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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