Iowa Code
Chapter 15 - ECONOMIC DEVELOPMENT AUTHORITY
Section 15.105 - Economic development authority.

15.105 Economic development authority.
1. The economic development authority is created, and constituted a public instrumentality and agency of the state exercising public and essential governmental functions, to undertake programs which implement economic development policy in the state, and to undertake certain finance programs.
a. (1) The powers of the authority are vested in and shall be exercised by a board of eleven voting members appointed by the governor subject to confirmation by the senate. The voting members shall be comprised of the following:
(a) Two members from each United States congressional district established under section 40.1 in the state.
(b) Three members selected at large.
(2) Of the voting members appointed pursuant to subparagraph (1), the governor shall appoint the following:
(a) One person who is a member of the Iowa innovation council established in section 15.117A.
(b) One person who has professional experience in finance, insurance, or investment banking.
(c) One person who has professional experience in advanced manufacturing.
(d) One person with professional experience in small business development.
(e) One person with professional experience representing the interests of organized labor.
(f) Six persons who are actively employed in the private, for-profit sector of the economy or who otherwise have substantial expertise in economic development.
(3) The governor shall not appoint to the authority board any person who is either the spouse or a relative within the first degree of consanguinity of a serving member of the authority board or the board of directors of the corporation.
b. There shall be four ex officio, nonvoting legislative members consisting of the following:
(1) Two state senators, one appointed by the president of the senate after consultation with the majority leader of the senate and one appointed by the minority leader of the senate from their respective parties.
(2) Two state representatives, one appointed by the speaker and one appointed by the minority leader of the house of representatives from their respective parties.
c. (1) There shall be three ex officio, nonvoting members consisting of the following:
(a) The president of the state board of regents, or the president’s designee.
(b) One person, selected by the Iowa association of independent colleges and universities, who is the president of a private college or university in the state, or that person’s designee.
(c) One person, selected by the Iowa association of community college presidents, who is the president of a community college, or that person’s designee.
(2) A person serving as a designee pursuant to subparagraph (1) shall serve a one-year term as an ex officio member of the authority board.
2. Members of the authority shall be appointed for staggered terms of four years beginning and ending as provided in section 69.19. A person appointed to fill a vacancy shall serve only for the unexpired portion of the term. A member is eligible for reappointment. A member of the authority may be removed from office by the governor for misfeasance, malfeasance, or willful neglect of duty or other just cause, after notice and hearing, unless the notice and hearing is expressly waived in writing. Members of the authority board shall not serve as directors of the corporation.
3. a. Seven voting members of the authority constitute a quorum.
b. The affirmative vote of a majority of the quorum described in paragraph “a” is necessary for any action taken by the authority. The majority shall not include any member who has a conflict of interest and a statement by a member of a conflict of interest shall be conclusive for this purpose.
c. A vacancy in the membership does not impair the right of a quorum to exercise all rights and perform all duties of the authority.
4. Members of the authority are entitled to receive a per diem as specified in section 7E.6 for each day spent in performance of duties as members, and shall be reimbursed for all actual and necessary expenses incurred in the performance of duties as members.
5. Members of the authority and the director shall give bond as required for public officers in chapter 64.
6. Meetings of the authority shall be held at the call of the chairperson or when two members so request.
7. Members shall elect a chairperson and vice chairperson annually, and other officers as they determine, but the director shall serve as secretary to the authority.
8. a. The members of the authority shall develop a strategic plan for economic development in the state.
b. (1) The strategic plan shall identify the authority’s goals for the next calendar year and shall include a set of metrics that will be used to gauge and assess the extent to which the authority achieves those goals. Such metrics shall include, but are not limited to:
(a) The number of net new jobs created in the state.
(b) The average wage and benefit levels for such jobs.
(c) The impact to average household income for Iowa families as a result of the jobs created.
(d) Such other information as the authority or the director deems relevant.
(2) The strategic plan shall be submitted to the general assembly and the governor’s office on or before January 31 of each year.
9. The net earnings of the authority, beyond that necessary to implement the public purposes and programs herein authorized, shall not inure to the benefit of any person other than the state. Upon termination of the existence of the authority, title to all property owned by the authority, including any such net earnings of the authority, shall vest in the state. The state reserves the right at any time to alter, amend, repeal, or otherwise change the structure, organization, programs, or activities of the authority, including the power to terminate the authority, except that no law shall impair the obligation of any contract or contracts entered into by the authority to the extent that any such law would contravene
Article I, section 21, of the Constitution of the State of Iowa
, or Article I, section 10, of the Constitution of the United States.
10. Members of the authority, or persons acting on behalf of the authority while acting within the scope of their agency or employment, are not subject to personal liability resulting from carrying out the powers and duties in this chapter.
11. The authority shall be the successor entity to the economic development board and the department of economic development which are hereby eliminated. The authority shall assume all duties and responsibilities previously assigned to the economic development board and the department of economic development to the extent that such duties and responsibilities are not otherwise assigned by the provisions of this subchapter.
86 Acts, ch 1245, §805; 2011 Acts, ch 118, §5, 89; 2015 Acts, ch 30, §9
Referred to in §7E.5, 15.102, 15.106, 15.107, 15.107B, 15.327, 15B.2, 15C.1, 15C.2, 15E.1, 15E.42, 15E.202, 15F.101, 15H.1A, 260F.2, 404A.1, 470.1, 473.1, 496B.2
Confirmation, see §2.32

Structure Iowa Code

Iowa Code

Title I - STATE SOVEREIGNTY AND MANAGEMENT

Chapter 15 - ECONOMIC DEVELOPMENT AUTHORITY

Section 15.101 - Findings and purpose — collaboration described.

Section 15.102 - Definitions.

Section 15.103 - Economic development board.

Section 15.104 - Duties of the board.

Section 15.105 - Economic development authority.

Section 15.106 - Conflicts of interest.

Section 15.106A - General powers of the authority — legislative findings.

Section 15.106B - Specific program powers — fees.

Section 15.106C - Director — responsibilities.

Section 15.106D - Private activity bonds and notes.

Section 15.106E - Review of authority operations.

Section 15.107 - Bioscience development corporation.

Section 15.107A - Duties and responsibilities of the corporation.

Section 15.107B - Annual reporting requirements.

Section 15.107C - Oversight of corporation.

Section 15.108 - Primary responsibilities.

Section 15.109 - Additional duties.

Section 15.110 - Restrictions relating to councils of governments.

Section 15.111 - Rural development coordination.

Section 15.112 - Farmworks matching funds.

Section 15.113 - Tax lien and delinquency search requirement.

Section 15.114 - Microenterprise development advisory committee.

Section 15.115 - Technology commercialization specialist.

Section 15.116 - Technology commercialization committee.

Section 15.117 - Chief technology officer.

Section 15.117A - Iowa innovation council.

Section 15.118 - Confidentiality of information in financial assistance applications.

Section 15.119 - Aggregate tax credit limit for certain economic development programs.

Section 15.120 - The Iowa energy center.

Section 15.201 - Agricultural marketing program.

Section 15.202 - Grants and gifts.

Section 15.203 - Agricultural products advisory council — duties.

Section 15.204 - Value-added agricultural linked investment loan program — eligibility requirements.

Section 15.221

Section 15.222

Section 15.223

Section 15.224

Section 15.225

Section 15.226

Section 15.227

Section 15.228

Section 15.229

Section 15.230

Section 15.231 - Community catalyst building remediation program — fund.

Section 15.240 - Community microenterprise development organization grant program.

Section 15.241 - Iowa “self-employment loan program”.

Section 15.246 - Case management program.

Section 15.247 - Targeted small business financial assistance program.

Section 15.251 - Industrial new job training program certificates — fee.

Section 15.252 - Rules.

Section 15.261 - Vacant state buildings demolition fund.

Section 15.262 - Vacant state buildings rehabilitation fund.

Section 15.269 - Cogeneration pilot program.

Section 15.271 - Statement of purpose — intent.

Section 15.272 - Statewide welcome center program.

Section 15.273 - Cooperative tourism program.

Section 15.274 - Promotional program for national historic landmarks and cultural and entertainment districts.

Section 15.281

Section 15.282

Section 15.283

Section 15.284

Section 15.285

Section 15.286

Section 15.287

Section 15.288

Section 15.291 - Definitions.

Section 15.292 - Brownfield redevelopment program.

Section 15.293 - Brownfield redevelopment fund.

Section 15.293A - Redevelopment tax credits.

Section 15.293B - Application — registration — agreement.

Section 15.294 - Brownfield redevelopment advisory council.

Section 15.295 - Rules.

Section 15.300 - Findings and intent.

Section 15.301 - Save our small businesses fund and program.

Section 15.311 - Title.

Section 15.312 - Purpose.

Section 15.313 - Strategic infrastructure program — fund.

Section 15.315 - Short title.

Section 15.316 - Definitions.

Section 15.317 - Eligibility requirements.

Section 15.318 - Eligible business application and agreement — maximum tax credits.

Section 15.319 - Renewable chemical production tax credit.

Section 15.320 - Reports to general assembly.

Section 15.321 - Rules.

Section 15.322 - Future repeal.

Section 15.325 - Negotiations — state and local officials — restrictions.

Section 15.326 - Short title.

Section 15.327 - Definitions.

Section 15.329 - Eligible business.

Section 15.330 - Agreement.

Section 15.330A - Maintenance of agreements.

Section 15.331 - New jobs credit from withholding.

Section 15.331A - Sales and use tax refund.

Section 15.331B - Exemption from land ownership restrictions for nonresident aliens.

Section 15.331C - Third-party developer tax credit.

Section 15.332 - Value-added property tax exemption.

Section 15.333 - Investment tax credit.

Section 15.333A - Insurance premium tax credits.

Section 15.334 - Exemption from taxation for machinery, equipment, and computers.

Section 15.334A - Sales and use tax exemption.

Section 15.335 - Research activities credit.

Section 15.335A - Tax incentives.

Section 15.335B - Assistance for certain programs and projects.

Section 15.335C - Wage thresholds for brownfield and grayfield projects and economically distressed areas.

Section 15.336 - Other incentives.

Section 15.337 - Waiver of program qualification requirements.

Section 15.338 - Nuisance property remediation assistance — fund.

Section 15.341 - Workforce development fund program.

Section 15.342 - Purpose.

Section 15.342A - Workforce development fund account.

Section 15.343 - Workforce development fund.

Section 15.344 - Common system — assessment and tracking.

Section 15.345

Section 15.346

Section 15.347

Section 15.348

Section 15.349 - Shelter assistance fund.

Section 15.351 - Short title.

Section 15.352 - Definitions.

Section 15.353 - Housing project requirements.

Section 15.354 - Housing project application and agreement.

Section 15.355 - Workforce housing tax incentives.

Section 15.356 - Rules.

Section 15.361

Section 15.362

Section 15.363

Section 15.364

Section 15.365

Section 15.366

Section 15.367

Section 15.368 - World food prize award and support.

Section 15.371 - Manufacturing 4.0 technology investment program.

Section 15.372

Section 15.373

Section 15.381

Section 15.382

Section 15.383

Section 15.384

Section 15.385

Section 15.386

Section 15.387

Section 15.391 - Short title.

Section 15.392 - Purpose.

Section 15.393 - Film, television, and video project promotion program — tax credits and income exclusion.

Section 15.401 - Renewable fuels.

Section 15.410 - Definitions.

Section 15.411 - Innovative and other business development — internships — technical and financial assistance.

Section 15.412 - Innovation and commercialization development fund.

Section 15.421 - Generation Iowa commission.

Section 15.431 - Downtown loan guarantee program.