Amendment H-1214 to HF 768
Relating to agricultural development, by providing for the Iowa finance authority, a beginning farmer tax credit program, fees, and including effective date and retroactive applicability provisions. Effective 5-21-19
Withdrawn · April 24, 2019
Filed April 15, 2019 in the House by
What it changes
- Page 2, by striking lines 6 through
- Page 2, by striking lines 23 through
- Page 12, line 34, by striking “estimated”
- Page 13, by striking lines 1 and 2 and inserting: “
- The amount of tax credits that may be awarded to an eligible taxpayer for any one year under all agreements shall not exceed fifty thousand dollars.”
- By striking page 13, line 33, through page 14, line 15, and inserting: “
- a. The authority shall calculate the total amount of the tax credits for each pending application as provided in section 16.82. For purposes of this subsection, the total amount of the tax credits equals the sum of all amounts of tax credits for all tax years based on the term of the agricultural lease agreement as provided in section 16.79A. b. The sum of the tax credit amounts calculated under paragraph “a” for all applications approved by the authority in the current application year shall not exceed twelve million dollars.
- a. After an application is approved, the authority shall issue tax credit certificates to each eligible taxpayer not later than December 15 of each year in the amount calculated in section 16.82 for each year of the agreement until the agreement expires or is terminated.”
- By renumbering, redesignating, and correcting internal references as necessary.