Iowa Administrative Code

“Authority” means the economic development authority created in Iowa Code section 15.105. “Authority’s website” means the information and related content found at opportunityiowa.gov and may include integrated content at affiliate sites. “Board” means the same as defined in Iowa …

1.2(1) Meetings. a. The board generally meets monthly at the authority’s offices. By notice of the regularly published meeting agendas, the board and its committees may hold regular or special meetings at other locations within the state. Meeting agendas are available on the auth…

1.3(1) General. The authority’s organizational structure consists of the board, the director and such divisions as the director may from time to time create. 1.3(2) Chief designee. The director may designate an employee to administer the authority in the director’s absence. Such …

development authority by contacting the authority at its offices located at 1963 Bell Avenue, Des Moines, Iowa 50315; by telephone at 515.348.6200; or through the authority’s website. [ARC 9995C, IAB 1/21/26, effective 2/25/26] These rules are intended to implement Iowa Code chap…

of technical and financial assistance to entrepreneurs and start-up companies seeking to create, locate, or expand a business in the state. Moneys for financial assistance under the program will be awarded from the moneys in the entrepreneur investment awards program fund created…

“Applicant” means a provider applying to the authority for financial assistance under the program. “Authority” means the same as defined in Iowa Code section 15.102. “Board” means the same as defined in Iowa Code section 15.102. “Business development services” means the same as d…

authority. The authority will review applications to confirm program eligibility pursuant to Iowa Code section 15E.362(3). Eligible applications will be sent to the committee to develop a recommendation on funding pursuant to rule 261—102.4(15E). The committee will provide its re…

102.4(1) Eligibility. To be eligible for financial assistance under the program, an applicant must meet all the requirements in Iowa Code section 15E.362(3), in addition to all of the following requirements: a. The applicant must have its principal place of operations in the stat…

102.5(1) Contract required. An applicant awarded financial assistance under the program shall enter into a contract with the authority for the receipt of such funds. The provider shall maintain all eligibility requirements for the duration of a contract. The contract may include …

component is established pursuant to Iowa Code section 15.411(5) for the purpose of accelerating the generation and development of innovative ideas and businesses. The demonstration fund program component is established pursuant to Iowa Code section 15.411(2) to encourage prototy…

“Authority” means the same as defined in Iowa Code section 15.102. “Board” means the same as defined in Iowa Code section 15.102. “Committee” means the technology commercialization committee established pursuant to Iowa Code section 15.116. “Demo” means the demonstration fund pro…

105.3(1) Awards are made on a per-project basis upon board approval. 105.3(2) The committee and board may establish maximum award amounts for each program component. 105.3(3) POCR funds may be used for third-party technology evaluation, regulatory analysis, identifying partners o…

demonstrate the ability to secure one dollar of nonstate moneys for every two dollars received from the authority. [ARC 8452C, IAB 12/11/24, effective 1/15/25]

for high growth, and be included in one of the following industries classified by the NAICS: 1. Biosciences. 2. Information technologies. 3. Advanced manufacturing. [ARC 8452C, IAB 12/11/24, effective 1/15/25]

105.6(1) A business that is engaged in retail sales or provides health services is ineligible. In determining whether a business is engaged in retail sales, factors the authority will consider include but are not limited to the sources of the business’s revenue, whether the busin…

105.7(1) An eligible business seeking financial or technical assistance must submit an application to the authority in the form and with the content specified by the authority. 105.7(2) The authority will review applications to confirm program eligibility pursuant to Iowa Code se…

committee and board shall consider the following criteria: 105.8(1) Intellectual property. How the ownership of the IP is structured. Preference will be given to applicants with greater IP control by the business. 105.8(2) Experience. The business’s experience in productization a…

105.9(1) Successful applicants will be notified in writing of an award of assistance, including any conditions and terms of the approval. 105.9(2) The authority will prepare a contract that includes but is not limited to a description of the project to be completed by the busines…

“Applicant” means a business applying to the authority for assistance under the program. “Assistance” means technical and financial assistance available under the program. “Authority” means the economic development authority created in Iowa Code section 15.105. “Award” means SBIR…

following requirements: 1. Meet the small business requirements defined by the federal Small Business Administration (SBA). 2. Be an innovative business; 3. Have a reasonable likelihood of receiving an award; 4. Be likely to stimulate subsequent investment by industry, venture ca…

106.3(1) Technical assistance. a. Technical assistance provided by the authority under the program may include the following: (1) Detailed outlines and other tools to facilitate drafting of a proposal and gathering accompanying documentation. (2) Reviews and critiques of proposal…

106.4(1) Agreement required. An applicant awarded financial assistance under the program shall enter into an agreement with the authority that includes all terms and conditions for receipt of funds. The authority will make the final determination as to compliance with the terms o…

components established pursuant to Iowa Code section 15.411(5) for the expansion of investment in applied research and a component for a manufacturing extension partnership program. The authority may delegate certain administrative functions to a service provider engaged pursuant…

“Applicant” means an innovative business or other business, a university, a nonprofit organization, or another entity applying to the authority for assistance under the program. “Applied research” means a systematic inquiry into the practical application of science and technology…

108.3(1) Description. The program provides technical assistance and financial assistance for the expansion of applied research and support for an MEP. All awards of financial assistance must be approved by the board, after submission of a proposal by the applicant and a recommend…

listed in Iowa Code section 15.411, including this program. The amount allocated each year will depend on the amount appropriated to the authority by the general assembly. The authority may allocate other funds to the program as such funds may from time to time become available. …

108.5(1) Contract required. An applicant awarded financial assistance under the program shall enter into a contract with the authority for the receipt of such funds. No funds will be disbursed to the applicant until the applicant has entered into a contract with the authority. Th…

to the state of Iowa on October 11, 2022, from the State Small Business Credit Initiative established by the United States Department of the Treasury. The funds are administered by the authority. [ARC 6978C, IAB 4/5/23, effective 5/10/23]

“Allocation” means the funds allocated to the state of Iowa on October 11, 2022, from the SSBCI by the Treasury. “Allocation” does not include any funds allocated to the state of Iowa from the SSBCI prior to October 11, 2022. “Authority” means the economic development authority c…

applicable federal laws, regulations, and guidance, including but not limited to any reporting requirements. The allocation will also be administered in accordance with any agreements between the state and Treasury relating to the SSBCI. [ARC 6978C, IAB 4/5/23, effective 5/10/23]

1. A loan participation program for manufacturing 4.0 investments. 2. A small business collateral support program. 3. A venture capital innovation fund program. 4. A venture capital co-investment fund program. 5. Any other purposes approved by the Treasury. [ARC 6978C, IAB 4/5/23…

administrative functions of the program to service providers who have entered into an agreement with the authority to provide such services. Functions that may be delegated pursuant to this rule include but are not limited to initial application review, tracking and monitoring of…

“Affiliate” means the same as defined in Iowa Code section 15E.26. For the purposes of this definition, “controlling equity interest” means ownership of more than 50 percent of the outstanding equity interests of a corporation, partnership, limited liability company, or trust. “A…

114.2(1) Eligibility for certification as a qualifying business. A business shall meet all of the criteria in Iowa Code section 15E.28 to be eligible for certification as a qualifying business. 114.2(2) Length of business operations. For the purposes of determining whether a busi…

114.3(1) Only investments made after the date a qualifying business submits an application for certification shall qualify for a tax credit. 114.3(2) A taxpayer shall not claim a tax credit through the program if the taxpayer receives a tax credit for the same investment through …

114.4(1) Annual business application. The annual application submitted by qualifying businesses will include: a. A report from the business of any changes to the information provided in the application for certification pursuant to subrule 114.2(3). b. The names, addresses, email…

114.5(1) Issuance by the authority. The authority shall issue tax credit certificates to investors pursuant to Iowa Code section 15E.28 provided, however, that such tax credit certificate shall be subject to rescission pursuant to paragraph 114.2(5)“d.” 114.5(2) Vested right. A t…

“Authority” means the economic development authority created in Iowa Code section 15.105. “Board” means the same as defined in Iowa Code section 15.102. “Convertible debt” means debt that may be converted to equity at the option of the debt holder but has not yet been converted. …

116.2(1) An innovation fund shall submit an application for certification to the authority prior to the issuance of any investment tax credits to investors in such innovation funds. The innovation fund must submit the application within 120 days from the first date on which the e…

116.3(1) On or before December 31 of each year, each certified innovation fund shall collect and provide to the board, in the manner and form prescribed by the authority, the following information and documentation: a. The amount of equity investments made in the innovation fund,…

116.4(1) Investments made more than 120 days before an innovation fund applies for certification are not eligible for a tax credit. 116.4(2) A taxpayer shall not claim a tax credit through the program if the taxpayer receives a tax credit for the same investment through another p…

116.5(1) Investor application. Investors may apply for an investment tax credit certificate for each equity investment made in a certified innovation fund by submitting an application to the authority for approval by the board and providing such other information and documentatio…

116.6(1) Preparation of the certificate. The tax credit certificate shall be in a form approved by the authority and shall contain the taxpayer’s name, address, and tax identification number; the amount of credit; the name of the innovation fund; the year in which the investment …

and documentation from an innovation fund regarding the operations, job creation and economic impact of the fund, and the authority may use such information in preparing and publishing any reports to be provided to the governor and the general assembly to the extent such informat…

develop commonly utilized assets that provide an advantage to one or more private sector entities or that create necessary physical infrastructure in the state of Iowa, and such projects are not adequately provided by the public or private sectors. [ARC 8453C, IAB 12/11/24, effec…

“Authority” means the economic development authority created in Iowa Code section 15.105. “Board” means the members of the economic development authority appointed by the governor and in whom the powers of the authority are vested pursuant to Iowa Code section 15.105. “Council” m…

under the program, an applicant shall do all of the following: 118.3(1) The applicant must propose to invest in strategic infrastructure and describe how each element in Iowa Code section 15.313(4)“b” is satisfied. 118.3(2) The applicant must describe in detail the nature, scope,…

118.4(1) The authority will develop a standardized application process and invite applicants with strategic infrastructure projects that may be eligible for the program to apply. To apply for assistance under the program, an applicant shall submit an application to the authority …

118.5(1) The overall quality of the proposed strategic infrastructure project, including the project’s estimated economic impact. The council will consider the structure of the proposed strategic infrastructure project and the partnerships proposed to be formed. 118.5(2) The exte…

118.6(1) Notice of award. Successful applicants will be notified in writing of an award of financial assistance, including any conditions and terms of the award. 118.6(2) Contract administration and amendments. The authority will prepare a contract for each award approved by the …