701—601.10(404A,422) Historic preservation and cultural and entertainment district tax credit. For tax years beginning on or after January 1, 2001, a historic preservation and cultural and entertainment district tax credit, subject to the availability of the credit, may be claimed against a taxpayer’s Iowa franchise tax liability for 25 percent of the qualified rehabilitation costs to the extent the costs were incurred for the rehabilitation of eligible property in Iowa. For information related to projects with Part 2 applications approved and tax credits reserved prior to July 1, 2014, see rule 701—501.18(404A,422). For information related to projects registered on or after July 1, 2014, and before August 15, 2016, see rule 701—501.47(404A,422). For information related to projects registered on or after August 15, 2016, see rule 701—501.48(404A,422). For projects registered before August 15, 2016, see also the administrative rules for the historic preservation and cultural and entertainment district tax credit for the historical division of the department of cultural affairs under 223—Chapter 48. For projects registered on or after August 15, 2016, see also the administrative rules for the historic preservation and cultural and entertainment district tax credit for the economic development authority under 261—Chapter 49.
This rule is intended to implement Iowa Code chapter 404A as amended by 2016 Iowa Acts, House File 2443, and Iowa Code section 422.60.
[ARC 1968C, IAB 4/15/15, effective 5/20/15; ARC 2928C, IAB 2/1/17, effective 3/8/17; Editorial change: IAC Supplement 11/2/22; Editorial change: IAC Supplement 10/18/23]