Senate
File
445
-
Introduced
SENATE
FILE
445
BY
COMMITTEE
ON
ECONOMIC
GROWTH
(SUCCESSOR
TO
SF
286)
A
BILL
FOR
An
Act
establishing
a
business
accelerator
program
administered
1
through
the
economic
development
authority
for
women-owned
2
businesses
in
the
state
and
making
appropriations.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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445
Section
1.
WOMEN-OWNED
BUSINESS
ACCELERATOR
PROGRAM
AND
1
APPROPRIATION.
2
1.
There
is
appropriated
from
the
general
fund
of
the
state
3
to
the
Iowa
economic
development
authority
for
the
following
4
fiscal
years,
the
following
amounts,
or
so
much
thereof
as
is
5
necessary,
to
be
used
for
the
purpose
designated:
6
To
develop
a
business
accelerator
program
and
provide
7
related
assistance
for
Iowa
businesses
owned
by
women:
8
a.
FY
2015-2016:
9
.
.
.
.
.
.
.
.
.
.
.
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.
.
$
450,000
10
b.
FY
2016-2017:
11
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
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.
$
450,000
12
2.
From
the
moneys
appropriated
pursuant
to
this
section,
13
the
economic
development
authority
shall
procure
the
services
14
of
a
nonprofit
Iowa
entity
to
establish,
develop,
and
15
maintain
a
business
accelerator
program
for
Iowa
businesses
16
owned
by
women
and
to
provide
related
services.
Under
a
17
business
accelerator
program
authorized
pursuant
to
this
18
section,
an
entity
shall
provide
Iowa
women-owned
businesses
19
long-term,
individualized
technical
assistance
and
also
20
provide
advanced
business
and
market
intelligence
which
assists
21
women-owned
businesses
in
identifying
market,
product,
or
22
service
development
opportunities.
The
entity
establishing
23
the
business
accelerator
program
shall
also
develop,
in
24
consultation
with
the
economic
development
authority,
an
25
internet
site
offering
equity
investment
opportunities
for
Iowa
26
women
to
fund
other
Iowa
women
in
business.
27
3.
The
economic
development
authority
shall
begin
a
request
28
for
proposals
process,
issued
for
purposes
of
this
section,
no
29
later
than
September
1,
2015.
30
4.
The
nonprofit
entity
providing
services
pursuant
to
this
31
section
shall
report
on
the
progress
of
the
program
and
future
32
needs
of
women-owned
businesses
in
the
state
to
the
general
33
assembly
and
the
economic
development
authority
by
July
1,
34
2017.
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5.
Notwithstanding
section
8.33,
moneys
appropriated
in
1
this
section
that
remain
unencumbered
or
unobligated
at
the
2
close
of
the
fiscal
year
shall
not
revert
but
shall
remain
3
available
for
expenditure
for
the
purposes
designated
until
the
4
close
of
the
succeeding
fiscal
year.
5
EXPLANATION
6
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
7
the
explanation’s
substance
by
the
members
of
the
general
assembly.
8
This
bill
establishes
a
business
accelerator
program
for
9
women-owned
businesses
in
the
state.
The
bill
appropriates
10
$450,000
for
both
fiscal
year
2015-2016
and
fiscal
year
11
2016-2017
to
the
economic
development
authority
for
the
12
development
of
a
business
accelerator
program
and
other
related
13
assistance
for
Iowa
businesses
owned
by
women.
The
bill
14
requires
the
economic
development
authority
to
procure
the
15
services
of
a
nonprofit
Iowa
entity
to
establish
the
program.
16
Through
the
program,
the
nonprofit
entity
must
provide
17
women-owned
Iowa
businesses
long-term,
technical
assistance
18
as
well
as
advanced
business
and
market
intelligence.
The
19
bill
requires
the
nonprofit
entity
to
develop
an
internet
20
site
offering
equity
investment
opportunities
for
Iowa
women
21
to
fund
other
Iowa
women
in
business.
The
bill
states
that
22
the
economic
development
authority
shall
begin
a
request
for
23
proposals
process
by
September
1,
2015.
The
nonprofit
entity
24
is
required
to
report
to
the
general
assembly
on
the
program
by
25
July
1,
2017.
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