1. A property rehabilitation tax credit, subject to the availability of the credit, is granted against the tax imposed under chapter 422, division II, III, or V, or chapter 432, for the rehabilitation of eligible property located in this state as provided in this chapter. Tax credits in excess of tax liabilities shall be refunded as provided in section 404A.4, subsection 3.
2. Eligible property for which a taxpayer may receive the property rehabilitation tax credit computed under this chapter includes all of the following:
a. Property listed on the national register of historic places or eligible for such listing.
b. Property designated as of historic significance to a district listed in the national register of historic places or eligible for such designation.
c. Property or district designated a local landmark by a city or county ordinance.
d. A barn constructed prior to 1937.
2000 Acts, ch 1194, §3, 20; 2002 Acts, ch 1003, §1, 5
Section applies to qualified rehabilitation costs incurred on or after July 1, 2000; 2000 Acts, ch 1194, §20
2002 amendment to subsection 1 takes effect February 21, 2002, and applies retroactively to tax years beginning on or after January 1, 2001; 2002 Acts, ch 1003, § 5
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