1. A workforce development fund is created as a revolving fund in the state treasury under the control of the department consisting of any moneys appropriated by the general assembly for that purpose and any other moneys available to and obtained or accepted by the department from the federal government or private sources for placement in the fund. The fund shall also include all of the following:
a. Notwithstanding section 8.33, all unencumbered and unobligated funds from 1994 Iowa Acts, chapter 1201, section 1, subsection 6, except paragraph "d"; section 3, subsections 1 and 3; and section 10, remaining on July 1, 1995, and all unencumbered and unobligated funds in the Iowa conservation corps escrow account established in section 84A.7 and the job training fund established in section 260F.6.
b. Moneys appropriated to the fund from the workforce development fund account established in section 15.342A.
Notwithstanding section 8.33, moneys in the workforce development fund at the end of each fiscal year shall not revert to any other fund but shall remain in the workforce development fund for expenditure for subsequent fiscal years.
2. The assets of the fund shall be used by the department for the following programs and purposes:
a. Training and retraining programs for targeted industries.
b. Projects under chapter 260F. The department shall require a match from all businesses participating in a training project under chapter 260F.
c. Apprenticeship programs under section 260C.44, including new or statewide building trades apprenticeship programs.
d. Innovative skill development activities.
e. To cover the costs of the administration of workforce development programs and services available through the department. A portion of these funds may be used to support efforts by the community colleges to provide workforce services to Iowa employers.
3. a. The director shall submit not later than January 1 of each year at a regular or special meeting, for approval by the economic development board, the proposed allocation of funds from the workforce development fund to be made for the next fiscal year for the programs and purposes contained in subsection 2. The director shall also submit a copy of the proposed allocation to the chairpersons of the joint economic development appropriations subcommittee of the general assembly. Notwithstanding section 8.39, the plan may provide for increased or decreased allocations if the demand for a program indicates that the need is greater or lesser than the allocation for that program. The director shall report on a quarterly basis to the board on the status of the funds and may present proposed revisions for approval by the board in January and April of each year. The director shall also provide quarterly reports to the legislative fiscal bureau on the status of the funds. Unobligated and unencumbered moneys remaining in the workforce development fund or any of its accounts on June 30 of each year shall be considered part of the fund for purposes of the next year's allocation.
b. The first seven million dollars deposited in the workforce development fund shall be used for purposes provided in subsection 2, paragraph "b".
95 Acts, ch 184, §3; 96 Acts, ch 1180, §2, 4-6; 96 Acts, ch 1186, §5-7; 99 Acts, ch 183, §3; 2000 Acts, ch 1230, §16
Referred to in § 15.342
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