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House Journal: Page 891: Thursday, March 27, 1997

44   chapter 150A, podiatry pursuant to chapter 149,
45   psychology pursuant to chapter 154B, or law pursuant
46   to section 602.10101 et seq.
47     f.  Liquor, beer, and wine sales must not exceed
48   twenty percent of annual sales.
49     Sec. __.  Section 12.40, subsection 4, Code 1997,
50   is amended to read as follows:

Page 3

 1     4.  In order to qualify as an eligible borrower,
 2   the transfer of the rural small business must be by
 3   purchase, lease-purchase, or contract of sale.  The
 4   purchase must be for a portion of the business which
 5   is essential to its continued viability, including
 6   real estate where the business is located, fixtures
 7   attached to the real estate, equipment, supplies, and
 8   machinery relied upon by the business, and inventory
 9   for sale by the business.
10     Sec. ___.  Section 12.40, subsection 7, Code 1997,
11   is amended to read as follows:
12     7.  The During the lifetime of this loan program,
13   the maximum loan amount of assistance that
a an
14   eligible borrower or a business may receive
under
15   through this loan program shall be fifty thousand
16   dollars.  An eligible borrower or business under this
17   program shall be limited to one loan from one
18   financial institution.
19     Sec. ___.  Section 12.41, subsection 1, Code 1997,
20   is amended to read as follows:
21     1.  In order to qualify as an eligible borrower,
22   the loan application shall must be for the purchase
or
23   lease of land, machinery, equipment, or the purchase
24   of other inputs used in the business of producing,
25   processing, or marketing horticultural or
26   nontraditional crops as defined in rules adopted by
27   the treasurer.
28     Sec. ___.  Section 12.41, subsection 3, Code 1997,
29   is amended to read as follows:
30     3.  The maximum loan amount of assistance that an
31   eligible borrower or business may receive under
during
32   the lifetime of this program is two hundred thousand
33   dollars for a production loan and five hundred
34   thousand dollars for processing or marketing
35   facilities.  An eligible borrower or business under
36   this program shall be limited to one loan from one
37   financial institution.
38     Sec. ___.  Section 12.43, Code 1997, is amended to
39   read as follows:
40     12.43  TARGETED FOCUSED SMALL BUSINESS LINKED
41   INVESTMENTS PROGRAM CREATED _ DEFINITIONS.
42     The treasurer of state shall adopt rules to
43   implement a targeted focused small business linked

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

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