Brownfield/Grayfield Tax Credit Program
The Brownfield/Grayfield Tax Credit Program offers qualifying projects tax credits of up to 24% for qualifying costs of a Brownfield project and 30% if the project meets green building requirements. “Grayfield” is also included in the tax credit program. A Grayfield project (see administrative rules for specific definition) can receive tax credits of up to 12% of qualifying costs and 15% if the project meets green building requirements. Tax credits are available on a first come first served basis, with a maximum tax credit per project of $500,000 and a $5,000,000 maximum for each fiscal year. An audit of qualifying expenses from an independent Iowa certified public accountant is required prior to issuance of all tax credit certificates.
Application
Applications are accepted on a first come first served basis.
For more information, please contact Matt Rasmussen at 515.725.3126.
Additional Resources
- Forms necessary for making your tax credit claim:
To Learn More:
Phone: 515.725.3126
E-mail: brownfields@iowa.gov