House File 2333 HOUSE FILE BY FORD Passed House, Date Passed Senate, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to the allocation of a portion of the moneys 2 appropriated to the department of economic development from 3 the grow Iowa values fund for purposes of certain minority 4 owned, operated, and managed businesses. 5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 6 TLSB 6153YH 80 7 tm/gg/14 PAG LIN 1 1 Section 1. 2003 Iowa Acts, First Extraordinary Session, 1 2 chapter 2, section 66, is amended by adding the following new 1 3 subsection: 1 4 NEW SUBSECTION. 8. Of the moneys appropriated in this 1 5 section, the department shall establish a goal of awarding at 1 6 least five percent of the moneys each fiscal year in the form 1 7 of financial assistance to businesses which are at least 1 8 fifty=one percent or more owned, operated, and actively 1 9 managed by one or more minority persons as defined in section 1 10 15.102, subsection 5, and which are located in a city with a 1 11 population that falls within either of the following 1 12 parameters: 1 13 a. At least sixty=two thousand people as shown by the 2000 1 14 certified federal census. 1 15 b. At least twenty=five thousand people but not more than 1 16 twenty=six thousand people as shown by the 2000 certified 1 17 federal census. 1 18 EXPLANATION 1 19 This bill relates to the allocation of a portion of the 1 20 moneys appropriated to the department of economic development 1 21 for fiscal years 2005 through 2007 from the grow Iowa values 1 22 fund for purposes of certain minority owned, operated, and 1 23 managed businesses. 1 24 The bill provides that of the moneys appropriated to the 1 25 department of economic development from the grow Iowa values 1 26 fund for programs administered by the department, the 1 27 department shall establish a goal of awarding at least 5 1 28 percent of the moneys each fiscal year in the form of 1 29 financial assistance to businesses which are at least 51 1 30 percent or more owned, operated, and actively managed by one 1 31 or more minority persons and located in a city meeting certain 1 32 population requirements. 1 33 LSB 6153YH 80 1 34 tm/gg/14 1 35