S.F. 2353 Section 1. Section 15.108, subsection 6, paragraph a, Code 1 2014, is amended to read as follows: 2 a. Coordinate and perform the duties specified under the 3 Iowa industrial new jobs training Act in chapter 260E , the 4 Iowa jobs training Act in chapter 260F , and the workforce 5 development fund in section 15.341 . 6 Sec. 2. NEW SECTION . 256.91 Workforce development fund 7 account. 8 A workforce development fund account is established in 9 the office of the treasurer of state under the control of 10 the department. The account shall receive funds pursuant to 11 section 422.16A up to a maximum of six million dollars per 12 year. 13 Sec. 3. NEW SECTION . 256.92 Workforce development fund. 14 1. a. A workforce development fund is created as a 15 revolving fund in the state treasury under the control of the 16 department consisting of any moneys appropriated by the general 17 assembly for that purpose and any other moneys available to 18 and obtained or accepted by the department from the federal 19 government or private sources for placement in the fund. The 20 fund shall also include moneys appropriated to the fund from 21 the workforce development fund account established in section 22 256.91. 23 b. Notwithstanding section 8.33, moneys in the workforce 24 development fund at the end of each fiscal year shall not 25 revert to any other fund but shall remain in the workforce 26 development fund for expenditure for subsequent fiscal years. 27 2. The assets of the fund shall be used by the department 28 for the following programs and purposes: 29 a. Projects under chapter 260F. 30 b. Apprenticeship programs under chapter 260J. 31 3. Moneys in the workforce development fund shall be 32 allocated as follows: 33 a. Three million dollars shall be transferred and deposited 34 in the job training fund created in section 260F.6 to be used 35 -1- SF 2353 (4) 85 ad/rj/jh 1/ 16

S.F. 2353 for the purposes provided in chapter 260F. 1 b. Three million dollars shall be transferred and deposited 2 in the apprenticeship training program fund created in section 3 260J.3 to be used for the purposes provided in chapter 260J. 4 Sec. 4. Section 260C.18A, subsection 2, paragraph b, Code 5 2014, is amended to read as follows: 6 b. Projects in which an agreement between a community 7 college and a business meet all the requirements of the Iowa 8 jobs training Act under chapter 260F . However, projects funded 9 by moneys provided by a local workforce training and economic 10 development fund of a community college are not subject to 11 the maximum advance or award limitations contained in section 12 260F.6, subsection 2 , or the allocation limitations contained 13 in section 260F.8, subsection 1 . 14 Sec. 5. Section 260F.2, subsection 2, Code 2014, is amended 15 by striking the subsection. 16 Sec. 6. Section 260F.2, subsections 4, 5, 10, and 11, Code 17 2014, are amended to read as follows: 18 4. “Date of commencement of the project” means the date of 19 the preliminary signed agreement or the date an application for 20 assistance is received by the authority . 21 5. “Eligible business” or “business” means a business 22 training employees which is engaged in interstate or intrastate 23 commerce for the purpose of manufacturing, processing, or 24 assembling products, conducting research and development, 25 commercial construction, or providing services in interstate 26 commerce including electronic commerce , but excludes retail, 27 health, or professional services and which meets the other 28 criteria established by the authority department . “Eligible 29 business” does not include a business whose training costs can 30 be economically funded under chapter 260E , a business which 31 closes or substantially reduces its employment base in order 32 to relocate substantially the same operation to another area 33 of the state, or a business which is involved in a strike, 34 lockout, or other labor dispute in Iowa. 35 -2- SF 2353 (4) 85 ad/rj/jh 2/ 16

S.F. 2353 10. “Program services” includes but is not limited to the 1 following: 2 a. Training of employees. 3 b. Adult basic education and job-related instruction. 4 c. Vocational and skill-assessment services and testing. 5 d. Training facilities, equipment, materials, and supplies. 6 e. Administrative expenses incurred by community colleges 7 for the jobs training program , in an amount not to exceed five 8 percent of the total project cost . 9 f. Subcontracted services with institutions governed by the 10 state board of regents, private colleges or universities, or 11 other federal, state, or local agencies. 12 g. Contracted or professional services. 13 11. “Project” means a training arrangement which is the 14 subject of an agreement entered into between the community 15 college and a business to provide program services. “Project” 16 also means an authority-sponsored training arrangement which 17 is sponsored by the authority and administered under sections 18 260F.6A and 260F.6B . 19 Sec. 7. Section 260F.2, Code 2014, is amended by adding the 20 following new subsection: 21 NEW SUBSECTION . 4A. “Department” means the department of 22 education. 23 Sec. 8. Section 260F.3, Code 2014, is amended by adding the 24 following new subsections: 25 NEW SUBSECTION . 4A. Type of training to be delivered. 26 NEW SUBSECTION . 4B. Amount of employer match. 27 Sec. 9. NEW SECTION . 260F.4 Financial assistance —— 28 restrictions. 29 1. The maximum award of financial assistance for any one 30 project is fifty thousand dollars. 31 2. A business may be approved for multiple projects, but the 32 total financial assistance award to a business shall not exceed 33 one hundred thousand dollars within a three-year period. 34 3. An award of financial assistance does not include 35 -3- SF 2353 (4) 85 ad/rj/jh 3/ 16

S.F. 2353 reimbursement to the business for employee wages while the 1 employee is in training. 2 4. An award of financial assistance is based on the actual 3 cost of services. 4 5. A business’s request for financial assistance shall be 5 commensurate with training needs. 6 6. Community colleges shall provide financial assistance to 7 a business on a reimbursement basis or by directly paying for 8 training expenses from an account administered by the community 9 college. 10 7. a. A business shall provide a cash match or in-kind 11 match in order to be eligible for financial assistance pursuant 12 to this section. 13 b. A business requesting financial assistance of less than 14 five thousand dollars for a program shall provide an in-kind 15 match. 16 c. A business requesting financial assistance of five 17 thousand dollars or more for a program shall provide cash to 18 pay at least twenty-five percent of the total project cost, 19 including training and administration costs. 20 d. An in-kind match includes employee wages paid by 21 the business during the training period, the value of 22 business-provided facilities and equipment used for training, 23 or the value of any other resource provided by the business to 24 facilitate the training program. 25 Sec. 10. NEW SECTION . 260F.5 Community college annual 26 report. 27 1. Each community college shall submit an annual report 28 to the department by September 1 documenting the job training 29 programs funded during the previous fiscal year. 30 2. The report shall address the performance metrics 31 established by the department for the job training program 32 pursuant to section 260F.8. 33 3. The report shall be submitted in a manner and form 34 prescribed by the department. 35 -4- SF 2353 (4) 85 ad/rj/jh 4/ 16

S.F. 2353 Sec. 11. Section 260F.6, subsection 1, Code 2014, is amended 1 to read as follows: 2 1. There is established created for the community colleges 3 a job training fund in the economic development authority 4 in the workforce development fund to be administered by 5 the department . The job training fund consists of moneys 6 appropriated for the purposes of this chapter plus the interest 7 and principal from repayment of advances made to businesses 8 for program costs, plus the repayments, including interest, 9 of loans made from that retraining fund, and interest earned 10 from moneys in the job training fund . Moneys in the fund are 11 appropriated to the department for purposes of this chapter. 12 Sec. 12. Section 260F.6, subsections 2 and 3, Code 2014, 13 are amended by striking the subsections and inserting in lieu 14 thereof the following: 15 2. Moneys in the fund shall be allocated pursuant to the 16 formula established in 260C.18C. Any unexpended or unallocated 17 funds remaining in the job training fund allocated for purposes 18 of the business network training program authorized in section 19 260F.6A, Code 2014, as of June 30, 2014, shall be distributed 20 to the community colleges in the manner provided for in this 21 subsection. 22 3. Notwithstanding section 8.33, moneys in the fund at 23 the close of the fiscal year shall not revert to the general 24 fund of the state but shall remain available for expenditure 25 for the purpose designated for subsequent fiscal years. 26 Notwithstanding section 12C.7, subsection 2, interest or 27 earnings on moneys in the fund shall be credited to the fund. 28 Sec. 13. Section 260F.7, Code 2014, is amended to read as 29 follows: 30 260F.7 Economic development authority Department to 31 coordinate. 32 The economic development authority, in consultation with 33 the department of education and the department of workforce 34 development, shall coordinate the jobs training program. A 35 -5- SF 2353 (4) 85 ad/rj/jh 5/ 16

S.F. 2353 project shall not be funded under this chapter unless the 1 economic development authority approves the project. The 2 authority department shall adopt rules pursuant to chapter 3 17A governing the program’s operation and eligibility for 4 participation in the program. The authority department shall 5 establish by rule criteria for determining what constitutes an 6 eligible business. 7 Sec. 14. Section 260F.8, Code 2014, is amended by striking 8 the section and inserting in lieu thereof the following: 9 260F.8 Program assessment, development, and coordination. 10 1. The department shall establish performance metrics for 11 the job training programs funded under this chapter and assess 12 program outcomes on an annual basis. 13 2. A community college may retain up to ten percent of the 14 total project cost for the following purposes: 15 a. Outreach to employers by community college business and 16 industry outreach staff. 17 b. Monitoring the performance of training agreements and 18 accountability measures. 19 c. Development of training project and program plans. 20 d. Business development activities. 21 Sec. 15. NEW SECTION . 260J.1 Title. 22 This chapter shall be known and may be cited as the “Iowa 23 Apprenticeship Act” . 24 Sec. 16. NEW SECTION . 260J.2 Definitions. 25 For purposes of this chapter, unless the context otherwise 26 requires: 27 1. “Apprentice” means a person who is at least sixteen 28 years of age, except where a higher minimum age is required by 29 law, who is employed in an apprenticeable occupation, and is 30 registered in Iowa with the United States department of labor, 31 office of apprenticeship. 32 2. “Apprenticeable occupation” means an occupation approved 33 for apprenticeship by the United States department of labor, 34 office of apprenticeship. 35 -6- SF 2353 (4) 85 ad/rj/jh 6/ 16

S.F. 2353 3. “Apprenticeship program” means a program registered 1 with the United States department of labor, office of 2 apprenticeship, which includes terms and conditions for the 3 qualification, recruitment, selection, employment, and training 4 of apprentices, including the requirement for a written 5 apprenticeship agreement. 6 4. “Apprenticeship sponsor” means an entity operating 7 an apprenticeship program or an entity in whose name an 8 apprenticeship program is being operated, which is registered 9 with or approved by the United States department of labor, 10 office of apprenticeship. 11 4A. “Board” means the apprenticeship training program board 12 established in section 260J.5. 13 5. “Department” means the department of education. 14 6. “Financial assistance” means assistance provided only 15 from the funds, rights, and assets legally available to 16 the department or board and includes but is not limited to 17 assistance in the forms of grants, loans, forgivable loans, and 18 royalty payments. 19 7. “Fund” means the apprenticeship training program fund 20 created in section 260J.3. 21 8. “Lead apprenticeship sponsor” means a trade organization, 22 labor organization, employer association, or other incorporated 23 entity representing a group of apprenticeship sponsors. 24 Sec. 17. NEW SECTION . 260J.3 Apprenticeship training 25 program —— fund. 26 1. An apprenticeship training program fund is created in 27 the state treasury under the control of the department with 28 direction from the board. 29 2. The fund shall consist of moneys deposited in the fund 30 pursuant to section 256.92, moneys appropriated for purposes 31 of the apprenticeship training program, and any other moneys 32 lawfully available to the department for purposes of this 33 chapter. 34 3. Moneys in the fund are appropriated to the department for 35 -7- SF 2353 (4) 85 ad/rj/jh 7/ 16

S.F. 2353 the purposes of this chapter. 1 4. No more than two percent of the total moneys deposited 2 in the fund on July 1 of a fiscal year is appropriated to the 3 department for the purposes of assisting the apprenticeship 4 training program board in administering this chapter. 5 5. Notwithstanding section 8.33, moneys in the fund at 6 the close of the fiscal year shall not revert but shall 7 remain available for expenditure for the purposes designated 8 for subsequent fiscal years. Notwithstanding section 12C.7, 9 subsection 2, interest or earnings on moneys in the fund shall 10 be credited to the fund. 11 Sec. 18. NEW SECTION . 260J.4 Financial assistance for an 12 apprenticeship program. 13 1. a. An apprenticeship sponsor or lead apprenticeship 14 sponsor conducting apprenticeship programs in Iowa for 15 apprentices who will be employed at Iowa worksites may apply to 16 the board for a training grant or an infrastructure grant, or 17 both a training grant and an infrastructure grant under this 18 section. 19 b. Financial assistance received by an apprenticeship 20 sponsor or lead apprenticeship sponsor under this section shall 21 be used only for the cost of conducting and maintaining an 22 apprenticeship program. 23 2. The board shall provide financial assistance in the form 24 of training grants or infrastructure grants to apprenticeship 25 sponsors or lead apprenticeship sponsors in the following 26 manner: 27 a. By determining the total amount of funding allocated 28 for purposes of training grants or infrastructure grants for 29 apprenticeship programs pursuant to section 260J.3. 30 b. By adding together all of the following: 31 (1) The total number of apprentices trained by all applying 32 apprenticeship sponsors or lead apprenticeship sponsors during 33 the most recent training year as calculated on the last day of 34 the training year. 35 -8- SF 2353 (4) 85 ad/rj/jh 8/ 16

S.F. 2353 (2) The total number of contact hours that apprenticeship 1 instructors for all applying apprenticeship sponsors or lead 2 apprenticeship sponsors spent in contact with apprentices 3 during the most recent training year. For purposes of 4 this subparagraph, “contact hours” includes the time spent 5 instructing apprentices in person or, in the case of a lead 6 apprenticeship sponsor with programs totaling one hundred or 7 more total instructional hours, “contact hours” includes the 8 time spent in online training if the total amount of online 9 instruction does not account for more than thirty percent of 10 the total instructional hours. 11 c. By adding together all of the following: 12 (1) The total number of apprentices trained by a single 13 applying apprenticeship sponsor or lead apprenticeship sponsor 14 during the most recent training year as calculated on the last 15 day of the training year. 16 (2) The total number of contact hours that apprenticeship 17 instructors for a single applying apprenticeship sponsor or 18 lead apprenticeship sponsor spent in contact with apprentices 19 during the most recent training year. For purposes of 20 this subparagraph, “contact hours” includes the time spent 21 instructing apprentices in person or, in the case of a lead 22 apprenticeship sponsor with programs totaling one hundred or 23 more total instructional hours, “contact hours” includes the 24 time spent in online training if the total amount of online 25 instruction does not account for more than thirty percent of 26 the total instructional hours. 27 d. By determining the proportion, stated as a percentage, 28 that a single applying apprenticeship sponsor’s or lead 29 apprenticeship sponsor’s total calculated pursuant to paragraph 30 “c” bears to all applying apprenticeship sponsors’ or lead 31 apprenticeship sponsors’ total calculated pursuant to paragraph 32 “b” . 33 e. By multiplying the percentage calculated in paragraph “d” 34 by the amount determined in paragraph “a” . 35 -9- SF 2353 (4) 85 ad/rj/jh 9/ 16

S.F. 2353 3. An apprenticeship sponsor or lead apprenticeship sponsor 1 seeking financial assistance under this section shall provide 2 the following information to the board: 3 a. The federal apprentice registration number of each 4 apprentice in the apprenticeship program. 5 b. The address and a description of the physical location 6 where in-person training is conducted. 7 c. A certification of the apprenticeship sponsor’s training 8 standards as most recently approved by the United States 9 department of labor, office of apprenticeship or, in the case 10 of a lead apprenticeship sponsor, a representative sample of 11 participating members’ training standards. 12 d. A certification of the apprenticeship sponsor’s 13 compliance review or quality assessment as most recently 14 conducted by the United States department of labor, office of 15 apprenticeship, unless the apprenticeship sponsor has not been 16 subjected to a compliance review or quality assessment. In the 17 case of a lead apprenticeship sponsor, a sampling of compliance 18 reviews or quality assessments from participating members shall 19 be sufficient. 20 e. Any other information the board reasonably determines is 21 necessary. 22 4. The apprenticeship sponsor or lead apprenticeship 23 sponsor and the board shall enter into an agreement regarding 24 the provision of any financial assistance to the apprenticeship 25 sponsor or lead apprenticeship sponsor. 26 5. Notwithstanding the provisions of this section, an 27 apprenticeship program receiving funds from section 260F.6 or 28 other community college funding sources in the fiscal year 29 beginning July 1, 2013, and ending June 30, 2014, shall receive 30 no less than that amount from the fund in the fiscal year 31 beginning July 1, 2014, and ending June 30, 2015. 32 Sec. 19. NEW SECTION . 260J.5 Apprenticeship training 33 program board. 34 1. An apprenticeship training program board is established 35 -10- SF 2353 (4) 85 ad/rj/jh 10/ 16

S.F. 2353 to administer the apprenticeship training program and to 1 provide funding to apprenticeship programs for apprentices who 2 will be employed at Iowa worksites. 3 2. The board shall consist of the following members: 4 a. One member of the master builders of Iowa. 5 b. One member of the associated builders and contractors of 6 Iowa. 7 c. One member of the Iowa heavy highway contractors 8 association. 9 d. One member of the associated general contractors of Iowa. 10 e. One member of the technology association of Iowa. 11 f. One member of the Iowa association of business and 12 industry. 13 g. Five members, one member each from different labor 14 organizations that are apprenticeship sponsors or lead 15 apprenticeship sponsors. Five members representing 16 labor organizations shall serve at a time, but the labor 17 organizations represented shall rotate with every term. 18 h. One member from the Iowa federation of labor. 19 i. One member representing community college apprenticeship 20 programs. 21 j. One member representing the Iowa economic development 22 authority. 23 k. One member representing the department. 24 l. One member of the United States department of labor, 25 office of apprenticeship, serving as an ex-officio, nonvoting 26 member. 27 m. Four members of the general assembly serving as 28 ex officio, nonvoting members, one representative to be 29 appointed by the speaker of the house of representatives, one 30 representative to be appointed by the minority leader of the 31 house of representatives, one senator to be appointed by the 32 majority leader of the senate, and one senator to be appointed 33 by the minority leader of the senate. 34 3. a. The voting members of the board and the member 35 -11- SF 2353 (4) 85 ad/rj/jh 11/ 16

S.F. 2353 from the United States department of labor, office of 1 apprenticeship, shall be selected by the named entity or 2 entities. The members from the labor organizations shall be 3 selected by the labor organization being represented. The 4 member representing the community college apprenticeship 5 programs shall be selected by the Iowa association of community 6 college trustees. 7 b. The voting members of the board and the member from the 8 United States department of labor, office of apprenticeship, 9 shall serve three-year staggered terms. If a vacancy occurs a 10 successor shall be selected in the same manner and subject to 11 the same qualifications as the original selection to serve the 12 remainder of the term. 13 c. The legislative members of the board shall serve terms as 14 provided in section 69.16B. A legislative member may designate 15 another person to attend a board meeting if the member is 16 unavailable. 17 4. The voting members shall elect a chairperson and vice 18 chairperson annually from the voting membership of the board. 19 A majority of the voting members of the board constitute a 20 quorum. If the chairperson and vice chairperson are unable to 21 preside over the board due to absence or disability, a majority 22 of the voting members present may elect a temporary chairperson 23 providing a quorum is present. 24 5. The apprenticeship training program board shall do all 25 of the following: 26 a. Administer the apprenticeship training program and 27 approve expenditures from the apprenticeship training program 28 fund. 29 b. Review and award apprenticeship program training grants 30 and infrastructure grants pursuant to section 260J.4. 31 c. Monitor the performance of apprenticeship program 32 training grants and infrastructure grants. 33 d. Promote the development of new and the expansion of 34 existing apprenticeship programs in Iowa. 35 -12- SF 2353 (4) 85 ad/rj/jh 12/ 16

S.F. 2353 e. In collaboration with the department, educate students 1 about apprenticeship training opportunities and promote 2 apprenticeship training in middle school and high school. 3 6. The department shall provide administrative support to 4 the board. 5 7. The board shall adopt rules to administer this chapter. 6 Sec. 20. Section 403.21, subsections 1 and 3, Code 2014, are 7 amended to read as follows: 8 1. In order to promote communication and cooperation among 9 cities, counties, and community colleges with respect to the 10 allocation and division of taxes, no jobs training projects 11 as defined in chapter 260E or 260F shall be undertaken within 12 the area of operation of a municipality after July 1, 1995, 13 unless the municipality and the community college have entered 14 into an agreement or have jointly adopted a plan relating 15 to a community college’s new jobs training program which 16 shall provide for a procedure for advance notification to 17 each affected municipality, for exchange of information, for 18 mutual consultation, and for procedural guidelines for all 19 such new jobs training projects, including related project 20 financing to be undertaken within the area of operation of the 21 municipality. The joint agreement or the plan shall state its 22 precise duration and shall be binding on the community college 23 and the municipality with respect to all new jobs training 24 projects, including related project financing undertaken during 25 its existence. The joint agreement or plan shall be effective 26 upon adoption and shall be placed on file in the office of the 27 secretary of the board of directors of the community college 28 and such other location as may be stated in the joint agreement 29 or plan. The joint agreement or plan shall also be sent to each 30 school district which levied or certified for levy a property 31 tax on any portion of the taxable property located in the area 32 of operation of the municipality in the fiscal year beginning 33 prior to the calendar year in which the plan is adopted or 34 the agreement is reached. If no such agreement is reached or 35 -13- SF 2353 (4) 85 ad/rj/jh 13/ 16

S.F. 2353 plan adopted, the community college shall not use incremental 1 property tax revenues to fund jobs training projects within the 2 area of operation of the municipality. Agreements entered into 3 between a community college and a city or county pursuant to 4 chapter 28E shall not apply. 5 3. The community college shall send a copy of the final 6 agreement prepared pursuant to section 260F.3 to the economic 7 development authority. For each year in which incremental 8 property taxes are used to retire debt service on a jobs 9 training advance issued for a project creating new jobs, the 10 community college shall provide to the economic development 11 authority a report of the incremental property taxes and new 12 jobs credits from withholding generated for that year, a 13 specific description of the training conducted, the number of 14 employees provided program services under the project, the 15 median wage of employees in the new jobs in the project, and 16 the administrative costs directly attributable to the project. 17 Sec. 21. Section 422.16A, Code 2014, is amended to read as 18 follows: 19 422.16A Job training withholding —— certification and 20 transfer. 21 Upon the completion by a business of its repayment 22 obligation for a training project funded under chapter 23 260E , including a job training project funded under section 24 15A.8 or repaid in whole or in part by the supplemental new 25 jobs credit from withholding under section 15A.7 or section 26 15E.197 , the sponsoring community college shall report to 27 the economic development authority the amount of withholding 28 paid by the business to the community college during the 29 final twelve months of withholding payments. The economic 30 development authority shall notify the department of revenue 31 of that amount. The department shall credit to the workforce 32 development fund account established in section 15.342A 256.91 33 twenty-five percent of that amount each quarter for a period 34 of ten years. If the amount of withholding from the business 35 -14- SF 2353 (4) 85 ad/rj/jh 14/ 16

S.F. 2353 or employer is insufficient, the department shall prorate the 1 quarterly amount credited to the workforce development fund 2 account. The maximum amount from all employers which shall be 3 transferred to the workforce development fund account in any 4 year is four six million dollars. 5 Sec. 22. Section 558.1, Code 2014, is amended to read as 6 follows: 7 558.1 “Instruments affecting real estate” defined —— 8 revocation. 9 All instruments containing a power to convey, or in any 10 manner relating to real estate, including certified copies of 11 petitions in bankruptcy with or without the schedules appended, 12 of decrees of adjudication in bankruptcy, and of orders 13 approving trustees’ bonds in bankruptcy, and a jobs training 14 agreement entered into under chapter 260E or 260F between an 15 employer and community college which contains a description 16 of the real estate affected, shall be held to be instruments 17 affecting the same; and no such instrument, when acknowledged 18 or certified and recorded as in this chapter prescribed, can be 19 revoked as to third parties by any act of the parties by whom it 20 was executed, until the instrument containing such revocation 21 is acknowledged and filed for record in the same office in 22 which the instrument containing such power is recorded, except 23 that uniform commercial code financing statements and financing 24 statement changes as provided in chapter 554 need not be thus 25 acknowledged. 26 Sec. 23. REPEAL. Sections 15.341, 15.342, 15.342A, 15.343, 27 15.344, 260F.6A, and 260F.6B, Code 2014, are repealed. 28 Sec. 24. RULES. The department of education shall adopt 29 rules to administer this Act. 30 Sec. 25. TRANSFER OF FUNDS. 31 1. All moneys in the workforce development fund account, 32 established in section 15.342A, as of the effective date of 33 this Act and any moneys accruing to the workforce development 34 fund account, established in section 15.342A, after the 35 -15- SF 2353 (4) 85 ad/rj/jh 15/ 16

S.F. 2353 effective date of this Act, shall be transferred to the 1 workforce development fund account established in section 2 256.91, as enacted in this Act. 3 2. All moneys in the workforce development fund, created in 4 section 15.343, as of the effective date of this Act and any 5 moneys accruing to the workforce development fund, created in 6 section 15.343, after the effective date of this Act, shall be 7 transferred to the workforce development fund established in 8 section 256.92, as enacted in this Act. 9 Sec. 26. TRANSITION PROVISIONS. 10 1. A financial assistance award made or provided for in an 11 agreement entered into pursuant to section 260F.3 prior to the 12 effective date of this Act shall continue as provided in such 13 agreement. 14 2. Loan payments or repayments and recaptures of principal, 15 interest, or other moneys accruing on or after July 1, 2014, 16 pursuant to an agreement under section 260F.3, as in effect 17 prior to July 1, 2014, shall be transferred to the job training 18 fund created in section 260F.6, as amended by this Act. 19 -16- SF 2353 (4) 85 ad/rj/jh 16/ 16