House Amendment 1594


PAG LIN




     1  1    Amend House File 890 as follows:
     1  2 #1.  Page 1, by inserting after line 30 the
     1  3 following:
     1  4    <Sec.    .  Section 12.43, subsection 5, unnumbered
     1  5 paragraph 1, Code 2007, is amended to read as follows:
     1  6    In order to qualify under this program, all owners
     1  7 of the business or borrowers must not have a combined
     1  8 net worth exceeding seven one million five hundred
     1  9 fifty thousand dollars as defined in rules adopted by
     1 10 the treasurer of state pursuant to chapter 17A and the
     1 11 small business must meet all of the following
     1 12 criteria:
     1 13    Sec.    .  Section 12.43, subsection 5, paragraph
     1 14 b, Code 2007, is amended to read as follows:
     1 15    b.  If an application involves an existing business
     1 16 or the transfer of an existing business to a new
     1 17 owner, the business must have annual gross sales of
     1 18 two four million dollars or less at the time the
     1 19 application is submitted under section 12.35.>
     1 20 #2.  By renumbering as necessary.
     1 21
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     1 23                               
     1 24 LUKAN of Dubuque
     1 25 HF 890.702 82
     1 26 tm/gg/8462
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