HF 2644 (LSB 5500HV (4) 90)

HOUSE FILE 2644

BY  COMMITTEE ON APPROPRIATIONS

(SUCCESSOR TO HF 2493)

(As Amended and Passed by the House 2024-04-09)

A BILL FOR

An Act creating a program and fund for court reporter equipment, and making appropriations.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  NEW SECTION.  15.485  Court reporter equipment incentive program.
   1.  The authority shall establish and administer a court reporter equipment incentive program. The court reporter equipment incentive program shall consist of a student grant program and a graduate forgivable loan program. Financial assistance under the programs shall be provided from the court reporter equipment incentive fund created in section 15.486.
   2.  A person enrolled in a court reporter course at a school in Iowa is eligible to apply for a grant under the student grant program to be used for the purchase of court reporter equipment and software for the court reporter training at the school. 
   3.  a.  A person is eligible to apply for a loan under the graduate forgivable loan program if the person meets all of the following requirements:
   (1)  The person is a newly licensed court reporter within one year of graduation from a court reporter training program.
   (2)  The person is a resident of Iowa.
   (3)  The person agrees to work as a court reporter for five years after the date of the loan.
   b.  After five years from the date of the loan, if eligible under paragraph “a”, the loan is forgiven. If the loan is not forgiven, the authority shall establish a loan repayment schedule for repayment of the loan within five years. A loan not forgiven and defaulted on shall be referred to the department of revenue for collections.
   c.  A loan granted under this subsection shall be used to purchase court reporter equipment and software.
   4.  Applicants to the court reporter equipment incentive program who are doing court-related work shall receive priority over applicants who are not.
   5.  Available moneys shall be divided equally among all applicants during a fiscal year.
    Sec. 2.  NEW SECTION.  15.486  Court reporter equipment incentive fund.
   1.  A court reporter equipment incentive fund is created in the state treasury under the control of the authority and shall consist of moneys appropriated to the fund by the general assembly and any other moneys available to and obtained or accepted by the authority for placement in the fund.
   2.  The following accounts are created within the court reporter equipment incentive fund:
   a.  A student grant account, which is appropriated to the authority to support the student grant program created in section 15.485.
   b.  A graduate forgivable loan account, which is appropriated to the authority to support the graduate forgivable loan program created in section 15.485.
   3.  Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall be credited to the fund. Notwithstanding section 8.33, moneys in the fund that remain unencumbered or unobligated at the close of a fiscal year shall not revert but shall remain available for expenditure for the purposes designated. For moneys deposited in the fund but not to a particular account, the authority shall split available moneys among the accounts based on need and to maximize the impact of available moneys, as determined by the authority.
    Sec. 3.  APPROPRIATION —— COURT REPORTER EQUIPMENT PROGRAM.  There is appropriated from the general fund of the state to the economic development authority for the fiscal year beginning July 1, 2024, and ending June 30, 2025, the following amount, or so much thereof as is necessary, to be used for the purposes designated:
   For deposit in the court reporter equipment incentive fund created in section 15.486, as enacted by this Act:
   ...................................................................... $    100,000