Bill Text: IA SF461 | 2023-2024 | 90th General Assembly | Enrolled
Bill Title: A bill for an act to include veterans in the small business linked investments program. (Formerly SSB 1174.) Effective date: 07/01/2024.
Spectrum: Committee Bill
Status: (Passed) 2024-05-08 - Signed by Governor. S.J. 962. [SF461 Detail]
Download: Iowa-2023-SF461-Enrolled.html
Senate
File
461
-
Enrolled
Senate
File
461
AN
ACT
TO
INCLUDE
VETERANS
IN
THE
SMALL
BUSINESS
LINKED
INVESTMENTS
PROGRAM.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
12.34,
subsection
1,
Code
2023,
is
amended
to
read
as
follows:
1.
a.
The
treasurer
of
state
may
invest
up
to
the
lesser
of
one
hundred
eight
million
dollars
or
twenty-five
percent
of
the
balance
of
the
state
pooled
money
fund
in
certificates
of
deposit
in
eligible
lending
institutions
as
provided
in
section
12.32
,
this
section
,
and
sections
12.35
through
12.43
.
One-half
of
the
moneys
invested
pursuant
to
this
section
shall
be
made
available
under
the
program
implemented
pursuant
to
section
12.43
to
increase
the
availability
of
lower
cost
moneys
for
purposes
of
injecting
needed
capital
into
small
businesses
which
are
fifty-one
percent
or
more
owned,
operated,
and
actively
managed
by
one
or
more
women,
veterans,
minority
persons,
or
persons
with
disabilities.
“Disability”
and
“minority
person”
mean
the
same
as
defined
in
section
15.102
.
The
treasurer
shall
invest
the
remaining
one-half
of
the
moneys
invested
pursuant
to
this
section
to
support
any
other
eligible
applicant
as
provided
in
section
12.43
.
b.
For
the
purposes
of
this
section:
(1)
“Disability”
means
the
same
as
defined
in
section
15.102.
Senate
File
461,
p.
2
(2)
“Minority
person”
means
the
same
as
defined
in
section
15.102.
(3)
“Veteran”
means
a
person
who
served
on
federal
active
duty,
other
than
training,
in
the
armed
forces
of
the
United
States
and
who
was
released
or
discharged
under
any
circumstances
other
than
dishonorable
conditions,
or
who
meets
the
definition
of
“veteran”
in
section
35.1.
______________________________
AMY
SINCLAIR
President
of
the
Senate
______________________________
PAT
GRASSLEY
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
461,
Ninetieth
General
Assembly.
______________________________
W.
CHARLES
SMITHSON
Secretary
of
the
Senate
Approved
_______________,
2024
______________________________
KIM
REYNOLDS
Governor
