House File 434 - 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 distribution and reporting requirements for 2 endow Iowa grants and county endowment moneys. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2583HH 83 5 tw/nh/5 PAG LIN 1 1 Section 1. Section 15E.304, subsection 3, Code 2009, is 1 2 amended to read as follows: 1 3 3. Endow Iowa grants awarded to new and existing endow 1 4 Iowa qualified community foundations and to community 1 5 affiliate organizations shall not exceed twenty=five thousand 1 6 dollars per foundation or organization unless a foundation or 1 7 organization demonstrates a multiple county or regional 1 8 approach. Endow Iowa grants may be awarded on an annual basis 1 9 with not more than three grants going to one county in a 1 10 fiscal year. A recipient of an endow Iowa grant shall invest 1 11 at least fifteen percent of the grant to benefit a census 1 12 tract where ten percent or more of the population in the 1 13 census tract is at or below the family poverty rate based on 1 14 the 2000 census or, if no such census tract exists in the 1 15 county where the recipient is located, at least fifteen 1 16 percent of the grant shall be invested to benefit the census 1 17 tract with the highest percentage of the population at or 1 18 below the family poverty rate. 1 19 Sec. 2. Section 15E.311, subsection 3, paragraph a, Code 1 20 2009, is amended to read as follows: 1 21 a. At the end of each fiscal year, moneys in the fund 1 22 shall be transferred into separate accounts within the fund 1 23 and designated for use by each county in which no licensee 1 24 authorized to conduct gambling games under chapter 99F was 1 25 located during that fiscal year. Moneys transferred to county 1 26 accounts shall be divided equally among the counties. Moneys 1 27 transferred into an account for a county shall be transferred 1 28 by the department to an eligible county recipient for that 1 29 county. Of the moneys transferred, an eligible county 1 30 recipient shall distribute seventy=five percent of the moneys 1 31 as grants to charitable organizations for charitable purposes 1 32 in that county and shall retain twenty=five percent of the 1 33 moneys for use in establishing a permanent endowment fund for 1 34 the benefit of charitable organizations for charitable 1 35 purposes. Of the amounts distributed, eligible county 2 1 recipients shall give special consideration to grants for 2 2 projects that include significant vertical infrastructure 2 3 components designed to enhance quality of life aspects within 2 4 local communities. In addition, eligible county recipients 2 5 shall submit an annual report to the department listing the 2 6 charitable organizations receiving grants, and the amounts 2 7 received, during the previous fiscal year. The department 2 8 shall make each report available to the public. In addition, 2 9 as a condition of receiving a grant, the governing body of a 2 10 charitable organization receiving a grant shall approve all 2 11 expenditures of grant moneys and shall allow a state audit of 2 12 expenditures of all grant moneys. Of the seventy=five percent 2 13 distributed as grants by the eligible county recipient, at 2 14 least fifteen percent shall be invested to benefit a census 2 15 tract where ten percent or more of the population in the 2 16 census tract is at or below the family poverty rate based on 2 17 the 2000 census or, if no such census tract exists in the 2 18 eligible county recipient's county, at least fifteen percent 2 19 shall be invested to benefit the census tract with the highest 2 20 percentage of the population at or below the family poverty 2 21 rate. 2 22 EXPLANATION 2 23 This bill relates to distribution and reporting 2 24 requirements for endow Iowa grants and county endowment 2 25 moneys. 2 26 The bill provides that a recipient of an endow Iowa grant 2 27 shall invest at least 15 percent of the grant to benefit a 2 28 census tract where 10 percent or more of the population in the 2 29 census tract is at or below the family poverty rate or, if no 2 30 such census tract exists in the county where the recipient is 2 31 located, at least 15 percent of the grant shall be invested to 2 32 benefit the census tract with the highest percentage of the 2 33 population at or below the family poverty rate. 2 34 The bill requires eligible county recipients of county 2 35 endowment moneys to submit an annual report to the department 3 1 of economic development listing the charitable organizations 3 2 receiving grants, and the amounts received during the previous 3 3 fiscal year. The bill provides that, of moneys distributed in 3 4 the form of grants by the eligible county recipient, at least 3 5 15 percent shall be invested to benefit a census tract where 3 6 10 percent or more of the population in the census tract is at 3 7 or below the family poverty rate or, if no such census tract 3 8 exists in the eligible county recipient's county, at least 15 3 9 percent shall be invested to benefit the census tract with the 3 10 highest percentage of the population at or below the family 3 11 poverty rate. 3 12 LSB 2583HH 83 3 13 tw/nh/5