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House File 2432 - IntroducedA Bill ForAn Act 1relating to contributions to the Iowa educational
2savings plan trust for essential workers from federal
3American Rescue Plan Act funds.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. IOWA EDUCATION SAVINGS PLAN TRUST — ESSENTIAL
2WORKER CONTRIBUTIONS.
31. For purposes of this section, “essential workers”
4means a licensed health care provider as defined in section
5280.13C, a direct care worker, a licensed teacher or other
6person employed by a school, an individual providing child
7care, a food processing plant worker, a grocery store worker, a
8restaurant worker, and any other essential workers specified in
9the governor’s proclamations related to the COVID-19 pandemic.
102. The treasurer of state shall be authorized to expend up
11to one hundred twenty-five million dollars from moneys received
12by the state from the coronavirus state fiscal recovery fund
13pursuant to the federal American Rescue Plan Act of 2021, Pub.
14L.No.117-2, for the purpose of making contributions of up
15to two thousand five hundred dollars per person on behalf of
16participants in the Iowa educational savings plan trust created
17under section 12D.2 who are essential workers subject to the
18requirements of this section.
193. The treasurer of state shall establish an application
20process for employers of essential workers to identify and
21verify which employees of the employer are essential workers
22and eligible to receive a contribution as provided by this
23section. Upon receiving information from an employer verifying
24that an employee is an essential worker and eligible, the
25treasurer of state shall make a contribution on behalf of the
26essential worker participants in the trust fund.
27EXPLANATION
28The inclusion of this explanation does not constitute agreement with
29the explanation’s substance by the members of the general assembly.
30This bill authorizes the treasurer of state to expend up
31to $125 million from moneys received by the state pursuant
32to the federal American Rescue Plan Act for the purpose of
33making contributions of up to $2,500 per person on behalf of
34participants in the Iowa educational savings plan trust created
35under Code section 12D.2 identified by their employer as an
-1-1essential worker. Essential workers are defined in the bill to
2include licensed health care providers, direct care workers,
3teachers and school employees, child care providers, food
4processing plant workers, grocery store and restaurant workers,
5and any other workers specified in the governor’s proclamation
6related to the COVID-19 pandemic.
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2savings plan trust for essential workers from federal
3American Rescue Plan Act funds.
4BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. IOWA EDUCATION SAVINGS PLAN TRUST — ESSENTIAL
2WORKER CONTRIBUTIONS.
31. For purposes of this section, “essential workers”
4means a licensed health care provider as defined in section
5280.13C, a direct care worker, a licensed teacher or other
6person employed by a school, an individual providing child
7care, a food processing plant worker, a grocery store worker, a
8restaurant worker, and any other essential workers specified in
9the governor’s proclamations related to the COVID-19 pandemic.
102. The treasurer of state shall be authorized to expend up
11to one hundred twenty-five million dollars from moneys received
12by the state from the coronavirus state fiscal recovery fund
13pursuant to the federal American Rescue Plan Act of 2021, Pub.
14L.No.117-2, for the purpose of making contributions of up
15to two thousand five hundred dollars per person on behalf of
16participants in the Iowa educational savings plan trust created
17under section 12D.2 who are essential workers subject to the
18requirements of this section.
193. The treasurer of state shall establish an application
20process for employers of essential workers to identify and
21verify which employees of the employer are essential workers
22and eligible to receive a contribution as provided by this
23section. Upon receiving information from an employer verifying
24that an employee is an essential worker and eligible, the
25treasurer of state shall make a contribution on behalf of the
26essential worker participants in the trust fund.
27EXPLANATION
28The inclusion of this explanation does not constitute agreement with
29the explanation’s substance by the members of the general assembly.
30This bill authorizes the treasurer of state to expend up
31to $125 million from moneys received by the state pursuant
32to the federal American Rescue Plan Act for the purpose of
33making contributions of up to $2,500 per person on behalf of
34participants in the Iowa educational savings plan trust created
35under Code section 12D.2 identified by their employer as an
-1-1essential worker. Essential workers are defined in the bill to
2include licensed health care providers, direct care workers,
3teachers and school employees, child care providers, food
4processing plant workers, grocery store and restaurant workers,
5and any other workers specified in the governor’s proclamation
6related to the COVID-19 pandemic.
-2-ec/rn