Iowa Administrative Code

261—49.3(404A) may apply for the tax credit. A nonprofit organization as defined in rule 261—49.3(404A) may apply for the tax credit if the nonprofit organization is the fee simple owner of the property. 49.9(1) Preliminary documentation. At the time a Part 1 application or Part …

financial assistance to businesses for projects relating to butchery innovation and revitalization as identified in this chapter. [ARC 5971C, IAB 10/6/21, effective 9/17/21; ARC 6638C, IAB 11/16/22, effective 10/21/22]

“Agreement” means a contract for financial assistance under the program describing the terms on which the financial assistance is to be provided. “Applicant” means a business applying for assistance under the program. “Authority” means the economic development authority created i…

51.3(1) Eligible businesses. To be eligible for a grant under the program, an applicant shall meet all of the eligibility requirements in Iowa Code section 15E.370(4) as amended by 2023 Iowa Acts, House File 185, in addition to all of the following requirements: a. The business m…

51.4(1) The authority will develop a standardized application process and make information on applying available on the authority’s website. To apply for assistance under the program, an eligible business shall submit an application to the authority in the form and manner prescri…

51.5(1) Application scoring. A scoring committee composed of individuals with relevant expertise and experience will be appointed by the director in consultation with the secretary. The committee will evaluate the applications and give them an average numerical score between 0 an…

51.6(1) The authority will prepare a contract for each award approved by the board. The contract will reflect the terms of the award and may include other terms and conditions reasonably necessary for implementation of the program pursuant to this chapter. 51.6(2) Any substantive…

complete application has been received, an award has been approved by the board, a contract has been executed between the applicant and the authority, and all applicable conditions for disbursement have been met, including the submission of documentation pertaining to the eligibl…

information reasonably requested by the authority in sufficient detail to permit the authority to prepare any reports required by the authority, the board, the general assembly or the governor’s office. [ARC 5971C, IAB 10/6/21, effective 9/17/21; ARC 6638C, IAB 11/16/22, effectiv…

“Act” means the Iowa targeted small business procurement Act codified in Iowa Code chapter 73, subchapter III. “Authority” means the same as defined in Iowa Code section 15.102(1). “Certification” means the process that identifies small businesses as targeted small businesses and…

52.2(1) A business must be certified as a targeted small business by the authority to participate in the program. Businesses seeking certification shall submit an application to the authority in the form and content required by the authority. The application will include informat…

targeted small business pursuant to Iowa Code section 15.102(12) and eligible for certification. Documentation may be required to prove each eligibility requirement. The authority may conduct on-site audits to evaluate eligibility. 52.3(1) Ownership. The authority will evaluate t…

52.4(1) If the authority determines there is reasonable cause to believe a business does not comply with the requirements of the program, the authority shall provide written notice of the intent to revoke certification to the business. Notice shall be sent at least 20 days before…

bond waiver from a state agency pursuant to Iowa Code section 12.44. A TSB must provide a sworn statement and documentation from surety companies verifying that the TSB is entitled to a waiver pursuant to Iowa Code section 12.44. 52.5(1) The authority reviews all requests for wai…

52.6(1) TSB directory and purchases. The authority compiles and regularly updates a TSB directory that contains a listing of TSBs that have been certified by the authority. Entities required to make purchases from TSBs pursuant to the Act utilize the directory to identify TSBs fo…

assist targeted group persons to establish or expand small business ventures in Iowa. [ARC 8260C, IAB 10/16/24, effective 11/20/24]

“Authority” means the same as defined in Iowa Code section 15.102. “Disability” means the same as defined in Iowa Code section 15.102. “Minority person” means the same as defined in Iowa Code section 15.102. “Place of abode” means a place of stay, permanent or for some time, for …

55.3(1) Application procedures. Application materials may be obtained from the authority. 55.3(2) Maximum funding. The maximum loan amount is $50,000. The interest rate charged shall not exceed 5 percent per annum or be less than 0 percent per annum. A targeted small business sha…

55.4(1) The authority will monitor the recipient’s records to ensure compliance with the terms of the award. The authority may request information on the condition of the business at any time during the life of the loan to determine the status of the project. 55.4(2) The authorit…

proposed by the authority prior to disbursement of funds. Requests for disbursement and loan documents shall be in the form and content specified by the authority. [ARC 8260C, IAB 10/16/24, effective 11/20/24] These rules are intended to implement Iowa Code section 15.108 and 201…

“Agreement” means a contract for financial assistance under the program describing the terms on which the financial assistance is to be provided. “Applicant” means a business applying for assistance under the program. “Authority” means the economic development authority created i…

56.2(1) Program eligibility. To be eligible under the program, an applicant shall meet all of the following requirements: a. The business is interested in establishing an ESOP. b. The business is, or documents intent to become, an Internal Revenue Service (IRS) subchapter C or su…

56.3(1) Each applicant that is approved for financial assistance under the program shall enter into an agreement with the authority to establish the terms on which the financial assistance is to be provided. 56.3(2) The authority may reimburse a business for up to 25 percent of t…

“Acquisition” means the purchase of brownfield or grayfield property. “Affiliate” or “affiliated entity” means any entity to which one or more of the following applies: 1. The entity directly, indirectly, or constructively controls another entity. 2. The entity is directly, indir…

in Iowa Code chapter 15, subchapter II, part 17, and this rule. 65.2(1) Site control. The applicant must own the brownfield site or grayfield site or the applicant must have an agreement with the owner of a brownfield site or grayfield site prior to applying for tax credits. The …

investment for the purposes of the program, the following shall not be included: 1. The portion of the total cost of a project that is financed by federal, state, or local government tax credits, grants, forgivable loans, or other forms of financial assistance that do not require…

65.4(1) Application. a. Applications for redevelopment tax credits will only be accepted during the annual application period established by the authority. b. An investor applying for a tax credit shall provide the authority with all of the following: (1) The total costs of the q…

65.5(1) Tax credit certificate. a. Issuance. The authority may issue a redevelopment tax credit certificate upon completion of the project and submittal of proof of completion by the qualifying investor, including the CPA attestation required pursuant to Iowa Code section 15.293B…

“Agricultural land” means the same as defined in Iowa Code section 15.491(1A) as enacted by 2024 Iowa Acts, Senate File 574, section 3. “Authority” means the same as defined in Iowa Code section 15.102(1). “Award date” means the date the board approved an application for program …

67.2(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 f…

67.3(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…

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 pursuan…

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. 67.5(1) To be considered for …

67.6(1) Execution. Successful applicants will be required to execute an agreement with the authority within 180 days of the award date. The time limit for execution may be extended by the authority director for an additional 180 days for good cause shown. Upon expiration of the t…

67.7(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…

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 requirement…

“Authority” means the same as defined in Iowa Code section 15.327(1). “Award date” means the date the board approved an application for project completion assistance or tax incentives. “Base employment level” means the same as defined in Iowa Code section 15.327(2). “Benefit” mea…

68.2(1) Community approval and local match. Community approval of the project by ordinance or resolution is required as specified in Iowa Code section 15.329(1)“a.” Local match may be required from the community or other relevant entity pursuant to criteria established by the boa…

68.3(1) Application. Businesses applying for the program 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. For a p…

applicable tax incentives allowed through the program pursuant to Iowa Code section 15.331A, 15.331C, 15.332, 15.333, 15.333A, or 15.335. An approved business shall not claim a tax incentive in excess of the amount specified in an agreement entered into pursuant to Iowa Code sect…

68.5(1) Awards and negotiations. The authority may award project completion assistance, in the form of a loan or forgivable loan or combination of both, to a business that meets the eligibility requirements of the program. All award determinations are subject to the requirements …

68.6(1) Execution. Successful applicants will be required to execute an agreement with the authority within 180 days of the award date. The time limit for execution may be extended by the authority director for an additional 180 days for good cause shown. Upon expiration of the t…

68.7(1) Overview. The authority will count created and retained 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…

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 15.330. Jobs that do not meet the qualifying wage threshold requirements will not be counted toward a business’s job cr…

68.9(1) Capital investment. The authority reports on the amount of capital investment involved with funded projects. This rule lists the categories of expenditures that are included when the authority determines the amount of capital investment associated with a project. 68.9(2) …

“Agreement” means an agreement entered into pursuant to Iowa Code section 15.506 as enacted by 2025 Iowa Acts, Senate File 657. “Authority” means the economic development authority created in Iowa Code section 15.105. “Award date” means the date the board approved an application …

69.2(1) Community approval. Community approval of the project by ordinance or resolution is required as specified in Iowa Code section 15.504 as enacted by 2025 Iowa Acts, Senate File 657. 69.2(2) Eligible businesses. a. For the purposes of determining whether a business is an el…

69.3(1) Application. Businesses applying for the program shall utilize a standardized application developed by the authority and submit the application to the authority electronically. 69.3(2) Community participation. The application shall include an ordinance or resolution of th…

69.4(1) In negotiating the terms of, and the aggregate value of, tax incentives or financial assistance, the authority will consider a variety of factors, including but not limited to the following. a. Economic impact. The extent to which an eligible business’s proposed project d…

applicable tax incentives allowed through the program pursuant to Iowa Code section 15.507 or 15.508 as enacted by 2025 Iowa Acts, Senate File 657. An approved business shall not claim a tax incentive in excess of the amount specified in an agreement. 69.5(1) Property tax exempti…