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House Journal: Page 1893: Tuesday, April 21, 1998

3.  To receive and accept aid or contributions from a source
of money, property, labor, or other things of value to be used
to carry out the purposes of this division including gifts or
grants from a department or agency of the United States or any
state.
4.  To issue notes and bonds as provided under this division.
5 2.  To hold patents, copyrights, trademarks, or other
evidences of protection or exclusivity issued under the laws of
this state or the United States to any products.
6 3.  To employ assistants, agents, and other employees
and to engage consultants, attorneys, and appraisers as
necessary or desirable to carry out the purposes of the
corporation.
7 4.  To make and enter into contracts and agreements
necessary or incidental to its performance of the duties and the
powers granted to the corporation.
8 5.  To sue and be sued, plead, and adopt a seal.
9 6.  With the approval of the treasurer of state, to
invest funds which are not needed for immediate use or
disbursement, including funds held in reserve, in obligations
issued or guaranteed by the state or the United States.
10 7.  To procure insurance against a loss in connection
with its property and other assets.
11 8.  To the extent permitted under a corporation
contract with other persons, to consent to a termination,
modification, forgiveness, or other change in the terms of a
contractual right, payment, royalty, contract, or agreement.
12 9.  To take necessary action to render bonds issued
under this division more marketable.
Sec. 26.  Section 422.16A, Code Supplement 1997, is amended to
read as follows:
422.16A  JOB TRAINING WITHHOLDING - CERTIFICATION AND TRANSFER.
Upon the completion by a business of its repayment obligation
for a training project funded under chapter 260E, including a
job training project funded under chapter 260E and section
15A.8 or repaid in whole or in part by the supplemental new
jobs credit from withholding under section 15A.7 or section
15.331, the sponsoring community college shall report to the
department of economic development the amount of withholding
paid by the business to the community college during the final
twelve months of withholding payments.  The department of
economic development shall notify the department of revenue and
finance of that amount.  The department shall credit to the
workforce development fund account established in section
15.342A twenty-five percent of that amount each quarter for a
period of ten years.  If the amount of withholding from the
business or employer is insufficient, the department shall
prorate the quarterly amount credited to the workforce
development fund account.  The maximum amount from all employers
which shall be transferred to the workforce development fund
account in any year is ten million dollars.  

© 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/01800/01893.html
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