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House Journal: Page 871: Wednesday, March 20, 1996

Baker of Polk offered the following amendment H-5448, to the
committee amendment H-5419, filed by Baker, et. al., and moved
its adoption:

H-5448

 1     Amend the amendment, H-5419, to Senate File 2443,
 2   as amended, passed, and reprinted by the Senate, as
 3   follows:
 4     1.  Page 2, line 42, by inserting after the words
 5   "fund for" the following:  "allocating $222,792 to the
 6   self-employment loan program for the purposes of the
 7   microbusiness rural enterprise assistance program
 8   under section 15.114 and for".
 9     2.  Page 12, by inserting after line 45, the
10   following:
11     "Sec. ___.  NEW SECTION.  15.114  MICROBUSINESS
12   RURAL ENTERPRISE ASSISTANCE.
13     1.  As used in this section:
14     a.  "Department" means the department of economic
15   development.
16     b.  "Microbusiness" or "microbusiness enterprise"
17   means a business producing services with five or fewer
18   full-time equivalent employee positions and with
19   assistance requirements of not more than twenty-five
20   thousand dollars.
21     c.  "Microbusiness organization" means a nonprofit
22   corporation organized under chapter 504A which is
23   exempt from taxation pursuant to section 501(c) of the
24   Internal Revenue Code and which has a principal
25   mission of actively engaging in microbusiness
26   development, training, technical assistance, and
27   capital access for the start-up or expansion of
28   microbusinesses.
29     2.  The department shall contract with a
30   microenterprise organization actively engaged in
31   microbusiness enterprise to assist in the
32   establishment of this program.  In order to qualify
33   for the contract, the microenterprise organization
34   shall do all of the following:
35     a.  Demonstrate a past performance of and a
36   capacity to successfully engage in microbusiness
37   development.
38     b.  Have a statewide commitment to and focus on
39   microbusiness development.
40     c.  Provide training and technical assistance.
41     d.  Demonstrate an ability to provide access to
42   capital for start-up or expansion of a microbusiness.
43     e.  Have established linkages with financial
44   institutions.
45     f.  Demonstrate an ability to provide follow-up
46   technical assistance after a microbusiness start-up or
47   expansion.
48     3.  Moneys allocated pursuant to this section which
49   remain unexpended or unobligated at the end of a
50   fiscal year shall remain available to the department

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Thu Mar 21 13:30:02 CST 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/00800/00871.html
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