Iowa Code 16.78 – Beginning farmer tax credit program — establishment and administration
Current as of: 2023 | Check for updates
|
Other versions
1. A beginning farmer tax credit program is established under the control of the authority.
Terms Used In Iowa Code 16.78
- Authority: means the Iowa finance authority created in section 16. See Iowa Code 16.1
- Powers: means all of the general and specific powers of the authority as provided in this chapter which shall be broadly and liberally interpreted to authorize the authority to act in accordance with the goals of the authority and in a manner consistent with the legislative findings and guiding principles. See Iowa Code 16.1
- Program: means any program administered by the authority or any program in which the authority is directed or authorized to participate pursuant to any statute, executive order, or interagency agreement, or any other program participation or administration of which the authority finds useful and convenient to further the goals and purposes of the authority. See Iowa Code 16.1
2. The authority and the department shall cooperate in administering the program. The department shall have all rulemaking powers necessary to administer its responsibilities under this subpart as it does under chapter 422.
3. To every extent practicable, the authority shall administer the program in a manner that encourages participation by eligible taxpayers and qualifying beginning farmers for the primary purposes of providing beginning farmers access to farmland and enhancing the stability of the beginning farmer’s farming business.
4. The authority and the department shall each adopt rules in accordance with chapter 17A as necessary for the administration of their respective responsibilities under this subpart. The eligibility requirements for taxpayers and the qualifications for beginning farmers as provided in the rules shall not be more stringent than provided in this subpart.
5. The authority shall provide for the preparation or revision and publication or distribution of forms necessary to administer their responsibilities under this subpart.