House
File
2063
-
Introduced
HOUSE
FILE
2063
BY
MURPHY
,
HUNTER
,
ISENHART
,
SWAIM
,
KEARNS
,
GASKILL
,
H.
MILLER
,
COHOON
,
STECKMAN
,
and
R.
OLSON
A
BILL
FOR
An
Act
relating
to
small
business
development
by
making
1
an
appropriation
to
match
a
federal
grant
and
including
2
effective
and
retroactive
applicability
date
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5470YH
(5)
84
ad/nh
H.F.
2063
Section
1.
ECONOMIC
DEVELOPMENT
AUTHORITY
——
SMALL
BUSINESS
1
DEVELOPMENT
APPROPRIATION.
2
1.
There
is
appropriated
from
the
general
fund
of
the
state
3
to
the
economic
development
authority
for
the
fiscal
year
4
beginning
July
1,
2011,
and
ending
June
30,
2012,
the
following
5
amount,
or
so
much
thereof
as
is
necessary,
to
be
used
for
the
6
purposes
designated:
7
For
matching
the
federal
grant
for
the
state
small
business
8
credit
initiative:
9
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
$
13,168,350
10
Of
the
moneys
appropriated
in
this
subsection,
$8,000,000,
11
or
so
much
thereof
as
is
necessary,
shall
be
used
for
the
Iowa
12
small
business
loan
program.
13
2.
Notwithstanding
section
8.33,
moneys
appropriated
in
14
this
section
that
remain
unencumbered
or
unobligated
at
the
15
close
of
the
fiscal
year
beginning
July
1,
2011,
and
ending
16
June
30,
2012,
shall
not
revert
but
shall
remain
available
for
17
expenditure
for
the
purposes
designated
until
the
close
of
the
18
succeeding
fiscal
year
beginning
July
1,
2012,
and
ending
June
19
30,
2013.
20
3.
The
economic
development
authority
shall
evaluate
the
21
viability
of
creating
a
state
program
to
match
the
federal
22
capital
access
program.
23
Sec.
2.
EFFECTIVE
UPON
ENACTMENT.
This
Act,
being
deemed
of
24
immediate
importance,
takes
effect
upon
enactment.
25
Sec.
3.
RETROACTIVE
APPLICABILITY.
This
Act
applies
26
retroactively
to
July
1,
2011.
27
EXPLANATION
28
This
bill
appropriates
funds
to
the
economic
development
29
authority
to
match
a
federal
grant
for
the
state
small
business
30
credit
initiative
(SSBCI).
The
bill
appropriates
approximately
31
$13.2
million
to
match
the
federal
grant
for
the
SSBCI.
Of
32
the
state
money
appropriated
for
the
SSBCI,
the
bill
provides
33
that
$8
million
shall
be
used
for
the
Iowa
small
business
loan
34
program.
The
bill
provides
that
the
moneys
appropriated
are
35
-1-
LSB
5470YH
(5)
84
ad/nh
1/
2
H.F.
2063
not
subject
to
reversion
and
remain
available
for
expenditure
1
for
the
purposes
designated
for
the
succeeding
fiscal
year.
2
The
bill
requires
the
economic
development
authority
to
3
evaluate
the
viability
of
creating
a
state
program
to
match
the
4
federal
capital
access
program.
The
bill
is
effective
upon
5
enactment
and
applies
retroactively
to
July
1,
2011.
6
-2-
LSB
5470YH
(5)
84
ad/nh
2/
2