Iowa § 7C.8 - 7C.8 State ceiling carryforwards.
Full text of Iowa Iowa Code § 7C.8 — 7C.8 State ceiling carryforwards., with citation guidance and answers to common questions.
§ 7C.8. 7C.8 State ceiling carryforwards.
It is the intention of the general assembly that the maximum use be made of all carryforward provisions in the Internal Revenue Code. Therefore, if the aggregate principal amount of bonds, subject to section 146 of the Internal Revenue Code, issued by all political subdivisions in a calendar year is less than the state ceiling for that calendar year, a political subdivision may apply to the governor’s designee for an allocation of a specified portion of the excess state ceiling to be applied to a specified carryforward project. The governor’s designee shall determine the time and manner in which applications for an allocation of excess state ceiling shall be made for this purpose and may, in the designee’s discretion, refuse any requests. However, the procedures for applications, the method of identifying, and the types permitted of carryforward projects shall comply with the carryforward provisions of the Internal Revenue Code and regulations promulgated under those provisions. 85 Acts, ch 225, §10; 87 Acts, ch 171, §8 Referred to in §7C.3, 7C.4, 7C.7, 7C.12 Thu Dec 11 18:20:09 2025 Iowa Code 2026, Section 7C.8 (18, 0)
Frequently Asked Questions About Iowa § 7C.8
What does Iowa Code § 7C.8 cover?
Section 7C.8 ("7C.8 State ceiling carryforwards.") is part of the Iowa Code, the codified statutory law of Iowa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Iowa § 7C.8?
A common citation format is "Iowa Code § 7C.8" (Iowa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Iowa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Iowa official source linked on this page or consult a licensed Iowa attorney.
How does Iowa § 7C.8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Iowa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Iowa.