House Journal: Page 1552: Wednesday, April 30, 2003
4 "Sec. ___. NEW SECTION. 15G.106 AGREEMENTS -
5 REPORTS.
6 1. An entity receiving moneys originating from the
7 Iowa values fund, including, but not limited to,
8 moneys appropriated from the fund to the department of
9 economic development and the office of the treasurer
10 of state, shall enter into an agreement with the board
11 specifying the requirements that must be met to
12 confirm eligibility to receive such moneys. The
13 agreement shall contain a provision requiring the
14 repayment of all or a portion of the moneys received
15 if requirements of the agreement, a mechanism for
16 determining whether the requirements have not been
17 met, and a method for determining the repayment
18 amount. The agreement shall contain the current
19 number of jobs and the wage levels at the business of
20 the entity at the time of receiving moneys, the
21 projected number of jobs created and the wages for the
22 new jobs as a result of receiving the moneys, and the
23 projected timeline for meeting the job creation and
24 wage level objectives. The projected timeline for job
25 creation and wage level objectives shall be considered
26 a requirement of the agreement and the failure to meet
27 the projected timeline shall cause the repayment
28 provisions of the agreement to be enforced. The
29 agreement shall require the entity receiving moneys,
30 for the length of the agreement, to certify annually
31 to the board the compliance of the entity with the
32 requirements of the agreement, including the timeline
33 projections. The compliance certifications shall also
34 include projected revenue to the state caused by the
35 investment of moneys received from the fund, the type
36 of business organization under which the entity is
37 organized, and, when possible, the race and gender of
38 the ownership of the entity.
39 2. By January 15 of each year, the board shall
40 submit a written report to the general assembly
41 relating to the information gathered pursuant to
42 subsection 1 during the previous calendar year. The
43 information shall include, but not be limited to,
44 moneys awarded, jobs created, wage levels of new jobs,
45 projected revenue to the state as a result of the
46 moneys awarded, whether compliance issues have arisen,
47 and how the compliance issues were resolved."
48 2. By renumbering as necessary.
Amendment H-1550 lost.
Watts of Dallas offered the following amendment H-1489 filed by
Watts, et al., and moved its adoption:
© 2003 Cornell College and
League of Women Voters of Iowa
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