ARC 4990C

ARC 4990C

ECONOMIC DEVELOPMENT AUTHORITY[261]

Adopted and Filed

Rule making related to rescinding the sunset date for

the targeted jobs withholding tax credit program

The Economic Development Authority hereby amends Chapter 71, "Targeted Jobs Withholding Tax Credit 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 403.19A.

Purpose and Summary

This adopted amendment rescinds the sunset date for the Targeted Jobs Withholding Tax Credit Program. This sunset date is also found in Iowa Code section 403.19A(3)"c"(2). Because the sunset date has been amended legislatively and may be extended again in the near future, rescinding paragraph 71.4(2)"e" will prevent confusion and conflict between the Iowa Code and these rules.

Public Comment and Changes to Rule Making

Notice of Intended Action for this rule making was published in the Iowa Administrative Bulletin on November 6, 2019, as ARC 4737C. No public comments were received. No changes from the Notice have been made.

Adoption of Rule Making

This rule making was adopted by the Authority on December 20, 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 April 15, 2020.

The following rule-making action is adopted:

Amend subrule 71.4(2) as follows:

71.4(2) Entering into a withholding agreement.

a. to d. No change.

e. Sunset date. A pilot project city and the authority shall not enter into a withholding agreement with a business after June 30, 2019.

f. e.Board approval of withholding agreements. Prior to entering into a withholding agreement with a business, a pilot project city shall request board approval of the withholding agreement. The process for requesting approval from the board is described in subrule 71.5(1).

[Filed 2/12/20, effective 4/15/20]

[Published 3/11/20]

Editor's Note: For replacement pages for IAC, see IAC Supplement 3/11/20.