House File 15 - Introduced HOUSE FILE 15 BY MURPHY A BILL FOR An Act relating to small business development by making 1 an appropriation to match a federal grant and including 2 effective and retroactive applicability date provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 1108YH (2) 85 ad/nh

H.F. 15 Section 1. ECONOMIC DEVELOPMENT AUTHORITY —— SMALL BUSINESS 1 DEVELOPMENT APPROPRIATION. 2 1. There is appropriated from the general fund of the state 3 to the economic development authority for the fiscal year 4 beginning July 1, 2012, and ending June 30, 2013, the following 5 amount, or so much thereof as is necessary, to be used for the 6 purposes designated: 7 For matching the federal grant for the state small business 8 credit initiative: 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 13,168,350 10 Of the moneys appropriated in this subsection, $8,000,000, 11 or so much thereof as is necessary, shall be used for the Iowa 12 small business loan support program. 13 2. Notwithstanding section 8.33, moneys appropriated in 14 this section that remain unencumbered or unobligated at the 15 close of the fiscal year beginning July 1, 2012, and ending 16 June 30, 2013, shall not revert but shall remain available for 17 expenditure for the purposes designated until the close of the 18 succeeding fiscal year beginning July 1, 2013, and ending June 19 30, 2014. 20 Sec. 2. EFFECTIVE UPON ENACTMENT. This Act, being deemed of 21 immediate importance, takes effect upon enactment. 22 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies 23 retroactively to July 1, 2012. 24 EXPLANATION 25 This bill appropriates funds to the economic development 26 authority to match a federal grant for the state small business 27 credit initiative (SSBCI). The bill appropriates approximately 28 $13.2 million to match the federal grant for the SSBCI. Of 29 the state money appropriated for the SSBCI, the bill provides 30 that $8 million shall be used for the Iowa small business 31 loan support program. The bill provides that the moneys 32 appropriated are not subject to reversion and remain available 33 for expenditure for the purposes designated for the succeeding 34 fiscal year. The bill is effective upon enactment and applies 35 -1- LSB 1108YH (2) 85 ad/nh 1/ 2

H.F. 15 retroactively to July 1, 2012. 1 -2- LSB 1108YH (2) 85 ad/nh 2/ 2