404A.1 - HISTORIC PRESERVATION AND CULTURAL AND ENTERTAINMENT DISTRICT TAX CREDIT -- ELIGIBLE PROPERTY.
404A.1 HISTORIC PRESERVATION AND CULTURAL AND ENTERTAINMENT DISTRICT TAX CREDIT -- ELIGIBLE PROPERTY. 1. A historic preservation and cultural and entertainment district tax credit, subject to the availability of the credit, is granted against the tax imposed under chapter 422, division II, III, or V, or chapter 432, for the rehabilitation of eligible property located in this state as provided in this chapter. Tax credits in excess of tax liabilities shall be refunded or credited as provided in section 404A.4, subsection 3. 2. Eligible property for which a taxpayer may receive the historic preservation and cultural and entertainment district tax credit computed under this chapter includes all of the following: a. Property listed on the national register of historic places or eligible for such listing. b. Property designated as of historic significance to a district listed in the national register of historic places or eligible for such designation. c. Property or district designated a local landmark by a city or county ordinance. d. A barn constructed prior to 1937.
Section Hisy: Recent Form 2000 Acts, ch 1194, §3, 20; 2002 Acts, ch 1003, §1, 5; 2005 Acts, ch 150, §20, 21; 2007 Acts, ch 165, §1, 9 Referred to in § 404A.4, 422.11D, 422.33, 422.60, 432.12A
Footnotes 2007 amendment to subsection 1 applies to historic preservation and cultural and entertainment district tax credits applied for or reserved prior to July 1, 2007; 2007 Acts, ch 165, §9