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Text: HF00377                           Text: HF00379
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 378

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  NEW SECTION.  15.338  SHORT TITLE.
  1  2    This part shall be known as the "Microenterprise
  1  3 Development Act".
  1  4    Sec. 2.  NEW SECTION.  15.339  POLICY AND ESTABLISHMENT OF
  1  5 PROGRAM.
  1  6    It shall be the policy of the state to foster and encourage
  1  7 the upward social and economic mobility of disadvantaged
  1  8 individuals as part of the state's overall economic
  1  9 development strategy.  It shall also be the policy of the
  1 10 state to encourage public and private cooperation between
  1 11 social services and economic development initiatives which
  1 12 empower individuals to be self-sufficient and provide economic
  1 13 and social stability to local communities.  Therefore, a
  1 14 statewide microenterprise development program is established
  1 15 to encourage and assist in the creation, development, and
  1 16 financing of microbusinesses.
  1 17    Sec. 3.  NEW SECTION.  15.340  DEFINITIONS.
  1 18    1.  "Microbusiness or microbusiness enterprise" means a
  1 19 business producing goods or providing services with ten or
  1 20 fewer full-time equivalent employee positions including the
  1 21 employer and with asset requirements of up to twenty-five
  1 22 thousand dollars.
  1 23    2.  "Microenterprise organization" means a nonprofit
  1 24 corporation organized under chapter 504A and which is exempt
  1 25 from taxation pursuant to section 501(c), of the Internal
  1 26 Revenue Code, the principal mission of which is to be actively
  1 27 engaged in microbusiness development, training, technical
  1 28 assistance, and providing access to capital for the start-up
  1 29 or expansion of microbusinesses.
  1 30    Sec. 4.  NEW SECTION.  15.341  ELIGIBILITY CRITERIA.
  1 31    1.  A microenterprise organization may apply to the
  1 32 department for grants to fund a microenterprise development
  1 33 program.  The department shall develop criteria for awarding
  1 34 grants including at least the following:
  1 35    a.  Past performance of the organization and demonstrated
  2  1 capacity to successfully engage in microbusiness development
  2  2 projects.
  2  3    b.  Demonstrated or potential ability to obtain grant funds
  2  4 locally for microbusiness projects.
  2  5    c.  The organization's strategy for microbusiness
  2  6 development in its community or service region.
  2  7    d.  A reasonable limitation on the amount of grant funds
  2  8 which may be spent on administrative expenses by the
  2  9 organization.
  2 10    e.  Providing training and technical assistance.
  2 11    f.  Demonstrated ability to provide follow-up technical
  2 12 assistance after business startup or expansion.
  2 13    g.  Demonstrated ability to provide access to capital for
  2 14 start-up or expansion of microbusinesses.
  2 15    h.  A statewide commitment to and focus on microbusiness
  2 16 development.
  2 17    2.  The department shall also develop reporting
  2 18 requirements for the microenterprise organization.  
  2 19                           EXPLANATION
  2 20    This bill establishes an Iowa microenterprise development
  2 21 Act.  The program created by the Act is intended to assist
  2 22 individuals in starting or expanding microbusinesses and is to
  2 23 be administered by the department of economic development.
  2 24    The bill defines microbusiness or microbusiness enterprise
  2 25 as a business producing goods or providing services employing
  2 26 up to 10 full-time equivalent employee positions and having
  2 27 capital requirements of $25,000 or less.  The bill also
  2 28 provides criteria for determining whether a microenterprise
  2 29 organization is eligible for funds under the program.  
  2 30 LSB 2443HH 76
  2 31 mk/cf/24.1
     

Text: HF00377                           Text: HF00379
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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