Iowa’s Historic Preservation and Cultural and Entertainment District Tax Credit Program Evaluation Study

Jin, Zhong and Michael, Lipsman (2009): Iowa’s Historic Preservation and Cultural and Entertainment District Tax Credit Program Evaluation Study.

Abstract

Executive Summary: Iowa introduced the Historic Preservation and Cultural and Entertainment District (HPCED) Tax Credit Program in 2000. The program allows property owners or developers to claim tax credits equal to 25 percent of qualified rehabilitation costs for eligible historic properties in Iowa. In tax year 2002, the tax credit was made transferable and refundable at a discounted amount. In tax year 2005, the cap of the tax credit was increased to $6.5 million per year. In tax year 2007, the cap of the tax credit was increased to $10 million for fiscal year 2008, $15 million for fiscal year 2009, and $20 million for fiscal year 2010 and subsequent years. In addition, the tax credit was made fully refundable in 2007. The major findings of the study are:...

• Item Type: MPRA Paper
• Language: English
• Keywords: Investment Tax Credit, Tax Policy, State and Local Governement, Public Subsidy
• Subjects: D - Microeconomics > D6 - Welfare Economics > D62 - Externalities; H - Public Economics > H0 - General; H - Public Economics > H4 - Publicly Provided Goods > H43 - Project Evaluation ; Social Discount Rate; H - Public Economics > H7 - State and Local Government ; Intergovernmental Relations > H71 - State and Local Taxation, Subsidies, and Revenue; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location > R33 - Nonagricultural and Nonresidential Real Estate Markets

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