Iowa Admin. Code r. 261-406.5

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 261-406.5 - Eligible and ineligible projects

(1) A proposed project must meet the following criteria to be eligible for a loan under this program:

a. The project shall be located in Iowa or be for the primary use or benefit of Iowans. If any portion of the project is located outside of Iowa, the applicant bears the burden of demonstrating that the project as a whole will be for the primary use or benefit of Iowans.

b. The project shall develop energy infrastructure as defined in Iowa Code section 476.46A(3)"a" as enacted by 2021 Iowa Acts, Senate File 619, section 33.

c. The borrower shall be the owner, contract purchaser, lessee, or other interest holder of the real property where the project is located.

(2) A project that generates energy for use only at a borrower's personal residence is not an eligible project.

Iowa Admin. Code r. 261-406.5

Adopted by IAB October 20, 2021/Volume XLIV, Number 8, effective 9/30/2021