House Amendment 1550


PAG LIN




     1  1    Amend House File 683 as follows:
     1  2 #1.  Page 5, by inserting after line 18 the
     1  3 following:
     1  4    <Sec. ___.  NEW SECTION.  15G.106  AGREEMENTS ==
     1  5 REPORTS.
     1  6    1.  An entity receiving moneys originating from the
     1  7 Iowa values fund, including, but not limited to,
     1  8 moneys appropriated from the fund to the department of
     1  9 economic development and the office of the treasurer
     1 10 of state, shall enter into an agreement with the board
     1 11 specifying the requirements that must be met to
     1 12 confirm eligibility to receive such moneys.  The
     1 13 agreement shall contain a provision requiring the
     1 14 repayment of all or a portion of the moneys received
     1 15 if requirements of the agreement, a mechanism for
     1 16 determining whether the requirements have not been
     1 17 met, and a method for determining the repayment
     1 18 amount.  The agreement shall contain the current
     1 19 number of jobs and the wage levels at the business of
     1 20 the entity at the time of receiving moneys, the
     1 21 projected number of jobs created and the wages for the
     1 22 new jobs as a result of receiving the moneys, and the
     1 23 projected timeline for meeting the job creation and
     1 24 wage level objectives.  The projected timeline for job
     1 25 creation and wage level objectives shall be considered
     1 26 a requirement of the agreement and the failure to meet
     1 27 the projected timeline shall cause the repayment
     1 28 provisions of the agreement to be enforced.  The
     1 29 agreement shall require the entity receiving moneys,
     1 30 for the length of the agreement, to certify annually
     1 31 to the board the compliance of the entity with the
     1 32 requirements of the agreement, including the timeline
     1 33 projections.  The compliance certifications shall also
     1 34 include projected revenue to the state caused by the
     1 35 investment of moneys received from the fund, the type
     1 36 of business organization under which the entity is
     1 37 organized, and, when possible, the race and gender of
     1 38 the ownership of the entity.
     1 39    2.  By January 15 of each year, the board shall
     1 40 submit a written report to the general assembly
     1 41 relating to the information gathered pursuant to
     1 42 subsection 1 during the previous calendar year.  The
     1 43 information shall include, but not be limited to,
     1 44 moneys awarded, jobs created, wage levels of new jobs,
     1 45 projected revenue to the state as a result of the
     1 46 moneys awarded, whether compliance issues have arisen,
     1 47 and how the compliance issues were resolved.>
     1 48 #2.  By renumbering as necessary.
     1 49
     1 50
     2  1                               
     2  2 WINCKLER of Scott
     2  3
     2  4
     2  5                               
     2  6 KUHN of Floyd
     2  7 HF 683.307 80
     2  8 tm/cf

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