Workforce housing tax incentives program—housing project completion deadline, 48.5(3)“c”
ARC 4510C
ECONOMIC DEVELOPMENT AUTHORITY[261]
Adopted and Filed
Rule making related to workforce housing tax incentives program
The Economic Development Authority hereby amends Chapter 48, "Workforce Housing Tax Incentives Program," Iowa Administrative Code.
Legal Authority for Rule Making
This rule making is adopted under the authority provided in Iowa Code section 15.106A.
State or Federal Law Implemented
This rule making implements, in whole or in part, Iowa Code section 15.354.
Purpose and Summary
This rule making amends paragraph 48.5(3)"c" to reflect 2018 Iowa Acts, House File 2500. Currently, a housing business must complete the housing project within three years from the date of registration in order to remain eligible for the tax incentives under the program. The amendment allows the Authority discretion to extend the housing project's completion deadline once by up to 12 months upon application by the housing business.
Public Comment and Changes to Rule Making
Notice of Intended Action for this rule making was published in the Iowa Administrative Bulletin on March 27, 2019, as ARC 4353C. No public comments were received. No changes from the Notice have been made.
Adoption of Rule Making
This rule making was adopted by the Economic Development Authority Board on May 17, 2019.
Fiscal Impact
This rule making has no fiscal impact to the State of Iowa.
Jobs Impact
After analysis and review of this rule making, no impact on jobs has been found.
Waivers
Any person who believes that the application of the discretionary provisions of this rule making would result in hardship or injustice to that person may petition the Authority for a waiver of the discretionary provisions, if any, pursuant to 261—Chapter 199.
Review by Administrative Rules Review Committee
The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rule making by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rule making at its regular monthly meeting or at a special meeting. The Committee's meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).
Effective Date
This rule making will become effective on July 24, 2019.
The following rule-making action is adopted:
Amend paragraph 48.5(3)"c" as follows:
c. Housing project completion deadline.
(1)A Except as provided in subparagraph 48.5(3)"c"(2), a housing business shall complete its housing project within three years from the date the housing project is registered by the authority.
(2)The authority may for good cause within the discretion of the authority extend a housing project's completion deadline once by up to 12 months upon application by the housing business, which application shall be made prior to the expiration of the three-year completion deadline in subparagraph 48.5(3)"c"(1) in the manner and form prescribed by the authority.
[Filed 5/28/19, effective 7/24/19]
[Published 6/19/19]
Editor's Note: For replacement pages for IAC, see IAC Supplement 6/19/19.
The official published PDF of this document is available from the Iowa General Assembly’s Administrative Rules page.
View the Iowa Administrative Bulletin for 6/19/2019.
The following administrative rule references were added to this document. You may click a reference to view related notices.
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