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House Journal: Page 1890: Tuesday, April 21, 1998

postsecondary education component of the certified program at an
Iowa community college or an Iowa public or private college or
university.  This amount shall be held in trust for the benefit
of the participant pursuant to rules adopted by the department
of economic development.  Payment into an ERISAapproved fund for
the benefit of the participant shall satisfy this requirement. 
The specific fund shall be specified in the agreement.
7.  The participant's agreement to work for the employer for at
least two years following the completion of the participant's
postsecondary education required by the certified program. 
However, the agreement may provide for additional education and
work commitments beyond the two years.
8.  If the participant does not complete the two-year employment
obligation, the participant's agreement to repay to the employer
the amount paid by the employer toward the participant's
postsecondary education expenses pursuant to subsection 6.
9.  a.  That if a participant does not complete the certified
program contemplated by the agreement after entering a
postsecondary education program, any unexpended funds being held
in trust for the participant's postsecondary education shall be
paid back to the employer.  In addition the participant must
repay to the employer amounts paid from the trust which were
expended on the participant's behalf for postsecondary education.
b.  That if a participant does not complete the certified
program contemplated by the agreement prior to entering a
postsecondary education program, one-half of the moneys being
held in trust for the participant's postsecondary education
shall be paid to a postsecondary education institution as
defined in section 261C.3 of the participant's choice to pay
tuition or expenses of the participant.  The other one-half of
the trust moneys shall be paid back to the employer.  Any moneys
to be transferred for the benefit of the participant which are
not transferred within five years for purposes of education at
the designated postsecondary institution, shall be paid back to
the employer.
Sec. 19. NEW SECTION.  15.365  PAYROLL EXPENDITURE REFUND.
1.  An employer who employs a participant in a certified school
to career program may claim a refund of twenty percent of the
employer's payroll expenditures for each participant in the
certified program.  The refund is limited to the first four
hundred hours of payroll expenditures per participant for each
calendar year the participant is in the certified program, not
to exceed three years per participant.
2.  To receive a refund under subsection 1 for a calendar year,
the employer shall file the claim by July 1 of the following
calendar year.  The claim shall be filed on forms provided by
the department of economic development and the employer shall
provide such information regarding the employer's participation
in a certified school to career program as the department may
require.  Forms should be designed such that claims for refunds
for more than one participant may be made on a single form.
3.  For each fiscal year of the fiscal period beginning July 1,
1999, and ending June 30, 2004, there is appropriated up to five
hundred thousand dollars annually from the general fund of the
state to the department of economic development to pay refunds
under this section.  If the amount appropriated in a fiscal year
is insufficient to pay all refund claims for the calendar year
in full, each claimant shall receive a proportion of the
claimant's refund claim equal to the ratio of the amount

© 1998 Cornell College and League of Women Voters of Iowa

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Last update: Wed Apr 22 13:40:08 CDT 1998
URL: /DOCS/GA/77GA/Session.2/HJournal/01800/01890.html
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