House File 2155 - Introduced
HOUSE FILE
BY WISE, BERRY, MILLER, D. OLSON,
GASKILL, SHOMSHOR, WESSEL=KROESCHELL,
McCARTHY, WHITEAD, SCHUELLER, BELL,
HUSER, R. OLSON, COHOON, DANDEKAR,
SWAIM, KUHN, JOCHUM, MASCHER,
WINCKLER, LENSING, MERTZ, D. TAYLOR,
REICHERT, BUKTA, MURPHY, FREVERT,
WHITAKER, LYKAM, JACOBY, HUNTER,
SHOULTZ, and FOEGE
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to alternative and renewable energy for purposes
2 of economic development.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 5570HH 81
5 tm/gg/14
PAG LIN
1 1 Section 1. Section 15.103, subsection 1, paragraph b,
1 2 subparagraph (7), Code Supplement 2005, is amended to read as
1 3 follows:
1 4 (7) Economics or alternative and renewable energy.
1 5 Sec. 2. Section 15E.61, unnumbered paragraph 1, Code 2005,
1 6 is amended to read as follows:
1 7 The general assembly finds the following: Fundamental
1 8 changes have occurred in national and international financial
1 9 markets and in the financial markets of this state. A
1 10 critical shortage of seed and venture capital resources exists
1 11 in the state, and such shortage is impairing the growth of
1 12 commerce in the state. A need exists to increase the
1 13 availability of venture equity capital for emerging,
1 14 expanding, and restructuring enterprises in Iowa, including,
1 15 without limitation, enterprises in the life sciences, advanced
1 16 manufacturing, information technology, alternative and
1 17 renewable energy, and value=added agriculture areas. Such
1 18 investments will create jobs for Iowans and will help to
1 19 diversify the state's economic base.
1 20 Sec. 3. Section 15E.223, subsection 4, Code 2005, is
1 21 amended to read as follows:
1 22 4. "Targeted industry business" means an existing or
1 23 proposed business entity, including an emerging small business
1 24 or qualified business which is operated for profit and which
1 25 has a primary business purpose of doing business in at least
1 26 one of the targeted industries designated by the department
1 27 which include life sciences, software and information
1 28 technology, advanced manufacturing, value=added agriculture,
1 29 alternative and renewable energy, and any other industry
1 30 designated as a targeted industry by the department.
1 31 Sec. 4. Section 15E.231, subsection 1, Code Supplement
1 32 2005, is amended by adding the following new paragraph:
1 33 NEW PARAGRAPH. h. Development of the alternative and
1 34 renewable energy sector.
1 35 Sec. 5. Section 15E.351, subsection 1, Code Supplement
2 1 2005, is amended to read as follows:
2 2 1. The department shall establish and administer a
2 3 business accelerator program to provide financial assistance
2 4 for the establishment and operation of a business accelerator
2 5 for technology=based, value=added agricultural, information
2 6 solutions, alternative and renewable energy, or advanced
2 7 manufacturing start=up businesses or for a satellite of an
2 8 existing business accelerator. The program shall be designed
2 9 to foster the accelerated growth of new and existing
2 10 businesses through the provision of technical assistance. The
2 11 department shall use moneys appropriated to the department
2 12 from the grow Iowa values fund pursuant to section 15G.111,
2 13 subsection 1, subject to the approval of the economic
2 14 development board, to provide financial assistance under this
2 15 section.
2 16 Sec. 6. Section 260C.18A, subsection 2, unnumbered
2 17 paragraph 1, Code Supplement 2005, is amended to read as
2 18 follows:
2 19 Moneys deposited in the funds and disbursed to community
2 20 colleges for a fiscal year shall be expended for the following
2 21 purposes, provided seventy percent of the moneys shall be used
2 22 on projects in the areas of advanced manufacturing,
2 23 information technology and insurance, alternative and
2 24 renewable energy, and life sciences which include the areas of
2 25 biotechnology, health care technology, and nursing care
2 26 technology:
2 27 EXPLANATION
2 28 This bill relates to alternative and renewable energy for
2 29 purposes of economic development.
2 30 Currently, members of the Iowa economic development board
2 31 represent certain areas of expertise, one of which is
2 32 economics. The bill provides that expertise in alternative
2 33 and renewable energy may be represented in lieu of the
2 34 economics area of expertise.
2 35 The bill adds alternative and renewable energy to lists of
3 1 targeted industries as they appear in the Code. Such lists
3 2 are included under the Iowa fund of funds, in the loan and
3 3 credit guarantee program, as a possibility for regional
3 4 development plans, under the business accelerator program, and
3 5 as part of the workforce training and economic development
3 6 funds.
3 7 LSB 5570HH 81
3 8 tm:nh/gg/14