15E.196 - INCENTIVES -- ASSISTANCE. - Iowa Statutes

15E.196 INCENTIVES -- ASSISTANCE. For purposes of determining the incentives or assistance provided in this section, "eligible business" means a business which has been approved to receive incentives and assistance by the department of economic development pursuant to application as provided in section 15E.195. The incentives and assistance provided under this division for businesses located in enterprise zones shall be for a period not to exceed ten years and shall include all of the following: 1. New jobs credit from withholding, as provided in section 15E.197. 2. Sales, services, and use tax refund, as provided in section 15.331A. 3. Investment tax credit of up to ten percent, as provided in section 15.333. 4. Research activities credit, as provided in section 15.335. 5. The county or city for which an eligible enterprise zone is certified may exempt from all property taxation all or a portion of the value added to the property upon which an eligible business locates or expands in an enterprise zone and which is used in the operation of the eligible business. The amount of value added for purposes of this subsection shall be the amount of the increase in assessed valuation of the property following the location or expansion of the business in the enterprise zone. If an exemption provided pursuant to this subsection is made applicable to only a portion of the property within an enterprise zone, the definition of that subset of eligible property must be by uniform criteria which further some planning objective established by the city or county enterprise zone commission and approved by the eligible city or county. The exemption may be allowed for a period not to exceed ten years beginning the year the eligible business enters into an agreement with the county or city to locate or expand operations in an enterprise zone. 6. Insurance premium tax credit of up to ten percent, as provided in section 15.333A.          Section History: Recent Form 97 Acts, ch 144, §6; 98 Acts, ch 1175, §13; 98 Acts, ch 1179, §3; 99 Acts, ch 172, §2; 2001 Acts, ch 141, §7, 8; 2003 Acts, ch 145, §286; 2004 Acts, ch 1003, §10, 12; 2005 Acts, ch 150, §52, 53, 68, 69; 2009 Acts, ch 179, §104 Referred to in § 15.119, 15E.192, 15E.193, 15E.193B, 15E.194, 15E.195 For aggregate limitations on amount of tax credits, see §15.119          Footnotes 2005 amendments to this section apply to tax years ending on or after July 1, 2005; continuation of contracts under new jobs and income program; 2005 Acts, ch 150, §68, 69