staff of the authority. The director or the
				director's designee will make final funding decisions after considering the
				recommendations of staff. The director may approve, defer or deny an
				application.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.9 - Housing Project Minimum Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
To receive disaster recovery housing tax incentives pursuant
				  to the program, a proposed disaster recovery housing project shall meet all of
				  the following requirements:
(1) The
				project includes at least one of the following:
a. Four or more single-family dwelling units,
				except for a project located in a small city, then two or more single-family
				dwelling units.
b. One or more
				multiple dwelling unit buildings each containing three or more individual
				dwelling units.
c. Two or more
				dwelling units located in the upper story of an existing multi-use
				building.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.10 - Housing Project Application and Agreement

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Application.
a. A housing
				business seeking disaster recovery housing tax incentives pursuant to rule
				261-48.11 (15) shall make
				application to the authority in the manner prescribed in this rule. The
				authority may establish a disaster recovery application period following the
				declaration of a major disaster by the President of the United States for a
				county in Iowa. The authority will acknowledge receipt of the application and
				review applications in a timely manner. The authority will notify applicants in
				writing of a tax incentive award for a disaster recovery housing
				project.
b. The application for
				disaster recovery housing tax incentives described in paragraph
				48.10(1)
"a"
shall include all of the following:
(1) The following information establishing
				local participation for the housing project:
1. A resolution in support of the housing
				project by the community where the housing project will be located.
2. Documentation of local matching funds
				pledged for the housing project in an amount equal to at least $1,000 per
				dwelling unit, including but not limited to a funding agreement between the
				housing business and the community where the housing project will be located.
				For purposes of this paragraph, local matching funds shall be in the form of
				cash or cash equivalents or in the form of a local property tax exemption,
				rebate, refund, or reimbursement.
(2) A report that meets the requirements and
				conditions of Iowa Code section
				15.330(9).
(3) Information showing the total costs and
				funding sources of the housing project sufficient to allow the authority to
				adequately determine the financing that will be utilized for the housing
				project, the actual cost of the dwelling units, and the amount of qualifying
				new investment.
(4) A certification
				that the applicant's housing project is located in a county that has been
				declared a major disaster by the President of the United States on or after
				March 12, 2019, and is also located in a county in which individuals are
				eligible for federal individual assistance.
(5) Documentation that provides evidence that
				the housing project is needed due to impact of the disaster that is the subject
				of the presidential major disaster declaration.
(6) Information showing that the housing
				project is located outside of a 100-year floodplain.
(7) Any other information deemed necessary by
				the authority to evaluate the eligibility and financial need of the housing
				project under the disaster recovery housing program.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.11 - Disaster Recovery Housing Tax Incentives

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Eligibility.
A housing
				business that has entered into an agreement with the authority for the
				successful completion of program requirements pursuant to rule
				261-48.10 (15) is eligible to
				receive the tax incentives described in subrules 48.11(2) and
				48.11(3).
(2)
Sales tax
				refunds.
A housing business may claim a refund of the sales and use
				taxes paid under Iowa Code chapter 423 that are directly related to a disaster
				recovery housing project. The refund available pursuant to this subrule shall
				be as provided in Iowa Code section
				15.331A
				to the extent applicable for purposes of the disaster recovery housing
				program.
(3)
Income tax
				credits.
a. For a disaster recovery
				housing project, a housing business may claim a tax credit in an amount not to
				exceed 20 percent of the qualifying new investment of a disaster recovery
				housing project.
b. The tax credit
				shall be allowed against the taxes imposed in Iowa Code chapter 422,
				subchapters II, III, and V, and in Iowa Code chapter 432, and against the
				moneys and credits tax imposed in Iowa Code section
				533.329.
c. To claim a tax credit under this subrule,
				a taxpayer shall file a claim with the department of revenue pursuant to the
				department's applicable rules.
d.
				Atax credit certificate issued under an agreement entered into pursuant to
				subrule 48.10(3) may be transferred to any person pursuant to the department's
				applicable rules. However, tax credit certificate amounts of less than $1,000
				shall not be transferable.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.12 - Program Funding Allocation and Management of Excess Demand

Current through Register Vol. 47, No. 3, July 24, 2024
The authority shall allocate $10 million to disaster recovery
				  housing tax incentives pursuant to rules
				  261-48.9 (15) to
				  261-48.13 (15). In allocating
				  tax credits pursuant to Iowa Code section
				  15.119(5)
				   for the period beginning July 1, 2019, and
				  ending June 30, 2024, the authority shall not allocate more than $10 million
				  for purposes of Iowa Code section
				  15.119(5).
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 48 - Workforce Housing Tax Incentives Program › Rule 261-48.13 - Application Submittal and Review Process

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The authority will develop a standardized
				application and make the application available to eligible housing businesses
				and to communities. To apply for assistance under the disaster recovery housing
				program, an interested person shall submit an application to the authority.
				Applications must be submitted online at
www.iowagrants.gov
. Instructions for
				application submission may be obtained at
www.iowagrants.gov
or by contacting the
				Community Development Division, Economic Development Authority, 1963 Bell
				Avenue, Suite 200, Des Moines, Iowa 50315.
(2) The authority has final decision-making
				authority on requests for financial assistance for the disaster recovery
				housing program. Applications will be reviewed and scored by the staff of the
				authority. The director or the director's designee will make final funding
				decisions after considering the recommendations of staff. The director may
				approve, defer or deny an application.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 49 - Historic Preservation and Cultural and Entertainment District Tax Credits › Rule 261-49.1 - Purpose

Current through Register Vol. 47, No. 3, July 24, 2024
A historic preservation and cultural and entertainment
				  district tax credit may be applied against the income tax imposed under Iowa
				  Code chapter 422, division II, III, or V, or Iowa Code chapter 432 for
				  qualified rehabilitation projects that have entered into and complied with an
				  agreement with the economic development authority (hereinafter referred to as
				  "the authority") and complied with all applicable terms, laws, and rules. The
				  program is administered by the authority with the assistance of the department
				  of cultural affairs and the department of revenue. The general assembly has
				  mandated that the authority, the department of cultural affairs and the
				  department of revenue adopt rules to jointly administer Iowa Code chapter 404A.
				  In general, the department of cultural affairs reviews historic preservation
				  issues and evaluates whether projects comply with the prescribed historic
				  standards for rehabilitation. Once the historical significance and description
				  of rehabilitation have been approved, the authority enters into an agreement
				  with the eligible taxpayer and issues a tax credit upon completion of all
				  program requirements and verification of qualified rehabilitation expenditures.
				  The department of revenue is responsible for administering tax credit transfers
				  and processing tax credit claims. This chapter sets forth the administration of
				  the program by the authority. The administrative rules for the department of
				  cultural affairs' administration of the program can be found in rules
				  223-48.22(404A) through
				  223-4837. (303,404A). The
				  administrative rules for the department of revenue's administration of the
				  program may be found in rules 701-42.19(404A), 701-42.55 (404A,422), 701-52.48
				  (404A,422), and 701-58.10(404A,422).
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 49 - Historic Preservation and Cultural and Entertainment District Tax Credits › Rule 261-49.2 - Program Transition

Current through Register Vol. 47, No. 3, July 24, 2024
The 2016 general assembly made several changes to the
				  historic tax credit program, including transferring the primary responsibility
				  for the program's administration to the authority in consultation with the
				  department of cultural affairs. For projects registered prior to August 15,
				  2016, the program is administered by the department of cultural affairs and the
				  department of revenue pursuant to the statutes and rules that apply to projects
				  registered prior to August 15, 2016. On or after August 15, 2016, the program
				  is administered by the economic development authority in consultation with the
				  department of cultural affairs pursuant to Iowa Code chapter 404A. Chapter 49
				  applies to projects that are registered on or after August 15,
				  2016.
Iowa Administrative Code › Agency 261 - Economic Development Authority › Part III - Community Development Division › Chapter 49 - Historic Preservation and Cultural and Entertainment District Tax Credits › Rule 261-49.4 - Qualified Rehabilitation Expenditures

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Definition. "Qualified
				rehabilitation expenditures" or "QREs"
means expenditures that meet
				the definition of "qualified rehabilitation expenditures" in Section 47 of the
				Internal Revenue Code and are specified in the agreement.
(2)
Expenditures incurred by
				nonprofit organizations.
Notwithstanding the foregoing subrule,
				expenditures incurred by an eligible taxpayer that is a nonprofit organization
				shall be considered "qualified rehabilitation expenditures" if they are any of
				the following:
a. Expenditures made for
				structural components, as that term is defined in Treasury Regulation
				§1.48-1(e)(2).
b. Expenditures
				made for architectural and engineering fees, site survey fees, legal expenses,
				insurance premiums, and development fees.