Iowa Administrative Code › Agency 261 - Economic Development Authority › Part VI - Administration Division › Chapter 165 - Allocation of Grow Iowa Values Fund › Rule 261-165.4 - Allocation of Annual Appropriation for Grow Iowa Values Fund Moneys-$50m

Current through Register Vol. 47, No. 3, July 24, 2024
Pursuant to Iowa Code section 15G.111 as amended by 2009
				  Iowa Acts, Senate File 344, section 2, $50 million is appropriated from the
				  grow Iowa values fund to the department each fiscal year for the fiscal period
				  beginning July 1, 2009, and ending June 30, 2015. If the full $50 million is
				  appropriated in a fiscal year, the fund moneys are allocated as described
				  below. If less than $50 million is appropriated in a fiscal year, then the
				  amount available will be reduced on a pro-rata basis. The fund moneys are
				  allocated as follows:
1. $32M-For:
* Departmental administrative costs,
* Awards of financial assistance from the grow Iowa values
				  financial assistance program established in 2009 Iowa Acts, Senate File 344,
				  section 3,
* Marketing,
* A statewide labor shed study,
* Responding to opportunities and threats,
* Technical assistance and information technology,
* Guarantees in existence as of July 1, 2009, under the loan
				  and credit guarantee program,
* Renewable fuels infrastructure program for FY 2010 ($2M),
				  and
* $1M for FY 2010 for research and development related to
				  renewable energy pursuant to 2009 Iowa Acts, House File 817.
2. $3M-For deposit in the innovation and commercialization
				  fund created by 2009 Iowa Acts, Senate File 142.
3. $5M-To the state board of regents for institutions of
				  higher learning under the control of the state board of regents, for specific
				  activities.
4. $IM-For projects in targeted state parks, state banner
				  parks and destination parks.
5. $IM-For the cultural trust fund administered by the
				  department of cultural affairs.
6. $7M-For workforce training and economic development funds
				  of the community colleges.
7. $IM-For economic development region initiatives.
(1)
Board allocation of appropriation
				to fund for departmental purposes
-
$32M.
Of the
				annual appropriation to the fund, the board may allocate $32 million (or a
				pro-rata amount if the annual appropriation to the fund is less than $50
				million) for the following activities:
a.
				Departmental administrative costs. The board may allocate a portion of the
				funds to cover administrative costs. No more than $600,000 may be allocated for
				administrative costs.
b. Awards of
				financial assistance from the grow Iowa values financial assistance program
				established in 2009 Iowa Acts, Senate File 344, section 3. The grow Iowa values
				financial assistance fund consists of six components. The rules for the six
				components may be found in 261-Chapter 74.
c. Marketing. The board may allocate a
				portion of the amount available for departmental purposes for marketing
				proposals pursuant to Iowa Code section 15G.109.
d. Statewide labor shed study. The board may
				allocate a portion of the funds available to authorize a statewide labor shed
				study in coordination with the department of workforce development.
e. Responding to opportunities and threats. A
				portion of the funds may be allocated by the board to respond to opportunities
				and threats. The rules for this activity are found in 261-Chapter 75.
f. Technical assistance and information
				technology. The board may allocate a portion of the funds available for
				procuring technical assistance from either the public or private sector and for
				information technology purposes.
g.
				Loan guarantees in existence as of July 1, 2009, under the loan and credit
				guarantee program.
h. Renewable
				fuels infrastructure fund established in Iowa Code section 15G.205. For fiscal
				year 2010, $2 million shall be allocated to the renewable fuels infrastructure
				fund established in Iowa Code section 15G.205.
i. Renewable energy research and development.
				For fiscal year2010,$1 million for research and development related to
				renewable energy pursuant to 2009 Iowa Acts, House File 817.