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Senate File 461 - IntroducedA Bill ForAn Act 1to include veterans in the small business linked
2investments program.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 12.34, subsection 1, Code 2023, is
2amended to read as follows:
31. a. The treasurer of state may invest up to the lesser
4of one hundred eight million dollars or twenty-five percent
5of the balance of the state pooled money fund in certificates
6of deposit in eligible lending institutions as provided in
7section 12.32, this section, and sections 12.35 through 12.43.
8One-half of the moneys invested pursuant to this section shall
9be made available under the program implemented pursuant to
10section 12.43 to increase the availability of lower cost
11moneys for purposes of injecting needed capital into small
12businesses which are fifty-one percent or more owned, operated,
13and actively managed by one or more women, veterans, minority
14persons, or persons with disabilities. “Disability” and
15“minority person” mean the same as defined in section 15.102.
16 The treasurer shall invest the remaining one-half of the moneys
17invested pursuant to this section to support any other eligible
18applicant as provided in section 12.43.
19b. For the purposes of this section:
20(1) “Disability” means the same as defined in section
2115.102.
22(2) “Minority person” means the same as defined in section
2315.102.
24(3) “Veteran” means a person who served on federal
25active duty, other than training, in the armed forces of the
26United States and who was released or discharged under any
27circumstances other than dishonorable conditions, or who meets
28the definition of “veteran” in section 35.1.
29EXPLANATION
30The inclusion of this explanation does not constitute agreement with
31the explanation’s substance by the members of the general assembly.
32This bill allows the treasurer of state to make loans to
33businesses which are 51 percent or more owned, operated, and
34actively managed by one or more veterans through the small
35business linked investments program.
-1- 1The bill defines a veteran, for the purposes of the small
2business linked investments program, as a person who served on
3federal active duty, other than training, in the armed forces
4of the United States and who was released or discharged under
5any circumstances other than dishonorable conditions, or who
6meets the definition of a “veteran” in Code section 35.1.
-2-dg/rn
2investments program.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. Section 12.34, subsection 1, Code 2023, is
2amended to read as follows:
31. a. The treasurer of state may invest up to the lesser
4of one hundred eight million dollars or twenty-five percent
5of the balance of the state pooled money fund in certificates
6of deposit in eligible lending institutions as provided in
7section 12.32, this section, and sections 12.35 through 12.43.
8One-half of the moneys invested pursuant to this section shall
9be made available under the program implemented pursuant to
10section 12.43 to increase the availability of lower cost
11moneys for purposes of injecting needed capital into small
12businesses which are fifty-one percent or more owned, operated,
13and actively managed by one or more women, veterans, minority
14persons, or persons with disabilities. “Disability” and
15“minority person” mean the same as defined in section 15.102.
16 The treasurer shall invest the remaining one-half of the moneys
17invested pursuant to this section to support any other eligible
18applicant as provided in section 12.43.
19b. For the purposes of this section:
20(1) “Disability” means the same as defined in section
2115.102.
22(2) “Minority person” means the same as defined in section
2315.102.
24(3) “Veteran” means a person who served on federal
25active duty, other than training, in the armed forces of the
26United States and who was released or discharged under any
27circumstances other than dishonorable conditions, or who meets
28the definition of “veteran” in section 35.1.
29EXPLANATION
30The inclusion of this explanation does not constitute agreement with
31the explanation’s substance by the members of the general assembly.
32This bill allows the treasurer of state to make loans to
33businesses which are 51 percent or more owned, operated, and
34actively managed by one or more veterans through the small
35business linked investments program.
-1- 1The bill defines a veteran, for the purposes of the small
2business linked investments program, as a person who served on
3federal active duty, other than training, in the armed forces
4of the United States and who was released or discharged under
5any circumstances other than dishonorable conditions, or who
6meets the definition of a “veteran” in Code section 35.1.
-2-dg/rn