261—81.3(15) Eligibility requirements. To be eligible to receive the renewable chemical production tax credit pursuant to the program, a business shall meet all of the following requirements:
	81.3(1) Physical location. The business must have a facility that produces renewable chemicals and is physically located in the state of Iowa. If a business has facilities located in more than one state, only those renewable chemicals produced at facilities physically located in the state of Iowa may be counted for the purpose of calculating the tax credit under subrule 81.6(1).
	81.3(2) Operated for profit and under single management. The business must be operated for profit and under single management. For purposes of this rule, “single management” means that if the same eligible business has an ownership or equity interest in multiple facilities at which renewable chemicals are produced, the facilities under common ownership will be considered a single eligible business for purposes of calculating the maximum tax credit amount under rule 261—81.6(15). In calculating the maximum tax credit amount under rule 261—81.6(15), only the pro rata share of each eligible business’s ownership in a facility will be attributed to that eligible business.
	81.3(3) Type of business. The business may not be an entity providing professional services, health care services, or medical treatments and may not be an entity engaged primarily in retail operations.
	81.3(4) Organization. The business must have organized, expanded, or located in the state on or after April 6, 2016.
	81.3(5) Not reducing operations. The business shall not be relocating or reducing operations as described in Iowa Code section 15.329(1)“b” and as determined under the discretion of the authority.
	81.3(6) Compliance. The business must be in compliance with all agreements entered into under this program or other programs administered by the authority.
[ARC 3004C, IAB 3/29/17, effective 5/3/17; ARC 6319C, IAB 5/18/22, effective 6/22/22]