Senate
File
2044
-
Introduced
SENATE
FILE
2044
BY
OLIVE
and
STEWART
A
BILL
FOR
An
Act
relating
to
the
requirements
of
businesses
seeking
1
financial
assistance
under
the
value-added
agriculture
2
component
of
the
grow
Iowa
values
financial
assistance
3
program
and
including
applicability
provisions.
4
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
5
TLSB
5452SS
(8)
83
tw/sc
S.F.
2044
Section
1.
Section
15G.112,
subsection
8,
paragraph
a,
Code
1
Supplement
2009,
is
amended
to
read
as
follows:
2
a.
In
order
to
qualify
for
financial
assistance
under
the
3
value-added
agriculture
component
of
the
program,
a
business
4
shall
be
:
5
(1)
Be
a
production
facility
engaged
in
the
process
of
6
adding
value
to
agricultural
products.
Projects
considered
7
eligible
under
this
subsection
include
but
are
not
limited
to
8
innovative
agricultural
products
and
processes,
innovative
9
and
new
renewable
fuels,
agricultural
biotechnology,
biomass
10
and
alternative
energy
production,
and
organic
products
and
11
emerging
markets.
Financial
assistance
is
available
for
12
project
development
as
well
as
project
creation.
13
(2)
Meet
the
requirements
of
subsection
4.
14
Sec.
2.
APPLICABILITY.
This
Act
applies
to
agreements
15
entered
into
on
or
after
July
1,
2010.
16
EXPLANATION
17
This
bill
relates
to
the
requirements
of
businesses
applying
18
for
financial
assistance
under
the
value-added
agriculture
19
component
of
the
grow
Iowa
values
fund.
20
Currently,
the
value-added
agriculture
component
does
not
21
require
applicants
to
meet
the
requirements
of
the
130
percent
22
wage
component.
The
130
percent
wage
component
requires
23
applicants
to
create
or
retain
jobs
as
part
of
a
project
and
24
to
meet
certain
wage
thresholds
by
certain
times.
Businesses
25
that
are
creating
jobs
must
initially
pay
100
percent
of
the
26
qualifying
wage
threshold
and,
by
the
end
of
the
period
set
by
27
agreement
with
the
department,
must
pay
at
least
130
percent.
28
Businesses
retaining
jobs
must
pay
130
percent
both
initially
29
and
during
the
period
covered
by
its
agreement.
30
The
bill
requires
value-added
agriculture
component
31
applicants
to
meet
the
same
requirements
as
applicants
under
32
the
130
percent
wage
component
of
the
program.
The
bill
also
33
makes
certain
other
related
provisions
of
the
130
percent
34
wage
component
applicable
for
purposes
of
the
value-added
35
-1-
LSB
5452SS
(8)
83
tw/sc
1/
2
S.F.
2044
agriculture
component.
1
The
bill
applies
to
agreements
entered
into
on
or
after
July
2
1,
2010.
3
-2-
LSB
5452SS
(8)
83
tw/sc
2/
2