Iowa Administrative Code › Agency 261 - Economic Development Authority › Part IV - Business Development Division › Chapter 68 - High Quality Jobs Program (HQJP) › Rule 261-68.1 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
For purposes of this chapter, unless the context otherwise
				  requires:
"Authority"
means the same as defined in
				  Iowa Code section 15.327(1).
"Award date"
means the date the board
				  approved an application for project completion assistance or tax
				  incentives.
"Base employment level"
means the same as
				  defined in Iowa Code section
				  15.327(2).
"Benefit"
means the same as defined in Iowa
				  Code section 15.327(3).
"Board"
means the same as defined in Iowa
				  Code section 15.102(4).
"Brownfield site"
means the same as defined
				  in Iowa Code section 15.291(2).
"Business"
means a sole proprietorship,
				  partnership, corporation, or other business entity organized for profit under
				  the laws of the state of Iowa or another state, under federal statutes, or
				  under the laws of another country.
"Community"
means the same as defined in
				  Iowa Code section 15.327(6).
"Created job"
means the same as defined in
				  Iowa Code section 15.327(8).
"Eligible business"
means a business that
				  meets the conditions of Iowa Code section
				  15.329.
"Fiscal impact ratio"
means the same as
				  defined in Iowa Code section
				  15.327(11).
"Forgivable loan"
is a loan for which
				  repayment is eliminated in part or entirely if the borrower satisfies specified
				  conditions.
"Full-time equivalent position"
means the
				  same as defined in Iowa Code section
				  15.327(12).
"Grayfield site"
means the same as defined
				  in Iowa Code section 15.291(4).
"High quality jobs"
means created or
				  retained jobs that meet the applicable wage requirements established in Iowa
				  Code section 15.329(1)
"c"
or 15.335C.
"Laborshed area"
means the geographic area
				  surrounding an employment center from which the employment center draws its
				  commuting workers as defined by the department of workforce development.
"Laborshed wage"
means the same as defined
				  in Iowa Code section 15.327(15).
"Loan"
means funds provided that must be
				  repaid with term, interest rate, and other conditions specified in an agreement
				  entered into pursuant to Iowa Code section
				  15.330.
"Maintenance period"
means the same as
				  defined in Iowa Code section
				  15.327(17).
"Maintenance period completion date"
means
				  the same as defined in Iowa Code section
				  15.327(18).
"Modernization project"
means a project that
				  will result in increased skills and wages for current employees and that does
				  not involve created or retained jobs.
"Program"
means the same as defined in Iowa
				  Code section 15.327(19).
"Project"
means the same as defined in Iowa
				  Code section 15.327(21).
"Project completion assistance"
means the
				  same as defined in Iowa Code section
				  15.327(22).
"Project completion date"
means the same as
				  defined in Iowa Code section
				  15.327(23).
"Project completion period"
means the same
				  as defined in Iowa Code section
				  15.327(24).
"Qualifying wage threshold"
means the same
				  as defined in Iowa Code section
				  15.327(26).
"Retained job"
means the same as defined in
				  Iowa Code section 15.327(27).
"Retention-only project"
means a project
				  that involves only retained jobs.