House Amendment 1550
PAG LIN
1 1 Amend the amendment, H=1544, to House File 809, as
1 2 amended, passed, and reprinted by the House, as
1 3 follows:
1 4 #1. Page 1, by inserting after line 7 the
1 5 following:
1 6 <# . Page 10, by inserting after line 31 the
1 7 following:
1 8 <Sec. . ENDOW IOWA GRANTS APPROPRIATIONS.
1 9 1. There is appropriated from the general fund of
1 10 the state to the department of economic development
1 11 for the fiscal period beginning July 1, 2005, and
1 12 ending June 30, 2008, the following amounts, or so
1 13 much thereof as is necessary, to be used for the
1 14 purpose designated:
1 15 For endow Iowa grants to lead philanthropic
1 16 entities pursuant to section 15E.304:
1 17 FY 2005=2006.......................................$ 50,000
1 18 FY 2006=2007.......................................$ 50,000
1 19 FY 2007=2008.......................................$ 50,000
1 20 2. Notwithstanding section 8.33, moneys that
1 21 remain unexpended at the end of the fiscal year shall
1 22 not revert to any fund but shall remain available for
1 23 expenditure for the designated purposes during the
1 24 succeeding fiscal year.
1 25 Sec. . NEW SECTION. 15G.110 APPROPRIATION.
1 26 For the fiscal period beginning July 1, 2005, and
1 27 ending June 30, 2015, there is appropriated to the
1 28 department of economic development each fiscal year
1 29 fifty million dollars from the general fund of the
1 30 state for deposit in the grow Iowa values fund.
1 31 Sec. . NEW SECTION. 15G.111 APPROPRIATIONS.
1 32 1. a. For the fiscal period beginning July 1,
1 33 2005, and ending June 30, 2015, there is appropriated
1 34 each fiscal year from the grow Iowa values fund
1 35 created in section 15G.108, if enacted, to the
1 36 department of economic development thirty=five million
1 37 dollars for programs administered by the department of
1 38 economic development.
1 39 b. Each year that moneys are appropriated under
1 40 this subsection, the department shall allocate a
1 41 percentage of the moneys for each of the following
1 42 types of activities:
1 43 (1) Business start=ups.
1 44 (2) Business expansion.
1 45 (3) Business modernization.
1 46 (4) Business attraction.
1 47 (5) Business retention.
1 48 (6) Marketing.
1 49 (7) Research and development.
1 50 c. The department shall require an applicant for
2 1 moneys appropriated under this subsection to include
2 2 in the application a statement regarding the intended
2 3 return on investment. A recipient of moneys
2 4 appropriated under this subsection shall annually
2 5 submit a statement to the department regarding the
2 6 progress achieved on the intended return on investment
2 7 stated in the application. The department, in
2 8 cooperation with the department of revenue, shall
2 9 develop a method of identifying and tracking each new
2 10 job created and the leveraging of moneys through
2 11 financial assistance from moneys appropriated under
2 12 this subsection. The department of economic
2 13 development shall identify research and development
2 14 activities funded through financial assistance from
2 15 not more than ten percent of the moneys appropriated
2 16 under this subsection, and, instead of determining
2 17 return on investment and job creation for the
2 18 identified funding, determine the potential impact on
2 19 the state's economy.
2 20 d. The department may use moneys appropriated
2 21 under this subsection to procure technical assistance
2 22 from either the public or private sector, for
2 23 information technology purposes, for a statewide labor
2 24 shed study, and for rail, air, or river port
2 25 transportation=related purposes. The use of moneys
2 26 appropriated for rail, air, or river port
2 27 transportation=related purposes must be directly
2 28 related to an economic development project and the
2 29 moneys must be used to leverage other financial
2 30 assistance moneys.
2 31 e. Of the moneys appropriated under this
2 32 subsection, the department may use up to one and one=
2 33 half percent for administrative purposes.
2 34 f. The Iowa economic development board shall
2 35 approve or deny applications for financial assistance
2 36 provided with moneys appropriated under this
2 37 subsection. In providing such financial assistance,
2 38 the board shall, whenever possible, coordinate the
2 39 assistance with other programs administered by the
2 40 department of economic development, including the
2 41 community economic betterment program established in
2 42 section 15.317 and the value=added agricultural
2 43 products and processes financial assistance program
2 44 established in section 15E.111.
2 45 g. It is the policy of this state to expand and
2 46 stimulate the state economy by advancing, promoting,
2 47 and expanding biotechnology industries in this state.
2 48 To implement this policy, the Iowa economic
2 49 development board shall consider providing assistance
2 50 to projects that increase value=added income to
3 1 individuals or organizations involved in agricultural
3 2 business or biotechnology projects. Such a project
3 3 need not create jobs specific to the project site;
3 4 however, such a project must foster the knowledge and
3 5 creativity necessary to promote the state's
3 6 agricultural economy and to increase employment in
3 7 urban and rural areas as a result.
3 8 2. For the fiscal period beginning July 1, 2005,
3 9 and ending June 30, 2015, there is appropriated each
3 10 fiscal year from the grow Iowa values fund created in
3 11 section 15G.108, if enacted, to the department of
3 12 economic development five million dollars for the
3 13 following:
3 14 a. For financial assistance to institutions of
3 15 higher learning under the control of the state board
3 16 of regents and to accredited private universities in
3 17 this state for infrastructure projects and programs
3 18 needed to assist in the implementation of activities
3 19 under chapter 262B.
3 20 b. For financial assistance to a single
3 21 biosciences development organization determined by the
3 22 department to possess expertise in promoting the area
3 23 of bioscience entrepreneurship. The organization must
3 24 be composed of representatives of both the public and
3 25 the private sector and shall be composed of subunits
3 26 or subcommittees in the areas of existing identified
3 27 biosciences platforms, education and workforce
3 28 development, commercialization, communication, policy
3 29 and governance, and finance. Such financial
3 30 assistance shall be used for purposes of activities
3 31 related to biosciences and bioeconomy development
3 32 under chapter 262B, if so amended.
3 33 3. For the fiscal period beginning July 1, 2005,
3 34 and ending June 30, 2015, there is appropriated each
3 35 fiscal year from the grow Iowa values fund created in
3 36 section 15G.108, if enacted, to the general fund of
3 37 the state four million dollars for payment of tax
3 38 credits approved pursuant to section 404A.4, if so
3 39 amended, for projects located in certified cultural
3 40 and entertainment districts.
3 41 4. For the fiscal period beginning July 1, 2005,
3 42 and ending June 30, 2015, there is appropriated each
3 43 fiscal year from the grow Iowa values fund created in
3 44 section 15G.108, if enacted, to the department of
3 45 economic development one million dollars for purposes
3 46 of providing financial assistance for projects in
3 47 targeted state parks, state banner parks, and
3 48 destination parks. The department of natural
3 49 resources shall submit a plan to the department of
3 50 economic development for the expenditure of moneys
4 1 appropriated under this subsection. The plan shall
4 2 focus on improving state parks, state banner parks,
4 3 and destination parks for economic development
4 4 purposes. Based on the report submitted, the
4 5 department of economic development shall provide
4 6 financial assistance to the department of natural
4 7 resources for support of state parks, state banner
4 8 parks, and destination parks. For purposes of this
4 9 subsection, "state banner park" means a park with
4 10 multiple uses and which focuses on the economic
4 11 development benefits of a community or area of the
4 12 state.
4 13 5. For the fiscal period beginning July 1, 2005,
4 14 and ending June 30, 2015, there is appropriated each
4 15 fiscal year from the grow Iowa values fund created in
4 16 section 15G.108, if enacted, to the office of the
4 17 treasurer of state one million dollars for deposit in
4 18 the Iowa cultural trust fund created in section
4 19 303A.4.
4 20 6. For the fiscal period beginning July 1, 2005,
4 21 and ending June 30, 2015, there is appropriated each
4 22 fiscal year from the grow Iowa values fund created in
4 23 section 15G.108, if enacted, to the department of
4 24 economic development seven million dollars for deposit
4 25 into the workforce training and economic development
4 26 funds of the community colleges created pursuant to
4 27 section 260C.18A.
4 28 7. For the fiscal period beginning July 1, 2005,
4 29 and ending June 30, 2015, there is appropriated each
4 30 fiscal year from the grow Iowa values fund created in
4 31 section 15G.108, if enacted, to the general fund of
4 32 the state four hundred thousand dollars for payment of
4 33 endow Iowa tax credits approved pursuant to section
4 34 15E.305, if so amended, and for new small business
4 35 development center assistance as provided in this
4 36 subsection.
4 37 8. a. For the fiscal period beginning July 1,
4 38 2005, and ending June 30, 2015, there is appropriated
4 39 each fiscal year from the grow Iowa values fund
4 40 created in section 15G.108, if enacted, to the
4 41 department of economic development one million dollars
4 42 for providing economic development region financial
4 43 assistance under section 15E.232, subsections 3, 4, 5,
4 44 and 6, if enacted, and under section 15E.233, if
4 45 enacted.
4 46 b. Of the moneys appropriated in this subsection,
4 47 the department shall transfer three hundred fifty
4 48 thousand dollars each fiscal year for the fiscal
4 49 period beginning July 1, 2005, and ending June 30,
4 50 2015, to Iowa state university of science and
5 1 technology, for purposes of providing financial
5 2 assistance to establish small business development
5 3 centers in areas of the state previously served by a
5 4 small business development center and to maintain
5 5 existing small business development centers.
5 6 Financial assistance for a small business development
5 7 center shall not be awarded unless the city of county
5 8 where the center is located or scheduled to be located
5 9 demonstrates the ability to obtain local matching
5 10 moneys on a dollar=for=dollar basis. An award of
5 11 financial assistance to a small business development
5 12 center under this paragraph shall not exceed twenty
5 13 thousand dollars.
5 14 c. Of the moneys appropriated under this
5 15 subsection, the department may use up to fifty
5 16 thousand dollars each fiscal year during the fiscal
5 17 period beginning July 1, 2005, and ending June 30,
5 18 2015, for purposes of providing training, materials,
5 19 and assistance to Iowa business resource centers.
5 20 9. For the fiscal period beginning July 1, 2005,
5 21 and ending June 30, 2015, there is appropriated each
5 22 fiscal year from the grow Iowa values fund created in
5 23 section 15G.108, if enacted, to the general fund of
5 24 the state two million dollars for payment of economic
5 25 development region revolving fund contribution tax
5 26 credits approved pursuant to section 15E.232, if
5 27 enacted.
5 28 10. Notwithstanding section 8.33, moneys that
5 29 remain unexpended at the end of a fiscal year shall
5 30 not revert to any fund but shall remain available for
5 31 expenditure for the designated purposes during the
5 32 succeeding fiscal year.>>
5 33 #2. By renumbering as necessary.
5 34
5 35
5 36
5 37 HOFFMAN of Crawford
5 38 HF 809.709 81
5 39 tm/gg/2874
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