House File 364 - Introduced



                                       HOUSE FILE       
                                       BY  FORD


    Passed House,  Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the allocation of a portion of the moneys
  2    appropriated to the department of economic development from
  3    the grow Iowa values fund for purposes of businesses owned,
  4    operated, and managed by minorities and providing a contingent
  5    effective date.
  6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  7 TLSB 2056HH 81
  8 tm/cf/24

PAG LIN



  1  1    Section 1.  NEW SECTION.  15E.321  MINORITY BUSINESS
  1  2 ASSISTANCE.
  1  3    From all moneys appropriated to the department from the
  1  4 grow Iowa values fund, the department shall establish a goal
  1  5 of awarding at least seven percent of the moneys each fiscal
  1  6 year in the form of financial assistance to businesses which
  1  7 are at least fifty=one percent or more owned, operated, and
  1  8 actively managed by one or more minority persons, as defined
  1  9 in section 15.102.
  1 10    Sec. 2.  CONTINGENT EFFECTIVENESS.  This Act takes effect
  1 11 upon the enactment of legislation creating the grow Iowa
  1 12 values fund and board by the general assembly during the 2005
  1 13 legislative session.
  1 14                           EXPLANATION
  1 15    This bill provides that from all moneys appropriated to the
  1 16 department of economic development from the grow Iowa values
  1 17 fund, the department shall establish a goal of awarding at
  1 18 least 7 percent of the moneys each fiscal year in the form of
  1 19 financial assistance to businesses which are at least 51
  1 20 percent or more owned, operated, and actively managed by one
  1 21 or more minority persons.
  1 22    The bill takes effect upon enactment of legislation
  1 23 creating a grow Iowa values fund and board during the 2005
  1 24 legislative session.
  1 25 LSB 2056HH 81
  1 26 tm:nh/cf/24