Iowa Admin. Code r. 261-43.4

Current through Register Vol. 47, No. 13, December 25, 2024

Rule 261-43.4 - Tax credit limitations

(1) The aggregate amount of tax credits authorized for the program shall not exceed a total of $5 million.

(2) The maximum amount of tax credits granted to any one person shall not exceed $250,000.

(3) Ten percent of the aggregate amount of tax credits authorized, or $500,000, shall be reserved for those donations in amounts of $30,000 or less. If any portion of the reserved tax credits has not been distributed by September 1, 2023, the remaining reserved tax credits shall be available after September 1, 2023, to any other eligible person.

Iowa Admin. Code r. 261-43.4

Adopted by IAB December 15, 2021/Volume XLIV, Number 12, effective 11/19/2021