Text: HF02228 Text: HF02230 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE FILE 2229 1 2 1 3 AN ACT 1 4 RELATING TO USE OF MONEYS IN THE STRATEGIC INVESTMENT FUND. 1 5 1 6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 7 1 8 Section 1. Section 15.312, Code 2001, is amended to read 1 9 as follows: 1 10 15.312 PURPOSE. 1 11 The purpose of this part shall be to provide a mechanism 1 12 for the fundingthoseof programslisted in section 15.313,1 13subsection 2, in order to more efficiently meet the needs1 14identified within those individual programswhich meet the 1 15 descriptions provided in section 15.313, subsection 2. 1 16 Sec. 2. Section 15.313, subsections 2, 3, and 4, Code 1 17 2001, are amended to read as follows: 1 18 2. The assets of the fund shall be used by the department 1 19for the following programs and purposesto assist in 1 20 relocation or expansion projects for existing businesses as 1 21 well as entrepreneurial start-up and expansion projects. 1 22 Moneys in the fund shall be used for projects designed to meet 1 23 any of the following purposes: 1 24 a.The community economic betterment program created in1 25sections 15.315 through 15.320To assist communities in the 1 26 state by providing financial assistance for small business gap 1 27 financing, new business opportunities, and new product and 1 28 entrepreneurial development. 1 29 b.The business development finance corporation created in1 30sections 15E.131 through 15E.149To provide financial and 1 31 technical assistance to early-stage industry companies and 1 32 entrepreneurs. 1 33 c.The self-employment loan program created in section1 3415.241To provide financial and technical assistance to 1 35 targeted small businesses as defined in section 15.102. 2 1d. The targeted small business financial assistance2 2program created in section 15.247.2 3e.d. To provide comprehensive management assistance for 2 4 applicants or recipients of assistance fromprograms supported2 5bythe fund. 2 6f.e.IfTo access federal fundsareavailable underaany 2 7 federal microloan demonstration program, a portion of the2 8moneys in the strategic investment fund may be utilized to2 9access those federal funds to expand the state's small2 10business financial assistance programs including the self-2 11employment loan program and the targeted small business2 12financial assistance program. 2 13g.f.The entrepreneurs with disabilities program, which2 14provides technical and financial assistance to help persons2 15with disabilities become self-sufficient and create additional2 16employment opportunities by establishing or expanding small2 17business venturesTo provide technical and financial 2 18 assistance to help persons with disabilities become self- 2 19 sufficient by establishing or expanding business ventures. 2 20h. The job opportunities for persons with disabilities2 21program, which provides service and technical assistance to2 22rehabilitation organizations or agencies that create, expand,2 23or spin off business ventures for persons with disabilities.2 24i. The value-added agricultural products and processes2 25financial assistance fund created in section 15E.112.2 263. The assets of the fund may be used for purposes of2 27administering and operating the entrepreneurial ventures2 28assistance program established in section 15.339.2 29 g. To assist businesses in retooling or upgrading 2 30 production equipment to meet contemporary technology 2 31 standards. 2 324.3.The director shall submit annually at a regular or2 33special meeting preceding the beginning of the fiscal year,2 34for approval by the economic development board, the proposed2 35allocation of funds from the strategic investment fund to be3 1made for that fiscal year to the community economic betterment3 2program, the business development finance corporation, the3 3self-employment loan program, and the targeted small business3 4financial assistance program and for comprehensive management3 5assistance. If funds are available under a federal microloan3 6demonstration program, the director may recommend an3 7allocation for that purpose. The plans may provide for3 8increased or decreased allocations if the demand in a program3 9indicates that the need exceeds the allocation for that3 10program.At the beginning of each fiscal year, the board 3 11 shall establish goals for the strategic investment fund 3 12 relating to the intended strategic focus for the fiscal year. 3 13 The director shall report on a monthly basis to the board on 3 14 the status of thefunds and may present proposed revisions for3 15approval by the board in January and April of each yearfund. 3 16 Unobligated and unencumbered moneys remaining in the strategic 3 17 investment fund or any of its accounts on June 30 of each year 3 18 shall be considered part of the fund for purposes of the next 3 19 year's allocation. 3 20 3 21 3 22 3 23 BRENT SIEGRIST 3 24 Speaker of the House 3 25 3 26 3 27 3 28 MARY E. KRAMER 3 29 President of the Senate 3 30 3 31 I hereby certify that this bill originated in the House and 3 32 is known as House File 2229, Seventy-ninth General Assembly. 3 33 3 34 3 35 4 1 MARGARET THOMSON 4 2 Chief Clerk of the House 4 3 Approved , 2002 4 4 4 5 4 6 4 7 THOMAS J. VILSACK 4 8 Governor
Text: HF02228 Text: HF02230 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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