Text: HSB00529 Text: HSB00531 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 15.364, subsection 6, Code Supplement 1 2 2001, is amended to read as follows: 1 3 6. a. That in addition to the base wage paid to the 1 4 participant, the employer shall pay an additional sum to be 1 5 held in trust to be applied toward the participant's 1 6 postsecondary education required for completion of the 1 7 certified program. The additional amount must be not less 1 8 than an amount determined by the department of economic 1 9 development to be sufficient to provide payment of tuition 1 10 expenses toward completion of not more than two academic years 1 11 of the required postsecondary education component of the 1 12 certified program at an Iowa community college or an Iowa 1 13 public or private college or university. This amount shall be 1 14 held in trust for the benefit of the participant pursuant to 1 15 rules adopted by the department of economic development. 1 16 Payment into an ERISA-approved fund for the benefit of the 1 17 participant shall satisfy this requirement. The specific fund 1 18 shall be specified in the agreement. 1 19 b. An employer that is a consortium of two or more 1 20 employers shall not be subject to the requirements ofthis1 21subsectionparagraph "a" if tuition is included as part of a 1 22 stipend paid by the employer to a participant and can be 1 23 identified as such. The identified portion shall be held in 1 24 trust to be applied toward the tuition expenses for the 1 25 completion of not more than two academic years of the required 1 26 postsecondary education component of the certified program at 1 27 an Iowa community college or an Iowa public or private college 1 28 or university. The amount shall be held in trust for the 1 29 benefit of the participant pursuant to rules adopted by the 1 30 department of economic development and shall not be less than 1 31 an amount determined by the department to be sufficient to 1 32 provide payment of tuition expenses for the academic years 1 33 described in this paragraph. 1 34 Sec. 2. Section 15.365, subsection 1, Code Supplement 1 35 2001, is amended to read as follows: 2 1 1. An employer who employs a participant in a certified 2 2 school-to-career program may claim a refund of twenty percent 2 3 of the employer's payroll expenditures for each participant in 2 4 the certified program or twenty percent of the employer's 2 5 expenditures for participant experience expenses provided for 2 6 in the certified program agreement which may include 2 7 instructor expenses, contributions to a trust fund for 2 8 tuition, instructional materials, up to one hundred fifty 2 9 thousand dollars of training facility costs per program, and 2 10 project coordination. The refund is limited to the first four 2 11 hundred hours of payroll or participant experience 2 12 expenditures per participant for each calendar year the 2 13 participant is in the certified program, not to exceed three 2 14 years per participant. 2 15 EXPLANATION 2 16 This bill amends a portion of the certified school-to- 2 17 career program relating to consortiums of two or more 2 18 employers. The bill provides that, if an employer is a 2 19 consortium and tuition is included as part of a stipend paid 2 20 by the employer to the participant, the consortium shall be 2 21 held to different requirements than those of a single 2 22 employer. 2 23 The bill requires that the portion of the stipend 2 24 identified as tuition shall be held in trust to be applied 2 25 toward the tuition expenses for the completion of not more 2 26 than two academic years of the required postsecondary 2 27 education component of the certified program at an Iowa 2 28 community college or an Iowa public or private college or 2 29 university. The bill provides that the amount shall be held 2 30 in trust for the benefit of the participant and shall not be 2 31 less than an amount determined by the department of economic 2 32 development to be sufficient to provide payment of tuition 2 33 expenses for the academic years described. The bill provides 2 34 that a portion of employer contributions to a trust fund for 2 35 tuition may be refunded. 3 1 LSB 5306DP 79 3 2 tm/sh/8.1
Text: HSB00529 Text: HSB00531 Text: HSB00500 - HSB00599 Text: HSB Index Bills and Amendments: General Index Bill History: General Index
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