261.22  Accelerated career education grants.
  1.  An accelerated career education grant program is established to be administered by the college student aid commission. An individual is eligible for the grant program if the individual is a resident of this state who is enrolled at a community college as a participant in an accelerated career education program in accordance with the provisions of chapter 260G. The college student aid commission shall adopt rules pursuant to chapter 17A for determining financial need and to administer this section and shall develop and implement a method for allocating moneys based upon the need for skills and occupations for which an applied technical education is required.
  2.  To be eligible to receive a grant under this section, an applicant shall, in accordance with the rules of the commission, do the following:
  a.  Complete and file an application for an accelerated career education grant. The individual shall be responsible for the prompt submission of any information required by the commission.
  b.  File a new application and submit information as required by the commission annually on the basis of which the applicant’s eligibility for the renewed grant will be evaluated and determined.
  3.  If a student receives financial aid from any source other than the program established under this section, the full amount of such financial aid shall be considered part of the student’s financial resources available in determining the amount of the student’s financial need for the period of the financial aid. Grant moneys received by a student in accordance with this section shall be used to pay the student’s cost of attendance, which includes community college tuition and fees, materials, textbooks and supplies, transportation, room and board, dependent care during the time the person is in class, and the purchase or rental of a computer.
  4.  The amount of the grant shall not exceed a student’s annual financial need or two thousand dollars, whichever is less. The grants shall be awarded on an annual basis. Applicants who meet the application deadline shall be ranked by the commission in order of need. The commission shall award grants to applicants in order of need beginning with applicants with the greatest need, insofar as funds permit. If a student receiving grant moneys discontinues attendance before the end of any term, the entire amount of any refund due that student, up to the amount of any payments made under the grant, shall be paid by the institution to the state for deposit in the accelerated career education grant fund.
  5.  An accelerated career education grant fund is created in the state treasury as a separate fund under the control of the commission. Moneys in the fund shall be used for accelerated career education grants. The fund shall consist of any moneys appropriated by the general assembly and any other moneys available to and obtained or accepted by the commission from the federal government or private sources for placement in the fund. Notwithstanding section 8.33, any balance in the fund on June 30 of each fiscal year shall not revert to the general fund of the state, but shall be available for the purposes of this section in subsequent fiscal years.
  6.  By December 15 of each year, the commission shall submit a report to the general assembly, the department of management, and the legislative services agency including, but not limited to, all of the following data:
  a.  The total funding of the grant program for the previous fiscal year itemized by type of funding including state, federal, or other funding. The information shall also be provided according to each community college.
  b.  The expenditures under the grant program and related information of the grant program including, but not limited to, all of the following:
  (1)  The number of participants in the accelerated career education program receiving moneys under the grant program.
  (2)  The number of participants in the accelerated career education program receiving moneys under the grant program who remain in the state upon completion of a program agreement.
  (3)  The number of participants in the accelerated career education program receiving moneys under the grant program who successfully complete a program agreement and the number who fail to successfully complete a program agreement.
  c.  Any other information requested by the general assembly.
2000 Acts, ch 1196, §8, 10; 2003 Acts, ch 35, §45, 49