15.104 - DUTIES OF THE BOARD.
15.104 DUTIES OF THE BOARD.
The board shall:
1. Perform duties related to the administration of the grow Iowa
values fund and grow Iowa values financial assistance program as
described in chapter 15G.
2. Implement the requirements of chapter 73.
3. Review and approve or disapprove a life science enterprise
plan or amendments to that plan as provided in chapter 10C and
according to rules adopted by the board. A life science plan shall
make a reasonable effort to provide for participation by persons who
are individuals or family farm entities actively engaged in farming
as defined in section 10.1. The persons may participate in the life
science enterprise by holding an equity position in the life science
enterprise or providing goods or service to the enterprise under
contract. The plan must be filed with the board not later than June
30, 2005. The life science enterprise may file an amendment to a
plan at any time. A life science enterprise is not eligible to file
a plan, unless the life science enterprise files a notice with the
board. The notice shall be a simple statement indicating that the
life science enterprise may file a plan as provided in this section.
The notice must be filed with the board not later than June 1, 2005.
The notice, plan, or amendments shall be submitted by a life science
enterprise as provided by the board. The board shall consult with
the department of agriculture and land stewardship during its review
of a life science plan or amendments to that plan. The plan shall
include information regarding the life science enterprise as required
by rules adopted by the board, including but not limited to all of
the following:
a. A description of life science products to be developed by
the enterprise.
b. The time frame required by the enterprise to develop the
life science products.
c. The amount of capital investment required by the
enterprise to develop the life science products.
d. The number of acres of land required to produce the life
science products.
e. The type and extent of participation in the life science
enterprise by persons who are individuals or family farm entities.
If the plan does not provide for participation or minimal
participation, the plan shall include a detailed explanation of the
reasonable effort made by the life science enterprise to provide for
participation.
4. Approve the budget of the department as prepared by the
director.
5. Establish guidelines, procedures, and policies for the
awarding of grants or contracts administered by the department.
6. Review grants or contracts awarded by the department, with
respect to the department's adherence to the guidelines and
procedures and the impact on the three-year strategic plan for
economic growth.
7. Adopt all necessary rules recommended by the director or
administrators of divisions prior to their adoption pursuant to
chapter 17A.
8. By January 31 of each year, submit a report to the general
assembly and the governor that covers its activities during the
preceding fiscal year. The report shall include all of the
following:
a. Financial assistance. Data on all assistance provided to
eligible businesses under the high quality jobs program described in
section 15.326.
b. Projects funded through the grow Iowa values financial
assistance program established in section 15G.112. For each job
creation or retention business finance project receiving moneys from
the grow Iowa values fund, the following information:
(1) The net number of new jobs created as of June 30 of the prior
year. For the purposes of this subparagraph, "net number of new
jobs" is the number of new or retained jobs as identified in the
contract.
(2) The number of jobs created, as of June 30 of the prior year,
that are at or above the qualifying wage threshold for the project.
For the purposes of this subparagraph, "qualifying wage
threshold" has the same meaning as defined in section 15G.101.
(3) The number of retained jobs, as of June 30 of the prior year.
For the purposes of this subparagraph, "retained jobs" means the
number of retained jobs as identified in the contract.
(4) The total amount expended by a business, as of June 30 of the
prior year, toward the total project cost as identified in the
contract.
(5) The project's location.
(6) The amount, if any, of private and local matching funds, as
of June 30 of the prior year.
(7) The amount spent on research and development activities, as
of June 30 of the prior year.
c. Industrial new jobs training Act. Data on all assistance
or benefits provided under the Iowa industrial new jobs training Act
established in chapter 260E.
d. Workforce development fund. The proposed allocation of
moneys from the workforce development fund to be made for the next
fiscal year for the programs and purposes contained in section
15.343, subsection 2.
(1) The director shall submit a copy of the proposed allocation
to the chairpersons of the joint economic development appropriations
subcommittee of the general assembly. Notwithstanding section 8.39,
the proposed allocation may provide for increased or decreased
funding levels if the demand for a program indicates that the need is
greater or less than the allocation for that program.
(2) The director shall submit a report each quarter to the board.
The report shall include the status of the funds and may include the
director's proposed revisions. The proposed revisions may be
approved by the board in January and April of each year.
(3) The director shall also provide quarterly reports to the
legislative services agency on the status of the funds.
e. Employee training and retraining goals and objectives.
Pursuant to section 15.108, subsection 6, the upcoming year's goals
and objectives, including both short-term and long-term methods of
improving program performance, creating employment opportunities for
residents, and enhancing the delivery of services.
f. Accelerated career education programs. The data related
to the accelerated career education programs established in chapter
260G and the activities of those programs during the previous fiscal
year.
g. Coordination with community colleges and state board of
regents. Pursuant to section 15.108, subsection 3, paragraph
"a", subparagraph (1), an assessment of the degree to which the
department has coordinated with the community colleges and the state
board of regents institutions in the avoidance of duplication of
economic development efforts, including the degree to which there are
future coordination needs. The state board of regents institutions
and the community colleges shall be given an opportunity to review
and comment on this portion of the department's annual report prior
to its printing or release.
h. Endow Iowa program. In cooperation with the lead
philanthropic entity, as defined in section 15E.303, a summary of the
activities conducted under the endow Iowa grant program created in
section 15E.304. This portion of the annual report shall include a
summary of the endow Iowa tax credits approved by the department in
the prior calendar year, including the number of credits approved,
the amount approved, a summary of the benefiting donations by size,
and the number of community foundations and affiliate organizations
benefiting from the tax credit program.
i. Grow Iowa values fund expenditures. Detailed financial
data that delineate expenditures made under each component of the
grow Iowa values fund created in section 15G.111.
j. Renewable fuel programs. A detailed accounting of
expenditures in support of renewable fuel infrastructure programs, as
provided in sections 15G.203 and 15G.204. The renewable fuel
infrastructure board established in section 15G.202 shall approve
that portion of the department's annual report regarding projects
supported from the grow Iowa values fund created in section 15G.111.
This paragraph is repealed on July 1, 2012.
k. Pilot project cities -- withholding agreement, tax
credits. Data on the pilot project cities established pursuant to
section 403.19A, including all of the following:
(1) The amount each project received from each state economic
development and tax credit program.
(2) The number of new jobs created as a result of the pilot
program.
(3) The average wage of the jobs created as a result of the pilot
project.
(4) An evaluation of the investment made by the state of Iowa in
the pilot project cities program, including but not limited to the
items described in subparagraphs (1) through (3).
l. Targeted industries development -- financial assistance.
A report of the expenditures of moneys appropriated and allocated to
the department for certain programs authorized pursuant to section
15.411 relating to the development and commercialization of
businesses in the targeted industry areas of advanced manufacturing,
bioscience, and information technology.
m. Targeted small business activities. A section that is a
compilation of the following reports required pursuant to section
15.108, subsection 7, paragraph "c":
(1) A summary of the report filed by December 1 of each year by
the department of administrative services with the department of
economic development regarding targeted small business procurement
activities conducted during the previous fiscal year.
(2) A summary of the report filed by December 1 of each year by
the department of inspections and appeals with the department of
economic development regarding certifications of targeted small
businesses. At a minimum, the summary shall include the number of
certified targeted small businesses for the previous year, the
increase or decrease in that number during the previous fiscal year
compared to the prior fiscal year, and the number of targeted small
businesses that have been decertified in the previous fiscal year.
(3) A summary of the internal report compiled by December 1 of
each year by the department of economic development regarding the
targeted small business financial assistance program. At a minimum,
the summary shall contain the number of loans, loan guarantees, and
grants distributed during the previous fiscal year, the individual
amounts provided to targeted small businesses during the previous
fiscal year, and how many financial assistance awards to targeted
small businesses were the subject of repayment or collection activity
during the previous fiscal year.
(4) A list of the procurement goals established pursuant to
section 73.16, subsection 2, and compiled by the department of
economic development's targeted small business marketing and
compliance manager and the performance of each agency in meeting the
goals. The performance of each agency shall be based upon the
reports required pursuant to section 73.16, subsection 2. Section History: Recent Form
86 Acts, ch 1245, § 804; 86 Acts, ch 1238, § 43; 87 Acts, ch 17, §
2; 2000 Acts, ch 1197, §8, 10; 2001 Acts, ch 11, §1; 2003 Acts, ch
72, §1; 2005 Acts, ch 16, §5, 7; 2005 Acts, ch 150, §5; 2005 Acts, ch
179, §108; 2008 Acts, ch 1122, § 5, 6; 2008 Acts, ch 1191, § 119;
2009 Acts, ch 82, §11; 2009 Acts, ch 123, §19--21
Referred to in § 10C.6, 260G.4C