For purposes of this chapter unless the context otherwise
requires:
"Account" means the district account that is
created within the fund for each municipality which has established a district
and that holds the new tax revenues deposited by the department under the
program. Moneys in each account will be remitted quarterly by the department to
the municipality pursuant to the department of revenue's rules in 701-Chapter
237.
"Applicant" means a municipality applying to
the board and the authority for approval of a district under the program,
including the preapplication process described in rule
261-200.4 (15J).
"Appurtenant structure " means any building
or other fixture on a piece of real estate other than the main building
provided that such a building or fixture is permanent, is wholly or partially
above grade, and will be constructed or substantially improved in conjunction
with the main building. A structure is appurtenant when the structure is
physically connected to a main building such that the connected structures
combine to create a single, integrated facility. A structure is not physically
connected if the structure has a function or purpose independent of the main
building, even if the structures are in close proximity or are incidentally
connected by some means such as a common wall, a sidewalk, or recreational
trail.
"Authority" means the economic development
authority created in Iowa Code section
15.105.
"Board" means the members of the economic
development authority appointed by the governor and in whom the powers of the
authority are vested pursuant to Iowa Code section
15.105.
"Commencement date " means the date
established for each district by the board pursuant to rule
261-200.7 (15J) upon which the
calculation of new state sales tax and new state hotel and motel tax revenue
shall begin pursuant to rule
701-237.3 (15 J) and after which
the department will make deposits in the fund pursuant to rule
701-237.4 (15J).
"Department" means the department of
revenue.
"Director " means the director of the
authority.
"District" means the area that is designated
a reinvestment district under the program. For purposes of this chapter, a
district is designated during the application and approval process but is not
created until it has both received the final approval of the board pursuant to
rule 261-200.7 (15 J) and been
established by ordinance or resolution of the municipality as described in rule
261-200.8 (15 J).
"Due diligence committee " means the due
diligence committee of the board established pursuant to 261-subrule
1.3(7).
"Fund" means the state reinvestment district
fund created in Iowa Code section
15J.6,
consisting of new tax revenues, and under the control of the department.
"Governing body" means the county board of
supervisors, city council, or other governing body in which the legislative
powers of the municipality are vested.
"Joint board" means a legal entity
established or designated in an agreement between two or more contiguous
counties or incorporated cities pursuant to Iowa Code chapter 28E.
"Maximum benefit amount" means the total
amount of new tax revenues that may be remitted to a municipality's
reinvestment project fund and used for development in a district. The maximum
benefit will be established by the board when a final application to the
program is approved pursuant to rule
261-200.7 (15J).
"Municipality" means a county, an
incorporated city, or a joint board.
"New lessor" means a lessor, as defined in
Iowa Code section
423A.2, operating a
business in the district that was not in operation in the area of the district
before the effective date of the ordinance or resolution establishing the
district, regardless of ownership. "New lessor" also includes any lessor, as
defined in Iowa Code section 423 A.2, operating a business in the district if
the place of business for that business is the subject of a project that was
approved by the board.
"New retail establishment" means a business
operated in the district by a retailer, as defined in Iowa Code section
423.1, that was not
in operation in the area of the district before the effective date of the
ordinance or resolution establishing the district, regardless of ownership.
"New retail establishment" also includes any business operated in the district
by a retailer, as defined in Iowa Code section
423.1, if the place
of business for that retail establishment is the subject of a project that was
approved by the board.
"New tax revenues " means all state sales
tax revenues and state hotel and motel tax revenues that are collected within a
district by new retail establishments and new lessors, provided that such new
retail establishments and lessors are included as projects in an approved
district plan. New tax revenues are remitted to the department after collection
by new retail establishments and new lessors and deposited by the department in
a fund for use by a municipality under the program.
"Program " means the reinvestment district
program established pursuant to this chapter.
"Project" means a vertical improvement
constructed or substantially improved within a district using new tax revenues.
"Project" does not include any of the following:
1. A building, structure, or other facility that is in whole
or in part used or intended to be used to conduct gambling games under Iowa
Code chapter 99F.
2. A building, structure, or other facility that is in whole
or in part used or intended to be used as a hotel or motel if such hotel or
motel is connected to or operated in conjunction with a building, structure, or
other facility described in paragraph "1" above.
"Retail business " means any business
engaged in the business of selling tangible personal property or taxable
services at retail in this state that is obligated to collect state sales or
use tax under Iowa Code chapter 423. However, for the purposes of this chapter,
"retail business" does not include a new lessor or a business engaged in an
activity subject to tax under Iowa Code section
423.2(3).
"State hotel and motel tax" means the
state-imposed tax under Iowa Code section 423 A.3.
"State sales tax" means the sales and
services tax imposed pursuant to Iowa Code section
423.2.
"Substantially improved" means that the cost
of the improvements to a project is equal to or exceeds 50 percent of the
assessed value of the property, excluding the land, prior to such
improvements.
"Unique nature" means a quality or qualities
of the projects to be developed in a district which, when considered in the
entirety, will substantially distinguish the district's projects from other
existing or proposed developments in the state. For purposes of this chapter,
whether a project is of a unique nature is a subjective and contextual
determination that will be made by the board. In determining whether a project
is of a unique nature, the board will not necessarily require a project to be
entirely without precedent or to be the only one of its kind in the state, but
rather the board will evaluate whether the projects to be undertaken in a
district will either (1) permanently transform the aesthetics or infrastructure
of a local community for the better, including by preserving important
historical structures or neighborhoods; or (2) contribute substantially more to
the state's economy or quality of life than other similar projects in the
state.
"Vertical improvement" means a building that
is wholly or partially above grade and all appurtenant structures to the
building.
