Text: H05447 Text: H05449 Text: H05400 - H05499 Text: H Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN
1 1 Amend the amendment, H-5419, to Senate File 2443,
1 2 as amended, passed, and reprinted by the Senate, as
1 3 follows:
1 4 #1. Page 2, line 42, by inserting after the words
1 5 "fund for" the following: "allocating $222,792 to the
1 6 self-employment loan program for the purposes of the
1 7 microbusiness rural enterprise assistance program
1 8 under section 15.114 and for".
1 9 #2. Page 12, by inserting after line 45, the
1 10 following:
1 11 "Sec. . NEW SECTION. 15.114 MICROBUSINESS
1 12 RURAL ENTERPRISE ASSISTANCE.
1 13 1. As used in this section:
1 14 a. "Department" means the department of economic
1 15 development.
1 16 b. "Microbusiness" or "microbusiness enterprise"
1 17 means a business producing services with five or fewer
1 18 full-time equivalent employee positions and with
1 19 assistance requirements of not more than twenty-five
1 20 thousand dollars.
1 21 c. "Microbusiness organization" means a nonprofit
1 22 corporation organized under chapter 504A which is
1 23 exempt from taxation pursuant to section 501(c) of the
1 24 Internal Revenue Code and which has a principal
1 25 mission of actively engaging in microbusiness
1 26 development, training, technical assistance, and
1 27 capital access for the start-up or expansion of
1 28 microbusinesses.
1 29 2. The department shall contract with a
1 30 microenterprise organization actively engaged in
1 31 microbusiness enterprise to assist in the
1 32 establishment of this program. In order to qualify
1 33 for the contract, the microenterprise organization
1 34 shall do all of the following:
1 35 a. Demonstrate a past performance of and a
1 36 capacity to successfully engage in microbusiness
1 37 development.
1 38 b. Have a statewide commitment to and focus on
1 39 microbusiness development.
1 40 c. Provide training and technical assistance.
1 41 d. Demonstrate an ability to provide access to
1 42 capital for start-up or expansion of a microbusiness.
1 43 e. Have established linkages with financial
1 44 institutions.
1 45 f. Demonstrate an ability to provide follow-up
1 46 technical assistance after a microbusiness start-up or
1 47 expansion.
1 48 3. Moneys allocated pursuant to this section which
1 49 remain unexpended or unobligated at the end of a
1 50 fiscal year shall remain available to the department
2 1 to support the assistance program or may be credited
2 2 to the value-added agricultural products and processes
2 3 financial assistance fund created in section 15E.112
2 4 and shall not revert notwithstanding section 8.33.
2 5 4. The department shall submit a report in
2 6 accordance with section 7A.11 not later than November
2 7 1 of each year detailing the activities of the
2 8 microenterprise organization and describing the
2 9 success of the project."
2 10 #3. By renumbering as necessary.
2 11
2 12
2 13
2 14 BAKER of Polk
2 15
2 16
2 17
2 18 O'BRIEN of Boone
2 19
2 20
2 21
2 22 MERTZ of Kossuth
2 23
2 24
2 25
2 26 MYERS of Johnson
2 27 SF 2443.211 76
2 28 mk/jj
Text: H05447 Text: H05449 Text: H05400 - H05499 Text: H Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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