House Journal: Page 2121: Tuesday, June 3, 2003
4 determined as follows:
5 a. Five million dollars for the fiscal year
6 beginning July 1, 2003.
7 b. Five million dollars for the fiscal year
8 beginning July 1, 2004.
9 c. Five million dollars for the fiscal year
10 beginning July 1, 2005.
11 d. Ten million dollars for the fiscal year
12 beginning July 1, 2006.
13 e. For the fiscal year beginning July 1, 2007, and
14 each succeeding fiscal year, the grow Iowa values
15 board shall make a determination if sufficient moneys
16 exist in the grow Iowa values fund to distribute to
17 community colleges.
18 Sec. . NEW SECTION. 260F.9 JOB RETENTION
19 PROGRAM.
20 1. The department of economic development shall
21 administer the job retention program. The department
22 shall adopt rules pursuant to chapter 17A necessary
23 for the administration of this section. By January 15
24 of each year, the department shall submit a written
25 report to the general assembly and the governor
26 regarding the activities of the job retention program
27 during the previous calendar year.
28 2. A community college and the department may
29 enter into an agreement to establish a job retention
30 project. A job retention project agreement shall
31 include, but not be limited to, the following:
32 a. The date of the agreement.
33 b. The anticipated number of employees to be
34 trained.
35 c. The estimated cost of training.
36 d. A statement regarding the number of employees
37 employed by the participating business on the date of
38 the agreement which must equal at least the lesser of
39 one thousand employees or four percent or more of the
40 county's resident labor force based on the most recent
41 annual labor force statistics from the department of
42 workforce development.
43 e. A commitment that the participating business
44 shall invest at least fifteen million dollars to
45 retool the workplace and upgrade the facilities of the
46 participating business.
47 f. A commitment that the participating business
48 shall not move the business operation out of this
49 state or close the business operation for at least ten
50 years following the date of the agreement.
Page 13
1 g. Other criteria established by the department of
2 economic development.
© 2003 Cornell College and
League of Women Voters of Iowa
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