Title I, STATE SOVEREIGNTY AND MANAGEMENT (Ch. 1 - 38D)

1. Applications for the program shall be submitted to the authority in the form and manner prescribed by the authority by rule. Each application must be accompanied by an application fee in an amount determined by the authority by rule. 2. In determining the eligibility of a busi…

1. An eligible business that is approved by the authority to participate in the program shall enter into an agreement with the authority that specifies the criteria for the successful completion of all requirements of the program. The agreement must contain, at a minimum, provisi…

1. An eligible business that has been issued a tax incentive certificate under the program shall be entitled to a refund of the sales and use taxes paid under chapter 423 for gas, electricity, water, and sewer utility services, tangible personal property, or on services rendered,…

1. The authority may authorize a tax credit for an eligible business that is up to five percent of the eligible business’s qualifying investment. The authority shall not issue a tax credit certificate to the eligible business until the eligible business’s project has been placed …

1. From the remittance due to the department of revenue pursuant to section 422.16 , an eligible business may withhold an amount, pursuant to section 15.494, subsection 1 , paragraph “f” , of the gross wages paid to each employee in a created job that pays at least the qualifying…

1. The board may authorize an exemption to restrictions on agricultural land holdings for a foreign business if all of the following requirements are satisfied: a. The foreign business qualifies as an eligible business pursuant to section 15.492 . b. As part of the application of…

1. Except for the targeted jobs withholding credit pursuant to section 403.19A , an eligible business may apply for and be eligible to receive other federal, state, and local incentives in addition to the tax incentives issued by the authority to the eligible business under the p…

1. A community in which an eligible business’s project is located may grant the eligible business a property tax exemption for a portion of the actual value added by improvements to real property directly related to the eligible business’s created jobs. The community may allow a …

The board shall not authorize tax incentives available under the program, or an exemption to restrictions on agricultural land holdings pursuant to this part , for more than two eligible businesses, or on or after January 1, 2027, whichever occurs first. 2024 Acts, ch 1090, §13, …

This part shall be known and may be cited as the “Business Incentives for Growth Program” or “BIG Program” . 2025 Acts, ch 136, §9, 20 NEW section

As used in this part , unless the context otherwise requires: 1. “Base employment level” means the number of full-time equivalent positions at a business, as established by the authority and the business using the business’s payroll records, as of the date the business applies fo…

1. To be eligible to receive tax incentives under the program, a business must meet all of the following requirements: a. The community in which the proposed project is located must approve the project either by ordinance or resolution. b. (1) The business must be primarily engag…

1. a. Applications for the program shall be submitted to the authority in the form and manner prescribed by the authority by rule. Each application must be accompanied by an application fee in an amount determined by the authority by rule. b. For a proposed project that will resu…

1. An eligible business that is approved by the authority to participate in the program shall enter into an agreement with the authority that specifies the criteria for the successful completion of all requirements of the program. The agreement must contain, at a minimum, provisi…

1. An eligible business that has been issued a tax incentive certificate under the program shall be entitled to a refund, as negotiated under section 15.505, subsection 3 , of the sales and use taxes paid under chapter 423 for gas, electricity, water, and sewer utility services, …

1. The authority may authorize a tax credit for an eligible business pursuant to section 15.505, subsection 3 . The authority shall not issue a tax credit certificate to the eligible business until the eligible business’s project or a portion of the project has been placed in ser…

1. An eligible business may apply for and be eligible to receive other federal, state, and local incentives in addition to the tax incentives issued by the authority to the eligible business under the program. 2. The authority, in its discretion, may prohibit an eligible business…

1. If an eligible business has been authorized by the board to receive tax incentives under the program, a community in which the eligible business’s project is located may grant the eligible business a property tax exemption for a portion of the actual value added by improvement…

1. The authority may provide financial assistance to an eligible business pursuant to section 15.111, subsection 2 , paragraph “a” , subparagraph (8), if the authority and the board find such assistance necessary to facilitate the project’s successful completion, that the project…

1. As used in this section : a. “Fund” means the Iowa film production incentive fund. b. “Program” means the Iowa film production incentive program. c. “Qualified expenditure” means an allowed expense, as determined by the authority by rule, that is incurred by a qualified produc…

This part shall be known and may be cited as the “Research and Development Tax Credit Program” . 2025 Acts, ch 136, §108, 118 NEW section

As used in this part , unless the context otherwise requires: 1. “Eligible expenditures” means qualified research expenses under section 41 of the Internal Revenue Code , to the extent the expenditures occurred in this state. 2. “Qualified business” means a business certified by …

1. The tax credit available pursuant to this part shall be available only to a business primarily engaged in any of the following: a. Advanced manufacturing. b. Bioscience. c. Insurance and finance. d. Technology and innovation. 2. For a business described in subsection 1 , the s…

1. A business shall submit a preapplication to the authority to determine whether the business is primarily engaged in an eligible sector identified in section 15.522 and is actively engaged in qualified research and development. The determination made by the authority shall be b…

1. For tax years beginning on or after January 1, 2026, a research and development tax credit is available to a qualified business that is approved for the tax credit by the authority. 2. Upon submission of the documentation required pursuant to section 15.523, subsection 4 , and…

1. A qualified business shall report annually to the authority all of the following: a. The total amount of investment made in research and development. b. The qualified location in this state where the research and development occurred. c. The number of jobs created, wages paid,…

1. Except as provided in subsection 2 , all information or records in the possession of the authority with respect to this part shall be presumed by the authority to be a trade secret protected under chapter 550 or common law, and shall be kept confidential by the authority unles…

This part shall be known and may be cited as the “Sustainable Aviation Fuel Production Tax Credit Program” . 2025 Acts, ch 136, §119, 129, 130 Referred to in §15.535 For future repeal of this section effective January 1, 2037, see §15.535 Sustainable aviation fuel tax credits iss…

As used in this part , unless the context otherwise requires: 1. “Aviation gasoline” means the same as defined in section 452A.2 . 2. “Eligible taxpayer” means a business engaged in manufacturing sustainable aviation fuel from feedstock. 3. “Feedstock” means any organic matter pr…

1. a. An eligible business that produces a sustainable aviation fuel in this state from feedstock during a calendar year may apply to the authority for the sustainable aviation fuel tax credit provided in section 15.533 . b. The application must be made to the authority in the ma…

1. An eligible business that has entered into an agreement pursuant to section 15.532 may claim a tax credit in an amount equal to the product of twenty-five cents multiplied by the number of gallons of sustainable aviation fuel produced in this state from feedstock. The sustaina…

1. For purposes of this section , “successful tax credit applicant” includes, with respect to each fiscal year, an eligible business that was issued a tax credit certificate for production of sustainable aviation fuel during that fiscal year. 2. The annual report under section 15…

Sections 15.530 , 15.531 , 15.532 , 15.533 , 15.534 , and this section are repealed January 1, 2037. 2025 Acts, ch 136, §124, 129, 130 Section applies retroactively to January 1, 2025, for tax years beginning on or after that date; 2025 Acts, ch 136, §130 NEW section