House Journal: Page 1839: Wednesday, April 28, 1999

 6   education fund created in section 260G.6."

 7     2.  Page 2, by striking lines 8 and 9.
 8     3.  Page 3, by striking lines 11 through 13 and
 9   inserting the following:
10    "a.  Financial assistance from the ACE fund."
11    4.  Page 5, lines 8 and 9, by striking the words
12   "PROGRAM JOB CREDITS FROM WITHHOLDING." and inserting
13   the following:  "ACE FUND FINANCIAL ASSISTANCE."
14     5.  Page 5, by striking lines 12 and 13 and
15   inserting the following:  "include a provision for
16   requesting financial assistance from the ACE fund to
17   pay for program costs.  If a program provides that".
18     6.  Page 5, lines 14 and 15, by striking the words
19   "program job credits" and inserting the following:
20   "financial assistance from the ACE fund".
21     7.  By striking page 5, line 16, through page 6,
22   line 12, and inserting the following:
23     "1.  The employer and community college shall file
24   a joint application with the department of economic
25   development for financial assistance under the ACE
26   fund.  The application shall provide information
27   regarding the program and projected method of paying
28   program costs and shall include any other information
29   deemed necessary by the department.
30     2.  Financial assistance provided by the ACE fund
31   may take the form of loans, forgivable loans, or
32   grants.
33     3.  The department shall approve, deny, or defer
34   each application."
35     8.  Page 6, lines 13 and 14, by striking the words
36   "MAXIMUM STATEWIDE PROGRAM JOB CREDIT" and inserting
37   the following:  "ACE FUND".
38     9.  By striking page 6, line 15, through page 8,
39   line 2, and inserting the following:
40     "1.  The accelerated career education or ACE fund
41   is created as a revolving fund consisting of any money
42   appropriated by the general assembly for that purpose
43   and any other moneys available to and obtained or
44   accepted by the department from the federal government
45   or private sources for placement in the fund.  The
46   fund shall also include any repayments of loans or
47   other awards made under this chapter.  Notwithstanding
48   section 8.33, moneys in the ACE fund at the end of
49   each fiscal year shall not revert to any other fund
50   but shall remain in the ACE fund for expenditure for
Page 2  
 1   subsequent fiscal years.
 2     2.  For the fiscal year beginning July 1, 1999,
 3   there is appropriated to the department of economic
 4   development from the general fund of the state eight

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