Iowa HF2801 modifies the major economic growth attraction program, adjusting tax credits for businesses in rural counties and setting repayment terms.

Iowa HF2801 modifies the major economic growth attraction program by changing tax incentives for businesses in rural counties. The bill defines a rural county as one with a population of 50,000 or less. It allows the economic development authority to authorize a tax credit for a business that is up to 10 percent of the business's qualifying investment. The bill sets out requirements for the transferability of a tax credit certificate, including the transferee submitting the tax credit to the department of revenue within 90 days of the transfer along with the transferee's name and tax.

Iowa HF2801 modifies the major economic growth attraction program, adjusting tax credits for businesses in rural counties and setting repayment terms.

Iowa HF2801 modifies the major economic growth attraction program by changing tax incentives for businesses in rural counties. The bill defines a rural county as one with a population of 50,000 or less. It allows the economic development authority to authorize a tax credit for a business that is up to 10 percent of the business's qualifying investment. The bill sets out requirements for the transferability of a tax credit certificate, including the transferee submitting the tax credit to the department of revenue within 90 days of the transfer along with the transferee's name and tax.