Text: HSB00165 Text: HSB00167 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 15.321 ECONOMIC DEVELOPMENT
1 2 OPPORTUNITY FUND &endash; PURPOSE.
1 3 1. An economic development opportunity fund is created in
1 4 the state treasury under the control of the department for the
1 5 purpose of providing catalyst funding to cutting-edge high
1 6 technology projects that are innovative and not tied to job
1 7 creation criteria.
1 8 2. The department shall adopt rules containing funding
1 9 criteria which shall include the following:
1 10 a. Projects receiving funding shall focus on enhancing
1 11 regional, technology, and entrepreneurial or business
1 12 relationships.
1 13 b. Projects receiving funding shall have active
1 14 involvement from the private sector.
1 15 c. Projects receiving funding shall possess a combination
1 16 of technology, innovation, and market potential that is world
1 17 class in its ramifications for Iowa and the businesses
1 18 involved.
1 19 d. Funding for projects shall be for a definite period and
1 20 shall serve to strengthen the relationship between technology
1 21 and business needs as a result.
1 22 EXPLANATION
1 23 This bill establishes the economic development opportunity
1 24 fund in the state treasury to provide catalyst funding for
1 25 innovative high technology projects which are not tied to job
1 26 creation criteria. The bill provides for the department to
1 27 set eligibility criteria based upon such factors as active
1 28 involvement with the private section and the focus of the
1 29 project on enhancing regional, technology, and other business
1 30 relationships.
1 31 LSB 2181HC 76
1 32 mk/sc/14
Text: HSB00165 Text: HSB00167 Text: HSB00100 - HSB00199 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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