This rulemaking implements 2022 Iowa Acts, House File 2317, sections 6 and 7, which repeal the Iowa geothermal heat pump tax credit for installations occurring after December 31, 2023. This rulemaking also updates the Iowa geothermal heat pump tax credit rates from 5.2 percent to 6 percent of qualifying expenditures for installations in 2022, and from 4.4 percent to 6 percent of qualifying expenditures for installations in 2023, in response to the federal Inflation Reduction Act of 2022.
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