Accomplishments

2016
  • Initiated and led the charge for passage of HF2412 that amended the SHTC program to provide for the transfer of administration of the SHTC program from DCA to the Iowa Economic Development Authority.

  • Worked with IDR and DCA to assist them in the proper application of SHTC provisions.

  • Helped IDR and DCA clarify IRS case law guidance resulting in the proper interpretation of Internal Revenue Code Section 47 as it relates to the inclusion of government grants in tax basis, thereby allowing them to be included in calculating Qualified Rehabilitation Expenses for SHTC projects.

2015
  • Led efforts to work with Department of Cultural Affairs (DCA), Iowa Department of Revenue (IDR) and the Iowa Attorney General’s office to correct administrative rules incorrectly written in response to HF2453.

  • Coordinated a letter writing campaign for lenders active in projects that utilize the SHTC program to express their concerns with the status of the SHTC program.

  • Worked with DCA, IDR and the Attorney General’s office to revise the proposed form HPCED Tax Credit Agreement.

2014
  • Initiated and led the charge for passage of HF2453 that changed the allocation of SHTC awards from a lottery system to a readiness-based scoring system.

2013
  • Coordinated the successful lobbying effort on SF436.

  • Increased the QRE Cap for small projects from $500,000 to $750,000.

  • Projects that incur 50% of QRE’s within standard 60-month timeline are granted a 12month extension.

  • Changed the definition of “substantial rehabilitation” on a commercial property to; at least fifty thousand dollars or fifty percent of the assessed value.

  • Retained program cap at $45 million a year.

2012
  • Spearheaded the effort to pass legislation allowing for the Disproportionate Allocation of SHTC’s.

  • Defended against damaging changes to Iowa’s Tax Increment Financing program. 

2011
  • Initiated and advocated for the passage of SF-521, which enacts administrative changes to the SHTC.

  • Additional 24 months to line up financing and complete construction/redevelopment.

  • Eliminates $100,000 cap in rehabilitation cost per residential unit .

  • Changes QRE period to when the first qualified cost is incurred and ending with the end of the taxable year in which the property is placed in service.

  • Defended the SHTC program from further budget cuts.

2010
  • Defended the SHTC program against changes to refundability and transferability.

  • Led the push for the creation of a state level workforce housing grant program.

  • Worked in collaboration with City and County organizations to block harmful modifications to the TIF program.

2009
  • Raised cap of Iowa’s Historic Tax Credit Program from $20M to $50M.

  • Advocated for the creation and passage of the Federal Heartland Disaster Bill, which increased the FHTC from 20% to 26% for qualifying projects.  

  • Improved SHTC program rules dealing with “Lottery” method.

2021
  • We continued to advocate for the Federal and Iowa State Historic Tax Credit programs and were successful in retaining both programs without any changes.

2020
  • Our advocacy was instrumental in preventing HSB 670 from passing in the Iowa Legislature. The bill would have amended the Iowa Historic Preservation Tax Credit program to make homeowner-occupied residential property and residential property occupied as a personal residence ineligible for the HTC program.

  • We worked with state and national partners to advocate for enhancements in federal and state historic tax credit programs to alleviate the economic impacts of the COVID-19 epidemic. Specifically, Smart Growth was instrumental in crafting the provisions of the Federal Historic Tax Credit Growth and Opportunity Act (HTC-GO) that would have increased the Federal HTC to 30% for all projects between the years of 2020 and 2025. 

2018-2019
  • Our economic impact study commissioned in 2017 was instrumental in protecting the Iowa State Historic Preservation Tax Credit from any legislative changes in 2018 and 2019.

2017
  • Led advocacy efforts to assure that the Federal Historic Tax Credit was retained in the Tax Cuts and Jobs Act of 2017. Our advocacy in getting Senator Chuck Grassley's support for the Federal HTC was instrumental in saving the Federal HTC.

  • Retained Baker Tilly accounting firm to complete a statewide economic impact study to illustrate the value of the Iowa State Historic Preservation Tax Credit. The study showed that there was a 5:1 return on investment within 3 years of project completion and a 20:1 return on investment within 10 years of completion.