Text: S03479 Text: S03481 Text: S03400 - S03499 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 221, as passed by the Senate, as 1 2 follows: 1 3 #1. Page 2, by inserting after line 34 the 1 4 following: 1 5 "Sec. . SELF-EMPLOYMENT LOAN PROGRAM 1 6 INDIVIDUAL DEVELOPMENT ACCOUNTS. 1 7 1. Notwithstanding section 15.241, for the period 1 8 beginning July 1, 1999, and ending June 30, 2000, a 1 9 portion of the funds available under the self- 1 10 employment loan program account may be made available 1 11 to provide matching funds for individual development 1 12 accounts under chapter 541A. Self-employment loan 1 13 program funding allocated for individual development 1 14 accounts shall be used by account holders to start a 1 15 business, acquire employment-related training or 1 16 postsecondary education, or purchase a primary 1 17 residence. The allocation of loan program funding to 1 18 individual development account holders may be made in 1 19 the form of loans or grants. A majority of the loan 1 20 program funds allocated for individual development 1 21 accounts must be used to start a business or to 1 22 acquire training. The department of economic 1 23 development shall adopt rules governing the 1 24 administration of this provision. In addition, the 1 25 department of economic development and the department 1 26 of human services shall coordinate the use of self- 1 27 employment loan program funds for individual 1 28 development accounts. 1 29 2. In order to implement the provisions of this 1 30 section, the department of human services may contract 1 31 with an established, statewide nonprofit community 1 32 development corporation. The corporation must have a 1 33 national reputation and demonstrated experience in 1 34 poverty alleviation and asset-building programs for 1 35 persons with low income, long-term involvement in the 1 36 national individual development account movement, 1 37 statewide capacity and infrastructure, expertise in 1 38 program evaluation, and experience in managing and 1 39 implementing large-scale federal grants." 1 40 #2. By renumbering as necessary. 1 41 SF 221H 1 42 jp/jg/25
Text: S03479 Text: S03481 Text: S03400 - S03499 Text: S Index Bills and Amendments: General Index Bill History: General Index
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