The Iowa Finance Authority (IFA) today (Thursday), announced that eligible first-time Iowa home buyers may purchase a home and reduce their federal income tax liability by up to $2,000 a year for the life of their mortgage. Approximately 400 Iowa home buyers are expected to benefit from the program, which is now available for new purchases through a network of Take Credit Participating Lenders throughout the state.

IFA Executive Director Dave Jamison says “The Take Credit program will provide an additional incentive to first-time Iowa home buyers as we move into the spring home buying season. Hundreds of Iowa families will be able to both realize their dream of homeownership and benefit from a significant reduction in their federal income taxes.”

The program provides eligible home buyers with a tax credit against their federal income tax liability every year for the life of their mortgage. The amount of the tax credit for the 2015 program is set at 50 percent of the mortgage interest paid, up to a maximum of $2,000 per year, for up to 30 years. The remaining mortgage interest may be taken as a deduction from taxable income if the home buyer itemizes.

Eligibility for the Take Credit Program requires home buyers to meet household income and purchase price limitations and meet the definition of a first-time home buyer. The federal income limits vary by county, the limits currently range from $65,300 to $111,300 per year. A purchase price limit of $250,000 applies statewide with the exception of federally Targeted Areas where the limit is $305,000. A first-time home buyer is defined as someone who has not owned their primary residence in the past three years but also includes home buyers purchasing in a federally Targeted Area and military veterans who have not previously financed a home using a tax exempt bond program.

Jamison said  “Interested home buyers can apply for a mortgage credit certificate through a Take Credit Participating Lender as part of their financing process. Home buyers will need to have approval of the mortgage credit certificate before they close on a home so they should ask their lender about this opportunity early in the application process.”  The certificates are available on a first-come first-serve basis and the program will be closed for further reservations once available funding has been exhausted.

More information is available at IowaFinanceAuthority.gov/TakeCredit.

One person was transported to Jennie Edmundson Hospital in Council Bluffs, following a collision this (Thursday) morning in Mills County. The Iowa State Patrol reports 22-year old Terrence Reynolds, Sr., of South Sioux City, NE, who was not wearing a seat belt, was taken by Glenwood Rescue to the hospital, after his 1994 Chevy S-10 pickup hit a 2013 Ford Focus driven by 44-year old Jennifer Rethmeier, of Council Bluffs. Rethmeier was not hurt in the crash.

The accident happened at around 7-a.m. as Reynolds was traveling west on Highway 370 and Rethmeier left the stop sign from the southbound Interstate 29 off-ramp. The woman didn’t see Reynolds’ pickup approaching when she left the controlled intersection to turn onto Highway 370 eastbound.

Three people were arrested over the past week, in Harlan. According to the police report, 26-year old Brittney Dollen, of Harlan, was arrested Sunday, when it was discovered she allegedly altered several checks written by citizens, for the purchase of Girl Scout cookies. Dollen was taken to the Shelby County Jail and charged with six-counts of Forgery.

Last Friday (March 20th), Harlan Police arrested 34-year old Clayton Sorensen, of Harlan, on an OWI charge. Sorensen was also cited for operating a motor vehicle with improper tail lights.

And on March 17th, 30-year old Dane Stevens, of Harlan, was arrested for Public Intoxication and Trespassing. His arrest took place after police investigated a report of a go-cart being driven around the empty lots on Dye Street. Authorities say 33-year old Kylie Stahl, of Harlan, was cited for Trespassing in connection with the incident.

(9-a.m. News)

Three people were arrested Wednesday in Atlantic, two of them on drug charges. Authorities say 20-year old Aaron Cole and 24-year old Joshua Peters, both of Atlantic, face charges that include Possession of a Controlled Substance and Possession of Drug Paraphernalia.

And, 25-year old Marshall Fischer, of Atlantic, was arrested Wednesday on a Cass County warrant for Theft in the 4th Degree, and Driving While Barred. All three men were booked into the Cass County Jail.

(9-a.m. Newscast)

The 8-a.m. Newscast w/KJAN News Director Ric Hanson.

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The 7:06-a.m. report w/KJAN News Director Ric Hanson

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Officials with Wells Fargo announced Wednesday Jay Mendlik has been promoted to senior business relationship manager and vice president for the Business Banking team serving customers in both Denison and Atlantic. Mendlik, a long time member of the Denison business community, works out of Wells Fargo’s Denison location on Mondays, Wednesdays and Fridays. Mendlik covers the Atlantic store location at 600 Chestnut on Tuesdays and Thursdays.

In his new role, Mendlik will continue to serve both business and ag banking customers throughout Western Iowa. A 1998 graduate of University of Nebraska-Omaha, Mendlik started his career with Wells Fargo in 2007 as a business relationship manager in Denison.

The Iowa House has voted unanimously to let the drivers of “rescue vehicles” speed and run stop lights and stop signs, just as police cars, ambulances and fire trucks may in response to an emergency. So what is a rescue vehicle? Representative Sandy Salmon, a Republican from Janesville, explained it’s a motor vehicle equipped with rescue, fire or life-support equipment used to assist or rescue people in emergencies.

The Iowa D-O-T requires the drivers of rescue vehicles to go through the same training as ambulance drivers and fire truck operators. Salmon says when it’s a “matter of life and death” — rescue vehicles play an important role. “This is a good bill that will assist in getting life support equipment to where it is needed in as rapid time as is safely possible,” Salmon says.

The bill, which passed the House Wednesday, now goes to the Senate for consideration. The Iowa D-O-T is the agency that determines if a vehicle can be licensed as a rescue vehicle. To qualify, a vehicle must have at least 75-hundred dollars of equipment that would be exclusively used for rescues and emergencies.

(Radio Iowa)

A woman from Villisca suffered minor injuries during a collision Wednesday afternoon, in Red Oak. Authorities say 60-year old Janice Robinson was transported by Red Oak Rescue to the Montgomery County Memorial Hospital, after the 2003 Ford Explorer she was driving was rear-ended by a 2003 Chevy Suburban. The accident happened at around 4:35-p.m., on Highway 34 at the entrance road to Senate Avenue next to the Red Coach Inn.

Officials say Robinson, and the driver of the Suburban, 55-year old Ronda Woods, of Red Oak, were traveling west on Highway 34, when Robinson signaled to turn onto Senate Avenue and began to brake for the turn. The SUV sustained minor damage, estimated at $2,000. The Chevy sustained $7,000 damage, and was declared a total loss. Woods was cited by Red Oak Police for Following too closely.

A truck driver from Kansas was injured early this (Thursday) morning when his rig rolled into a ditch off of Interstate 80 in Pottawattamie County. The Iowa State Patrol says 57-year old Steven Cain, of Wichita, KS, was traveling west on I-80 at around 12:40-a.m., when he noticed the trailer lights on his semi were not working properly.

When Cain attempted to pull over onto the right, westbound shoulder near the 17-mile marker, he pulled too far off the road. The soft ground pulled the 2015 International semi into the ditch, where it rolled onto its side.

Cain, who was wearing his seat belt, was transported by Underwood Rescue to Mercy Hospital in Council Bluffs, where he was being treated for non-life threatening injuries.