House Journal: Page 1724: Monday, April 24, 2000
41 eligible business and which receives a partial
42 property tax exemption for the actual value added
43 under section 15.332.
44 1A. An eligible business whose project primarily
45 involves the production of value-added agricultural
46 products, that elects to receive a refund of all or a
47 portion of an unused tax credit, shall apply to the
48 department of economic development for tax credit
49 certificates. An eligible business whose project
50 primarily involves the production of value-added
Page 2
1 agricultural products shall not claim a tax credit
2 under this section unless a tax credit certificate
3 issued by the department of economic development is
4 attached to the taxpayer's tax return for the tax year
5 during which the tax credit is claimed. A tax credit
6 certificate shall not be valid until the tax year
7 following the date of the project completion. A tax
8 credit certificate shall contain the taxpayer's name,
9 address, tax identification number, the date of
10 project completion, the amount of the tax credit,
11 other information required by the department of
12 revenue and finance. The department of economic
13 development shall not issue tax credit certificates
14 which total more than four million dollars during a
15 fiscal year. If the department receives applications
16 for tax credit certificates in excess of four million
17 dollars, the applicants shall receive certificates for
18 a prorated amount. The tax credit certificates shall
19 not be transferred."
20 2. Page 2, line 27, by striking the words "which
21 a" and inserting the following: "which an insurance
22 premium".
23 3. Page 2, line 28, by striking the word "income"
24 and inserting the following: "insurance premium".
25 4. Page 3, by inserting after line 12 the
26 following:
27 "Sec. ___. Section 15E.192, Code 1999, is amended
28 by adding the following new subsection:
29 NEW SUBSECTION. 2A. a. A county may designate an
30 enterprise zone within an area located in one or more
31 contiguous census tracts or other geographic units of
32 the county that meets at least two of the following
33 distress criteria:
34 (1) The area has a per capita income of nine
35 thousand six hundred dollars or less based according
36 to the 1990 census.
37 (2) The area has a family poverty rate of twelve
38 percent or more according to the 1990 census.
39 (3) Ten percent or more of the housing units in
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League of Women Voters of Iowa
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