Iowa Code 15E.62 – Definitions
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As used in this subchapter, unless the context otherwise requires:
1. “Board” means the Iowa capital investment board created in section 15E.63.
Terms Used In Iowa Code 15E.62
- Board: means the Iowa capital investment board created in section 15E. See Iowa Code 15E.62
- Certificate: means a contract between the board and a designated investor pursuant to which a tax credit is available and issued to the designated investor. See Iowa Code 15E.62
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Creditor: means a person, including an assignee of or successor to such person, who extends credit or makes a loan to the Iowa fund of funds or to a designated investor, and includes any person who refinances such credit or loan. See Iowa Code 15E.62
- Designated investor: means a person, other than the Iowa capital investment corporation, who purchases an equity interest in the Iowa fund of funds or a transferee of a certificate or tax credit. See Iowa Code 15E.62
- Iowa capital investment corporation: means a private, nonprofit corporation created pursuant to section 15E. See Iowa Code 15E.62
- Iowa fund of funds: means a private, for-profit limited partnership or limited liability company established by the Iowa capital investment corporation pursuant to section 15E. See Iowa Code 15E.62
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Tax credit: means a contingent tax credit issued pursuant to section 15E. See Iowa Code 15E.62
2. “Certificate” means a contract between the board and a designated investor pursuant to which a tax credit is available and issued to the designated investor.
3. “Creditor” means a person, including an assignee of or successor to such person, who extends credit or makes a loan to the Iowa fund of funds or to a designated investor, and includes any person who refinances such credit or loan.
4. “Designated investor” means a person, other than the Iowa capital investment corporation, who purchases an equity interest in the Iowa fund of funds or a transferee of a certificate or tax credit.
5. “Fund documents” means all agreements relating to matters under the purview of this subchapter VII entered into prior to June 20, 2013, between or among the state, the Iowa fund of funds, a fund allocation manager or similar manager, the Iowa capital investment corporation, the board, a creditor, a designated investor, and a private seed or venture capital partnership, and includes other documents having the same force and effect between or among such parties, as any of the foregoing may be amended, modified, restated, or replaced from time to time.
6. “Iowa capital investment corporation” means a private, nonprofit corporation created pursuant to section 15E.64.
7. “Iowa fund of funds” means a private, for-profit limited partnership or limited liability company established by the Iowa capital investment corporation pursuant to section 15E.65 in which a designated investor purchases an equity interest.
8. “Tax credit” means a contingent tax credit issued pursuant to section 15E.66 that is available against tax liabilities imposed by chapter 422, subchapters II, III, and V, and by chapter 432 and against the moneys and credits tax imposed by section 533.329.