Iowa SF139 expands eligibility for redevelopment tax credits and funding assistance for abandoned buildings.

Iowa SF139 amends the redevelopment tax credit program to allow grayfield sites over 50,000 square feet in communities with populations under 30,000 to qualify for a two-year tax credit. It also expands eligibility for funding assistance to cities with populations between 5,000 and 30,000, with a cap of $1 million. The Iowa Economic Development Authority can use the nuisance property remediation assistance fund to provide financial aid for remediation projects, including loans or forgivable loans with a term of 120 to 180 months.

Iowa SF139 expands eligibility for redevelopment tax credits and funding assistance for abandoned buildings.

Iowa SF139 amends the redevelopment tax credit program to allow grayfield sites over 50,000 square feet in communities with populations under 30,000 to qualify for a two-year tax credit. It also expands eligibility for funding assistance to cities with populations between 5,000 and 30,000, with a cap of $1 million. The Iowa Economic Development Authority can use the nuisance property remediation assistance fund to provide financial aid for remediation projects, including loans or forgivable loans with a term of 120 to 180 months.