Iowa Code Title I. State Sovereignty and Management [Chs. 1-38D] § 15.507. Sales and use tax refund

a. The contractor or subcontractor shall state under oath, on forms provided by the department of revenue, the amount of the sales of tangible personal property or services rendered, furnished, or performed including water, sewer, gas, and electric utility services upon which sales or use tax has been paid during the period for which the refund is claimed, and shall submit the forms to the eligible business before contract completion.

b. The eligible business shall, no more frequently than quarterly, submit an application to the department of revenue for a refund of the amount of the sales and use taxes paid pursuant to chapter 423 upon any tangible personal property, or services rendered, furnished, or performed, including water, sewer, gas, and electric utility services.  The application shall be submitted in the form and manner prescribed by the department of revenue.  The department of revenue shall audit the application and, if approved, issue a warrant or warrants to the eligible business in the amount of the sales or use tax which has been paid to the state of Iowa under subsection 1.  The eligible business's final application must be submitted to the department of revenue within one year after the project completion date.  An application filed by the eligible business in accordance with this section shall not be denied by reason of a time limitation for filing a refund claim set forth in section 423.47.

c. The refund shall be remitted by the department of revenue to the eligible business as soon as practicable after completion of the audit pursuant to paragraph “b”.  Interest shall not accrue on any part of the refund that has not yet been remitted by the department of revenue to the eligible business.