An eligible taxpayer that has entered into and complied with an
agreement under Iowa Code section
404A.3(3) and has complied with the program statute
and rules is eligible to claim a historic preservation and cultural and
entertainment district tax credit of 25 percent of the qualified rehabilitation
expenditures of a qualified rehabilitation project that are specified in the
agreement. Notwithstanding any other provision in Iowa Code chapter 404A, this
chapter, or any provision in the agreement to the contrary, the amount of the
tax credits shall not exceed 25 percent of the final qualified rehabilitation
expenditures verified by the department pursuant to Iowa Code section
404A.3(5)
"c."
This rule is intended to implement Iowa Code section
404A.2
as amended by 2014 Iowa Acts, House File 2453.
Notes
Iowa Admin. Code r. 223-48.23
Adopted by
IAB
April 15, 2015/Volume XXXVII, Number 21, effective
5/20/2015
