15E.196 - INCENTIVES -- ASSISTANCE.
15E.196 INCENTIVES -- ASSISTANCE.
For purposes of determining the incentives or assistance provided
in this section, "eligible business" means a business which has
been approved to receive incentives and assistance by the department
of economic development pursuant to application as provided in
section 15E.195. The incentives and assistance provided under this
division for businesses located in enterprise zones shall be for a
period not to exceed ten years and shall include all of the
following:
1. New jobs credit from withholding, as provided in section
15E.197.
2. Sales, services, and use tax refund, as provided in section
15.331A.
3. Investment tax credit of up to ten percent, as provided in
section 15.333.
4. Research activities credit, as provided in section 15.335.
5. The county or city for which an eligible enterprise zone is
certified may exempt from all property taxation all or a portion of
the value added to the property upon which an eligible business
locates or expands in an enterprise zone and which is used in the
operation of the eligible business. The amount of value added for
purposes of this subsection shall be the amount of the increase in
assessed valuation of the property following the location or
expansion of the business in the enterprise zone. If an exemption
provided pursuant to this subsection is made applicable to only a
portion of the property within an enterprise zone, the definition of
that subset of eligible property must be by uniform criteria which
further some planning objective established by the city or county
enterprise zone commission and approved by the eligible city or
county. The exemption may be allowed for a period not to exceed ten
years beginning the year the eligible business enters into an
agreement with the county or city to locate or expand operations in
an enterprise zone.
6. Insurance premium tax credit of up to ten percent, as provided
in section 15.333A. Section History: Recent Form
97 Acts, ch 144, §6; 98 Acts, ch 1175, §13; 98 Acts, ch 1179, §3;
99 Acts, ch 172, §2; 2001 Acts, ch 141, §7, 8; 2003 Acts, ch 145,
§286; 2004 Acts, ch 1003, §10, 12; 2005 Acts, ch 150, §52, 53, 68,
69; 2009 Acts, ch 179, §104
Referred to in § 15.119, 15E.192, 15E.193, 15E.193B, 15E.194,
15E.195
For aggregate limitations on amount of tax credits, see §15.119 Footnotes
2005 amendments to this section apply to tax years ending on or
after July 1, 2005; continuation of contracts under new jobs and
income program; 2005 Acts, ch 150, §68, 69