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Text: HF00366                           Text: HF00368
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House File 367

Partial Bill History

Bill Text

PAG LIN
  1  1                                           HOUSE FILE 367
  1  2 
  1  3                             AN ACT
  1  4 RELATING TO THE TRANSFER OF JOB TRAINING WITHHOLDING
  1  5    PAYMENTS TO THE WORKFORCE DEVELOPMENT FUND ACCOUNT,
  1  6    MAKING AN APPROPRIATION, AND PROVIDING EFFECTIVE AND
  1  7    RETROACTIVE APPLICABILITY DATE PROVISIONS.
  1  8 
  1  9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1 10 
  1 11    Section 1.  Section 422.16A, Code 1997, is amended to read
  1 12 as follows:
  1 13    422.16A  JOB TRAINING WITHHOLDING – CERTIFICATION AND
  1 14 TRANSFER.
  1 15    Upon payment in full of a certificate of participation or
  1 16 other obligation issued to fund a job training program under
  1 17 chapter 260E, including a certificate of participation repaid
  1 18 in whole or in part by the supplemental new jobs credit from
  1 19 withholding under section 15A.7, the community college
  1 20 providing the job training program shall notify the department
  1 21 of economic development of the amount paid by the employer or
  1 22 business to the community college to retire the certificate
  1 23 during the last twelve months of withholding collections.
  1 24 Upon the completion by a business of its repayment obligation
  1 25 for a training project funded under chapter 260E, including a
  1 26 job training project funded under chapter 260E repaid in whole
  1 27 or in part by the supplemental new jobs credit from
  1 28 withholding under section 15A.7, the sponsoring community
  1 29 college shall report to the department of economic development
  1 30 the amount of withholding paid by the business to the
  1 31 community college during the final twelve months of
  1 32 withholding payments.  The department of economic development
  1 33 shall notify the department of revenue and finance of that
  1 34 amount.  The department shall credit to the workforce
  1 35 development fund account established in section 15.342A
  2  1 twenty-five percent of that amount each quarter for a period
  2  2 of ten years.  If the amount of withholding from the business
  2  3 or employer is insufficient, the department shall prorate the
  2  4 quarterly amount credited to the workforce development fund
  2  5 account.  The maximum amount from all employers which shall be
  2  6 transferred to the workforce development fund account in any
  2  7 year is ten million dollars.
  2  8    Sec. 2.  All businesses that were part of a multiple issue
  2  9 certificate under chapter 260E and that have met their
  2 10 repayment obligation for a training project under that
  2 11 certificate between July 1, 1996, and the effective date of
  2 12 this Act, shall be identified by the appropriate sponsoring
  2 13 community college.  The appropriate sponsoring community
  2 14 college shall report to the department of economic development
  2 15 the amount of diversion that would have been made to the
  2 16 workforce development fund account for each applicable
  2 17 business had this Act been effective beginning July 1, 1996.
  2 18 The appropriate sponsoring community college shall also
  2 19 specify the date that this diversion would have been
  2 20 effective.  The department of economic development shall
  2 21 notify the department of revenue and finance of the total
  2 22 amount reported by all sponsoring community colleges.  There
  2 23 is appropriated and the department of revenue and finance
  2 24 shall make a one-time credit from the general fund to the
  2 25 workforce development fund account for that amount.
  2 26    Sec. 3.  EFFECTIVE AND APPLICABILITY DATES.  This Act,
  2 27 being deemed of immediate importance, takes effect upon
  2 28 enactment and applies retroactively to July 1, 1996, to
  2 29 include any final twelve months of withholding payments
  2 30 beginning on or after that date.  
  2 31 
  2 32 
  2 33                                                             
  2 34                               RON J. CORBETT
  2 35                               Speaker of the House
  3  1 
  3  2 
  3  3                                                             
  3  4                               MARY E. KRAMER
  3  5                               President of the Senate
  3  6 
  3  7    I hereby certify that this bill originated in the House and
  3  8 is known as House File 367, Seventy-seventh General Assembly.
  3  9 
  3 10 
  3 11                                                             
  3 12                               ELIZABETH ISAACSON
  3 13                               Chief Clerk of the House
  3 14 Approved                , 1997
  3 15 
  3 16 
  3 17                         
  3 18 TERRY E. BRANSTAD
  3 19 Governor
     
Text: HF00366                           Text: HF00368
Text: HF00300 - HF00399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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