Brownfield/Grayfield Tax Credit Program

Category: Iowa State Incentives, Tax Incentives

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.