619138 - Redevelopment Tax Credit

The Iowa Economic Development Authority’s Redevelopment Tax Credit Program provides tax‑credit incentives to developers who revitalize brownfield or grayfield sites. Eligible projects can receive a credit equal to a percentage of qualifying costs (up to 30 % for sustainable brownfield projects) with a maximum award of $1.5 million per project. The program is competitive, requires registration on IowaGrants.gov, and applications must be submitted by September 1, 2026. Applicants must control the site at the time of application and meet specific eligibility criteria for grayfield or brownfield status. No refund is available, but credits may be transferred or carried forward. • Credit rates: up to 12 % (grayfield), 15 % (grayfield + sustainable), 24 % (brownfield), 30 % (brownfield + sustainable). • Total FY 2026 funding: $15 million; max $1.5 million per project. • Eligible applicants: individuals, LLCs, S‑corps, nonprofits, estates, trusts (not municipalities). • Application must be completed via IowaGrants.gov; no amendments after submission.