House Journal: Page 1652: Monday, April 26, 1999

	Senate File 221, a bill for an act relating to welfare reform 

provisions involving the family investment program and individual 
development accounts, was taken up for consideration.
Boal of Polk asked and received unanimous consent to withdraw 
amendment H-1582 filed by her on April 13, 1999.
Boal of Polk offered the following amendment H?1810 filed by her 
from the floor and moved its adoption:
H-1810
 1     Amend Senate File 221, as passed by the Senate, as
 2   follows:
 3     1.  Page 2, by inserting after line 34 the
 4   following:
 5     "Sec. ___.  SELF-EMPLOYMENT LOAN PROGRAM -
 6   INDIVIDUAL DEVELOPMENT ACCOUNTS.
 7     1.  Notwithstanding section 15.241, for the period
 8   beginning July 1, 1999, and ending June 30, 2000, a
 9   portion of the funds available under the self-
10   employment loan program account may be made available
11   to provide matching funds for individual development
12   accounts under chapter 541A.  Self-employment loan
13   program funding allocated for individual development
14   accounts shall be used by account holders to start a
15   business, acquire employment-related training or
16   postsecondary education, or purchase a primary
17   residence.  The allocation of loan program funding to
18   individual development account holders may be made in
19   the form of loans or grants.  A majority of the loan
20   program funds allocated for individual development
21   accounts must be used to start a business or to
22   acquire training.  The department of economic
23   development shall adopt rules governing the
24   administration of this provision.  In addition, the
25   department of economic development and the department
26   of human services shall coordinate the use of self-
27   employment loan program funds for individual
28   development accounts.
29     2.  In order to implement the provisions of this
30   section, the department of human services may contract
31   with an established, statewide nonprofit community
32   development corporation.  The corporation must have a
33   national reputation and demonstrated experience in
34   poverty alleviation and asset-building programs for
35   persons with low income, long-term involvement in the
36   national individual development account movement,
37   statewide capacity and infrastructure, expertise in

© 1999 Cornell College and League of Women Voters of Iowa

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