Senate Study Bill 1204 



                                       SENATE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            REBUILD IOWA BILL BY
                                            CHAIRPERSON HOGG)


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

                                      A BILL FOR

  1 An Act providing for the waiver of wage and benefits requirements
  2    in certain economic development programs and including
  3    effective and retroactive applicability date provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 2303SC 83
  6 tw/rj/5

PAG LIN



  1  1    Section 1.  ECONOMIC DEVELOPMENT WAGE AND BENEFIT WAIVERS.
  1  2    1.  For each fiscal year of the fiscal period beginning
  1  3 July 1, 2008, and ending June 30, 2010, the department of
  1  4 economic development may waive the minimum wage and benefits
  1  5 requirements for a business eligible for financial assistance
  1  6 under any of the programs the department administers which
  1  7 include such requirements if the eligible business is located
  1  8 in an area declared a disaster area by the governor or by a
  1  9 federal official, and if the business sustained physical
  1 10 damage as a result of a natural disaster occurring during the
  1 11 calendar year 2008.
  1 12    2.  The wage and benefits requirements to which this Act
  1 13 applies include but are not limited to the wage and benefits
  1 14 requirements of the high quality job creation program, the
  1 15 enterprise zones program, and all programs funded through the
  1 16 grow Iowa values fund to which the wage and benefits
  1 17 requirements of section 15G.112 apply.
  1 18    Sec. 2.  EFFECTIVE AND RETROACTIVE APPLICABILITY DATES.
  1 19 This Act, being deemed of immediate importance, takes effect
  1 20 upon enactment and applies retroactively to July 1, 2008.
  1 21                           EXPLANATION
  1 22    This bill authorizes the department of economic development
  1 23 to waive the wage and benefits requirements of its financial
  1 24 assistance programs for eligible businesses located in
  1 25 disaster areas and which sustained physical damage as a result
  1 26 of the natural disasters of 2008.
  1 27    The bill takes effect upon enactment and applies
  1 28 retroactively to July 1, 2008.
  1 29 LSB 2303SC 83
  1 30 tw/rj/5.1