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

1. The authority has any and all powers necessary and convenient to carry out its purposes and duties and exercise its specific powers, including but not limited to the power to: a. Sue and be sued in its own name. b. Have and alter a corporate seal. c. Make and alter bylaws for …

1. In addition to the general powers described in section 15.106A , the authority shall have all powers convenient and necessary to carry out its programs. 2. For purposes of this section , “powers convenient and necessary” includes but is not limited to the power to: a. Undertak…

1. a. The operations of the authority shall be administered by a director who shall be appointed by the governor, subject to confirmation by the senate, and who shall serve at the pleasure of the governor. b. The director of the economic development authority under paragraph “a” …

1. The authority may issue its negotiable bonds and notes in principal amounts as, in the opinion of the authority, are necessary to finance the cost of business enterprises, to finance the working capital needs of businesses, to refinance existing indebtedness incurred for any o…

1. The authority may prohibit a person from receiving an award of financial assistance, or from being selected as a vendor to provide goods or services to the authority in any of the following circumstances: a. An act or omission by the person seriously affects or threatens publi…

1. The authority shall establish a bioscience development corporation as a nonprofit corporation organized under chapter 504 and qualifying under section 501(c)(3) of the Internal Revenue Code as an organization exempt from taxation. Unless otherwise provided in this subchapter ,…

1. The corporation’s board of directors and the chief executive officer shall determine the activities and priorities of the corporation within the general parameters of the duties and responsibilities described in this section and in this subchapter . 2. The corporation shall, t…

1. On or before January 31 of each year, the director shall submit to the authority board and the general assembly a report that describes the activities of the authority during the preceding fiscal year. The report shall include detailed information about jobs created, capital i…

1. In performing delegated functions pursuant to section 15.107A or when engaged in activities that utilize public funding, the corporation shall comply with the provisions of this section . 2. a. The corporation shall submit an annual report to the governor, general assembly, an…

The authority has the following areas of primary responsibility: 1. Finance. To provide for financial assistance to businesses, local governments, and educational institutions through loans and grants of state and federal funds to enable them to promote and achieve economic devel…

The economic development authority shall coordinate the development of state and local government programs in order to promote efficient and economic use of federal, state, local, and private resources. The authority shall: 1. Provide technical and financial assistance to local a…

The authority shall not require a city or county to be a dues paying member of a council of governments. 90 Acts, ch 1262, §23 ; 2011 Acts, ch 118, §87, 89 Councils of governments; see chapter 28H

1. a. Under the authority provided in section 15.106A , there shall be established one or more funds within the state treasury, under the control of the authority, to be used for purposes of this section . b. A fund established for purposes of this section shall consist of any mo…

If an entity that is awarded a tax incentive or other financial assistance under any of the programs administered by the authority experiences a business closure or a mass layoff for which notice is required under chapter 84C , the authority may reduce or eliminate some or all of…

Before authorizing tax incentives or disbursing moneys to a person or business applying for assistance under any of the authority’s programs, the authority shall conduct a search for outstanding state or local tax liability, tax liens, or other related delinquencies. The authorit…

The authority shall ensure that businesses in the state are well informed about the technology patents, licenses, and options available to them from colleges and universities in the state and to ensure the authority’s business development and marketing efforts are conducted in a …

To evaluate and make recommendations to the authority on appropriate funding for the projects and programs applying for financial assistance from the innovation and commercialization development fund created in section 15.412 , the economic development authority shall create a te…

1. An Iowa innovation council is established within the authority. The authority shall provide the council with staff and administrative support. The authority may expend moneys allocated to the innovation and commercialization division in order to provide such support. The autho…

1. The board and the authority shall give due regard to the confidentiality of certain information disclosed by applicants for financial assistance during the application process, the contract administration process, and the period following closeout of a contract in the manner d…

1. a. Notwithstanding any provision to the contrary in any of the business development programs listed in subsection 2 , the authority, except as provided in paragraph “b” , shall not authorize for any one fiscal year an amount of tax credits for the programs specified in subsect…

1. The Iowa energy center is established within the authority with the following purposes: a. To expand workforce and career opportunities for workers in the energy sector to ensure that the state is able to attract and train professionals to meet the state’s future energy needs.…

1. The director shall appoint and the governor shall certify the state historic preservation officer pursuant to federal requirements. The recommendations and decisions of the state historic preservation officer shall be subject to the review and approval of the director of the e…

1. The state historic preservation officer shall only recommend that a rural electric cooperative or a municipal utility constructing electric distribution and transmission facilities for which it is receiving federal funding conduct an archeological site survey of its proposed r…

The authority shall operate an agricultural marketing program designed to lead to more advantageous marketing of Iowa agricultural products. The authority may develop and carry out activities to implement this program, and shall: 1. Investigate the subject of marketing agricultur…

The authority may accept grants and allotments of funds from the federal government and enter into cooperative agreements with the secretary of agriculture of the United States for projects to effectuate any of the purposes of the agricultural marketing program; and may accept gr…

1. a. The economic development authority shall, pursuant to section 15.106A, subsection 1 , paragraph “o” , establish a community catalyst building remediation fund for the purpose of providing grants to cities for the remediation of underutilized buildings. The authority shall a…

The authority may charge, within thirty days following the sale of certificates under chapter 260E , the board of directors of the merged area a fee of up to one percent of the gross sale amount of the certificates issued. The amount of this fee shall be deposited and allowed to …

The authority shall adopt rules pursuant to chapter 17A to implement this part. 86 Acts, ch 1238, §45 ; 86 Acts, ch 1245, §817 ; 89 Acts, ch 270, §2 ; 2011 Acts, ch 118, §87, 89

1. A vacant buildings demolition fund is created in the state treasury under the control of the authority. The fund shall consist of all moneys appropriated to the fund. 2. Moneys in the vacant buildings demolition fund are appropriated to the authority for purposes of funding a …

1. A vacant buildings rehabilitation fund is created in the state treasury under the control of the authority. The fund shall consist of all moneys appropriated to the fund. 2. Moneys in the vacant buildings rehabilitation fund are appropriated to the authority for purposes of fu…

1. The authority shall assist the department of natural resources in promoting the state parks, state recreation areas, lakes, rivers, and streams under the jurisdiction of the natural resource commission for tourism purposes. The department of natural resources shall provide the…

The economic development authority, in cooperation with the state department of transportation, shall establish and administer a program designed to promote knowledge of and access to buildings, sites, districts, structures, and objects located in this state that have been design…

1. From the moneys transferred to the authority from the beer and liquor control fund pursuant to section 123.17, subsection 7 , the authority shall award contracts to one or more entities to conduct statewide tourism marketing services and efforts and to provide services to camp…

1. For purposes of this section : a. “Eligible applicant” means a city, county, or not-for-profit organization. b. “Rural community” means a community that has a population of fewer than twenty thousand persons as determined by the most recent population estimate produced by the …

As used in this part, unless the context otherwise requires: 1. “Abandoned public building” means a vertical improvement, as defined in section 15J.2 , constructed for use primarily by a political subdivision of the state for a public purpose and whose current use is outdated or …

1. a. A redevelopment tax credit shall be allowed against the taxes imposed in chapter 422, subchapters II , III , and V , and in chapter 432 , and against the moneys and credits tax imposed in section 533.329 , for a portion of a taxpayer’s equity investment, as provided in subs…

1. a. The authority shall develop a system for the application, review, registration, and authorization of projects awarded tax credits pursuant to this part and shall control the issuance of all tax credit certificates to investors pursuant to this part . b. The authority shall …

This part shall be known as the “Iowa Strategic Infrastructure” program. 92 Acts, ch 1244, §16 ; 2014 Acts, ch 1124, §14, 25

The purpose of this part shall be to provide a mechanism for the funding of programs which meet the descriptions provided in section 15.313, subsection 2 . 92 Acts, ch 1244, §17 ; 2002 Acts, ch 1041, §1

1. a. The authority shall establish a fund pursuant to section 15.106A, subsection 1 , paragraph “o” , for purposes of financing strategic infrastructure projects as described in this section . A fund established for purposes of this section may be administered as a revolving fun…

This part shall be known and may be cited as the “Renewable Chemical Production Tax Credit Program” . 2016 Acts, ch 1065, §4, 15, 16 Referred to in §2.48 , 15.322 For future repeal of this section effective July 1, 2039, see §15.322

As used in this part, unless the context otherwise requires: 1. “Biobased content percentage” means, with respect to any renewable chemical, the amount, expressed as a percentage, of renewable organic material present as determined by testing representative samples using the Amer…

To be eligible to receive the renewable chemical production tax credit pursuant to the program, a business shall meet all of the following requirements: 1. The business is physically located in this state. 2. The business is operated for profit and under single management. 3. The…

1. Application. a. An eligible business that produces a renewable chemical in this state from biomass feedstock during a calendar year may apply to the authority for the renewable chemical production tax credit provided in section 15.319 . b. The application shall be made to the …

1. An eligible business that has entered into an agreement pursuant to section 15.318 may claim a tax credit in an amount equal to the product of five cents multiplied by the number of pounds of renewable chemicals produced in this state from biomass feedstock by the eligible bus…

1. For purposes of this section , “successful tax credit applicant” includes, with respect to each calendar year, an eligible business that was issued a tax credit certificate for production of renewable chemicals during that calendar year. 2. By January 31 of each year, the boar…