House File 261 - Introduced



                                       HOUSE FILE       
                                       BY  PAULSEN


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

                                      A BILL FOR

  1 An Act directing the department of economic development to
  2    allocate moneys for small business disaster recovery and
  3    including a retroactive applicability date.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1066YH 83
  6 tw/rj/14

PAG LIN



  1  1    Section 1.  SMALL BUSINESS DISASTER RECOVERY ASSISTANCE ==
  1  2 VALUES FUND ALLOCATION.  Of the moneys appropriated to the
  1  3 department of economic development for the fiscal year
  1  4 beginning July 1, 2008, and ending June 30, 2009, pursuant to
  1  5 section 15G.111, subsection 1, paragraph "a", subparagraph
  1  6 (1), Code 2009, the department shall allocate fifteen million
  1  7 dollars for purposes of small business disaster recovery
  1  8 assistance.
  1  9    Sec. 2.  EFFECTIVE DATE AND RETROACTIVE APPLICABILITY
  1 10 PROVISION.  This Act, being deemed of immediate importance,
  1 11 takes effect upon enactment and applies retroactively to July
  1 12 1, 2008.
  1 13                           EXPLANATION
  1 14    This bill relates to the allocation of moneys in the grow
  1 15 Iowa values fund by the department of economic development.
  1 16 Fifty million dollars is currently appropriated from either
  1 17 the general fund of the state or the rebuild Iowa
  1 18 infrastructure fund to the grow Iowa values fund each fiscal
  1 19 year for the fiscal period beginning July 1, 2005, and ending
  1 20 June 30, 2015.  For certain fiscal years within that fiscal
  1 21 period, the department is directed to allocate a certain
  1 22 amount for designated activities and programs the department
  1 23 administers.  For each fiscal year of the fiscal period
  1 24 beginning July 1, 2007, and ending June 30, 2009, the
  1 25 department must allocate $30 million of the moneys in the grow
  1 26 Iowa values fund for these programs.
  1 27    The bill provides that $15 million of that $30 million
  1 28 (coming from the rebuild Iowa infrastructure fund) for the
  1 29 2008=2009 fiscal year shall be allocated by the department for
  1 30 purposes of small business disaster recovery.
  1 31    The bill takes effect upon enactment and applies
  1 32 retroactively to July 1, 2008.
  1 33 LSB 1066YH 83
  1 34 tw/rj/14