Bill Text: IA SF445 | 2015-2016 | 86th General Assembly | Introduced

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Bill Title: A bill for an act establishing a business accelerator program administered through the economic development authority for women-owned businesses in the state and making appropriations. (Formerly SF 286.)

Sponsorship: Committee Bill

Status: (Introduced - Dead) 2015-03-12 - Subcommittee, Dotzler, Dvorsky, and Schneider. S.J. 592. [SF445 Detail]

Download: Iowa-2015-SF445-Introduced.html

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Senate File 445 - Introduced




                                 SENATE FILE       
                                 BY  COMMITTEE ON ECONOMIC
                                     GROWTH

                                 (SUCCESSOR TO SF 286)

                                      A BILL FOR

  1 An Act establishing a business accelerator program administered
  2    through the economic development authority for women=owned
  3    businesses in the state and making appropriations.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
    TLSB 1304SV (1) 86
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PAG LIN



  1  1    Section 1.  WOMEN=OWNED BUSINESS ACCELERATOR PROGRAM AND
  1  2 APPROPRIATION.
  1  3    1.  There is appropriated from the general fund of the state
  1  4 to the Iowa economic development authority for the following
  1  5 fiscal years, the following amounts, or so much thereof as is
  1  6 necessary, to be used for the purpose designated:
  1  7    To develop a business accelerator program and provide
  1  8 related assistance for Iowa businesses owned by women:
  1  9    a.  FY 2015=2016:
  1 10 .................................................. $    450,000
  1 11    b.  FY 2016=2017:
  1 12 .................................................. $    450,000
  1 13    2.  From the moneys appropriated pursuant to this section,
  1 14 the economic development authority shall procure the services
  1 15 of a nonprofit Iowa entity to establish, develop, and
  1 16 maintain a business accelerator program for Iowa businesses
  1 17 owned by women and to provide related services.  Under a
  1 18 business accelerator program authorized pursuant to this
  1 19 section, an entity shall provide Iowa women=owned businesses
  1 20 long=term, individualized technical assistance and also
  1 21 provide advanced business and market intelligence which assists
  1 22 women=owned businesses in identifying market, product, or
  1 23 service development opportunities.  The entity establishing
  1 24 the business accelerator program shall also develop, in
  1 25 consultation with the economic development authority, an
  1 26 internet site offering equity investment opportunities for Iowa
  1 27 women to fund other Iowa women in business.
  1 28    3.  The economic development authority shall begin a request
  1 29 for proposals process, issued for purposes of this section, no
  1 30 later than September 1, 2015.
  1 31    4.  The nonprofit entity providing services pursuant to this
  1 32 section shall report on the progress of the program and future
  1 33 needs of women=owned businesses in the state to the general
  1 34 assembly and the economic development authority by July 1,
  1 35 2017.
  2  1    5.  Notwithstanding section 8.33, moneys appropriated in
  2  2 this section that remain unencumbered or unobligated at the
  2  3 close of the fiscal year shall not revert but shall remain
  2  4 available for expenditure for the purposes designated until the
  2  5 close of the succeeding fiscal year.
  2  6                           EXPLANATION
  2  7 The inclusion of this explanation does not constitute agreement with
  2  8 the explanation's substance by the members of the general assembly.
  2  9    This bill establishes a business accelerator program for
  2 10 women=owned businesses in the state.  The bill appropriates
  2 11 $450,000 for both fiscal year 2015=2016 and fiscal year
  2 12 2016=2017 to the economic development authority for the
  2 13 development of a business accelerator program and other related
  2 14 assistance for Iowa businesses owned by women.  The bill
  2 15 requires the economic development authority to procure the
  2 16 services of a nonprofit Iowa entity to establish the program.
  2 17 Through the program, the nonprofit entity must provide
  2 18 women=owned Iowa businesses long=term, technical assistance
  2 19 as well as advanced business and market intelligence.  The
  2 20 bill requires the nonprofit entity to develop an internet
  2 21 site offering equity investment opportunities for Iowa women
  2 22 to fund other Iowa women in business.  The bill states that
  2 23 the economic development authority shall begin a request for
  2 24 proposals process by September 1, 2015. The nonprofit entity
  2 25 is required to report to the general assembly on the program by
  2 26 July 1, 2017.
       LSB 1304SV (1) 86
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