Iowa Economic Development Authority Amends Regulations on Income, Sales, Excise Tax Credit Programs

The Iowa Economic Development Authority Jan. 1 amended regulations on the Hoover Presidential Library Tax Credit, the Endow Iowa Tax Credit, the Workforce Housing Tax Incentive Program, and the Innovation Fund Investment Tax Credit, for individual income, corporate income, trust income, sales and use, and excise tax purposes. The rules include measures: 1) extending the Hoover Tax Credit to apply to tax years beginning before Jan. 1, 2025; 2) explaining that housing projects located in a 100-year floodplain aren’t eligible to receive workforce housing tax incentives; 3) providing for the approval, issuance, and distribution of investment tax credits; and 4) ...