House File 122 - Introduced
HOUSE FILE
BY DANDEKAR, JACOBS, PETERSEN,
HUSER, and UPMEYER
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act creating a women entrepreneurs in business program.
2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
3 TLSB 1969HH 81
4 tm/gg/14
PAG LIN
1 1 Section 1. Section 15.313, subsection 2, Code 2005, is
1 2 amended by adding the following new paragraph:
1 3 NEW PARAGRAPH. h. To provide technical and financial
1 4 assistance to participants in the women entrepreneurs in
1 5 business program under section 15.393.
1 6 Sec. 2. NEW SECTION. 15.391 SHORT TITLE.
1 7 This part shall be known and may be cited as the "Women
1 8 Entrepreneurs in Business Program".
1 9 Sec. 3. NEW SECTION. 15.392 DEFINITIONS.
1 10 As used in this part, unless the context otherwise
1 11 requires:
1 12 1. "Early=stage industry company" means a company with
1 13 three years or less of experience in a particular industry.
1 14 2. "Program" means the women entrepreneurs in business
1 15 program established in section 15.393.
1 16 Sec. 4. NEW SECTION. 15.393 WOMEN ENTREPRENEURS IN
1 17 BUSINESS PROGRAM.
1 18 1. The department shall establish and administer a program
1 19 to provide financial and technical assistance to early=stage
1 20 industry companies being established by women entrepreneurs.
1 21 The program shall encourage the development of entrepreneurial
1 22 venture planning and managerial skills in such women
1 23 entrepreneurs in conjunction with the delivery of a financial
1 24 assistance program for business startups and expansions.
1 25 2. An eligible applicant under the program is an
1 26 individual who is participating in or has successfully
1 27 completed a recognized entrepreneurial venture development
1 28 curriculum, or a business whose principal participants have
1 29 successfully completed a recognized entrepreneurial venture
1 30 development curriculum as determined by the department. The
1 31 department of inspections and appeals, in cooperation with the
1 32 department of economic development, shall certify that the
1 33 business is fifty=one percent or more owned, operated, and
1 34 actively managed by one or more women.
1 35 3. Each application for financial or technical assistance
2 1 submitted to the department must include a business plan, a
2 2 marketing plan, a budget, and a statement of purpose stating
2 3 how any financial assistance received will be used.
2 4 4. Unless otherwise authorized by the director, the
2 5 department shall not provide more than five thousand dollars
2 6 of technical assistance per project and shall not provide more
2 7 than a total of twenty thousand dollars in financial
2 8 assistance per project.
2 9 5. In addition to moneys appropriated for the program, the
2 10 department may allocate moneys from the Iowa strategic
2 11 investment fund under section 15.313 for the administration
2 12 and operation of the program.
2 13 6. The department shall adopt administrative rules
2 14 pursuant to chapter 17A to administer the program.
2 15 EXPLANATION
2 16 This bill creates a women entrepreneurs in business
2 17 program.
2 18 The bill provides that the department of economic
2 19 development shall establish and administer a program to
2 20 provide financial and technical assistance to early=stage
2 21 industry companies being established by women entrepreneurs.
2 22 The bill provides that an eligible applicant under the program
2 23 is an individual who is participating in or has successfully
2 24 completed a recognized entrepreneurial venture development
2 25 curriculum, or a business whose principal participants have
2 26 successfully completed a recognized entrepreneurial venture
2 27 development curriculum as determined by the department of
2 28 economic development. The bill provides that the department
2 29 of inspections and appeals, in cooperation with the department
2 30 of economic development, shall certify that the business is 51
2 31 percent or more owned, operated, and actively managed by one
2 32 or more women. The bill provides that each application for
2 33 financial or technical assistance submitted to the department
2 34 of economic development must include a business plan, a
2 35 marketing plan, a budget, and a statement of purpose stating
3 1 how any financial assistance received will be used.
3 2 The bill provides that, unless otherwise authorized by the
3 3 director, the department of economic development shall not
3 4 provide more than $5,000 of technical assistance per project
3 5 and shall not provide more than a total of $20,000 in
3 6 financial assistance per project. The bill provides that, in
3 7 addition to moneys appropriated for the program, the
3 8 department may allocate moneys from the Iowa strategic
3 9 investment fund for the administration and operation of the
3 10 program.
3 11 LSB 1969HH 81
3 12 tm:rj/gg/14