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Senate Study Bill 2042

Bill Text

PAG LIN
  1  1    Section 1.  Section 15E.153, Code 1997, is amended to read
  1  2 as follows:
  1  3    15E.153  AUTHORIZED CORPORATION.
  1  4    A Wallace technology transfer foundation of Iowa shall be
  1  5 incorporated The department of economic development may
  1  6 organize a corporation under chapter 504A as a successor to
  1  7 the entity incorporated under this section prior to the
  1  8 effective date of this Act.  The foundation corporation shall
  1  9 not be regarded as a state agency, except for purposes of
  1 10 chapter 17A 8D.  A member of the board of directors is not
  1 11 considered a state employee, except for purposes of chapter
  1 12 669.  A natural person employed by the foundation corporation
  1 13 is a state employee for purposes of the Iowa public employees'
  1 14 retirement system, state health and dental plans, and other
  1 15 state employee benefits plans and chapter 669.  Chapters 8,
  1 16 18, 19A, and 20, and other provisions of law that relate to
  1 17 requirements or restrictions dealing with state personnel or
  1 18 state funds, do not apply to the foundation and corporation or
  1 19 any employees of the board or the foundation corporation
  1 20 except to the extent provided in this division of this
  1 21 chapter.
  1 22    Sec. 2.  Section 15E.154, Code 1997, is amended by striking
  1 23 the section and inserting in lieu thereof the following:
  1 24    15E.154  ORGANIZATIONAL STRUCTURE.
  1 25    The membership of the board of directors and other matters
  1 26 relating to the corporation shall be established according to
  1 27 the articles of incorporation and bylaws of the corporation.
  1 28    Sec. 3.  Section 159A.3, subsections 4 and 5, Code 1997,
  1 29 are amended to read as follows:
  1 30    4.  The office shall cooperate with the Wallace technology
  1 31 transfer foundation of Iowa in formulating formulate long-
  1 32 range strategic plans to guide state investment in applied
  1 33 research, development, and commercial transfer of selected
  1 34 scientific and technological innovation relating to renewable
  1 35 fuels and coproducts technology.
  2  1    5.  The office and state entities, including the
  2  2 department, the committee, the Iowa department of economic
  2  3 development, the state department of transportation, the
  2  4 department of natural resources, and state board of regents
  2  5 institutions, and the Wallace technology transfer foundation
  2  6 of Iowa, shall cooperate to implement this section.
  2  7    Sec. 4.  Sections 15E.152, 15E.155, 15E.157, 15E.158,
  2  8 15E.159, 15E.160, 15E.161, 15E.165, and 15E.166, Code 1997,
  2  9 are repealed.
  2 10    Sec. 5.  It is the intent of the general assembly to
  2 11 support the continued existence of a quasi-public, nonprofit
  2 12 corporation similar in structure to the Wallace technology
  2 13 transfer foundation of Iowa so that such a corporation
  2 14 structure may be used for future economic development purposes
  2 15 by the department of economic development.  The Wallace
  2 16 technology transfer foundation of Iowa board of directors
  2 17 serving immediately prior to the effective date of this Act
  2 18 shall consult with the department of economic development to
  2 19 determine and implement the appropriate modification to the
  2 20 articles of incorporation and bylaws to carry out the intent
  2 21 and provisions of this Act.
  2 22    Sec. 6.  EFFECTIVE DATE.  This Act, being deemed of
  2 23 immediate importance, takes effect upon enactment.  
  2 24                           EXPLANATION
  2 25    This bill removes all references in the Code to the Wallace
  2 26 technology transfer foundation of Iowa.  The bill provides the
  2 27 department of economic development with the ability to form a
  2 28 successor corporation to the foundation which may be used for
  2 29 future economic development purposes.  The successor
  2 30 corporation shall not be considered a state agency except for
  2 31 purposes of chapter 8D, which relates to the Iowa
  2 32 communications network.  The bill provides that the
  2 33 organizational structure of the successor corporation shall be
  2 34 established by the articles of incorporation and bylaws of the
  2 35 successor corporation.
  3  1    The bill requires the Wallace technology transfer
  3  2 foundation of Iowa board of directors to consult with the
  3  3 department to determine and implement the appropriate
  3  4 modification to the articles of incorporation and bylaws to
  3  5 carry out the intent of this bill.
  3  6    The bill provides for an immediate effective date.  
  3  7 LSB 3312DP 77
  3  8 tm/cf/24
     

Text: SSB02041                          Text: SSB02043
Text: SSB02000 - SSB02099               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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