15.335B Assistance for certain programs and projects.
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 moneys appropriated to the authority for purposes of this section, or moneys otherwise accruing to the authority and deposited in the fund for purposes of this section.
c. Interest or earnings on moneys in a fund used for the purposes of this section, and all repayments or recaptures of the assistance provided under this section, shall accrue to the authority and shall be used for purposes of this section, notwithstanding section 12C.7. Moneys in a fund are not subject to section 8.33.
2. a. The moneys in a fund established for purposes of this section, as described in subsection 1, shall be allocated by the authority in appropriate amounts to be used for the following purposes:
(1) For providing project completion assistance to eligible businesses under this part and for program support of such assistance.
(2) For providing economic development region financial assistance under section 15E.232, subsections 1, 3, 4, 5, and 6.
(3) For providing financial assistance for business accelerators pursuant to section 15E.351.
(4) For deposit in the innovation and commercialization fund created pursuant to section 15.412.
(5) For providing financial assistance to businesses engaged in disaster recovery.
(6) For deposit in the entrepreneur investment awards program fund pursuant to section 15E.363.
(7) For deposit in a fund created for purposes of the strategic infrastructure program established pursuant to section 15.313.
(8) For deposit in the nuisance property remediation fund created pursuant to section 15.338.
(9) For deposit in the community catalyst building remediation fund established pursuant to section 15.231.
b. Each fiscal year, the authority shall estimate the amount of revenues available for purposes of this section and shall develop a budget appropriate for the expenditure of the revenues available.
3. In providing assistance under this section, the authority shall make a determination as to the amount and type of assistance that is most appropriate for facilitating the successful completion of an eligible business’s project. Before making such a determination, the authority shall do all of the following:
a. Consider a business’s eligibility for the tax incentives available under section 15.335A and ensure that the amount of assistance to be provided appropriately complements the amount and type of tax incentives to be provided.
b. Consider the amount of private sector investment to be leveraged by the project, including the eligible business’s equity investment, debt financing, and any venture capital or foreign investment available, and make a good-faith effort to provide only the amount of incentives and assistance necessary to facilitate the project’s successful completion.
c. Consider the amount and type of the local community match. The authority may provide assistance to an early-stage business in a high-growth industry regardless of the amount of local match involved.
d. Calculate the fiscal impact ratio of the project and use it to guide the provision of incentives and assistance under this part.
e. Evaluate the quality of the project based on the factors described in section 15.329, subsection 3, and any other relevant factors.
f. Ensure that the combined amount of incentives and assistance are appropriate to the size of the project, to the value of the project, to the fiscal impact ratio of the project, and to any other relevant factors.
4. Each eligible business receiving assistance under this section shall enter into an agreement with the authority and the agreement shall meet the requirements of sections 15.330 and 15.330A.
2012 Acts, ch 1126, §13; 2014 Acts, ch 1124, §21, 25; 2015 Acts, ch 136, §47, 54, 55; 2016 Acts, ch 1135, §15
Referred to in §15.119, 15.327, 15.330, 15E.231, 15E.232, 15E.233, 15E.351, 159A.6B, 266.19, 455B.104
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 15 - ECONOMIC DEVELOPMENT AUTHORITY
Section 15.101 - Findings and purpose — collaboration described.
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 15.231 - 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 15.261 - 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 15.292 - 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 15.300 - Findings and intent.
Section 15.301 - Save our small businesses fund and program.
Section 15.313 - Strategic infrastructure program — fund.
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 15.322 - Future repeal.
Section 15.325 - Negotiations — state and local officials — restrictions.
Section 15.329 - Eligible business.
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 15.336 - 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 15.342A - Workforce development fund account.
Section 15.343 - Workforce development fund.
Section 15.344 - Common system — assessment and tracking.
Section 15.349 - Shelter assistance fund.
Section 15.353 - Housing project requirements.
Section 15.354 - Housing project application and agreement.
Section 15.355 - Workforce housing tax incentives.
Section 15.368 - World food prize award and support.
Section 15.371 - Manufacturing 4.0 technology investment program.
Section 15.401 - Renewable fuels.
Section 15.412 - Innovation and commercialization development fund.