261—20.3 (260G) ACE program eligibility and designation.
	 20.3(1) In order to receive financial assistance under the capital projects program, tax credits from withholding under the program job credits component or financial assistance through the college student aid commission’s accelerated career education grants program, a program must be designated by a community college as an eligible ACE program. All programs must demonstrate increased capacity to enroll additional students. To be eligible, a program must be either:
	  a.   	 A credit career, vocational, or technical education program resulting in the conferring of a certificate, diploma, associate of science degree, or associate of applied science degree; or
	  b.   	 A credit-equivalent career, vocational, or technical education program consisting of not less than 540 contact hours of classroom and laboratory instruction and resulting in the conferring of a certificate or other recognized, competency-based credential.
	 20.3(2) By resolution of a community college board of directors, an eligible program may be approved and designated as an ACE program. The respective community college board(s) of directors shall ensure compliance with Iowa Code chapter 260G. In designating ACE programs, the respective community college board(s) shall give priority to targeted industries as designated by the department.
	 20.3(3) A copy of the designated ACE program agreement shall be submitted to the department. The agreement shall state which of the three program components (capital projects, tax credits or education grants), or combination thereof, is included in the agreement. The department will maintain a record of all approved ACE programs.
	 20.3(4) The department will review ACE programs for issues of quality in accordance with rule 261—20.16(260G).