15G.115 - APPLICATIONS -- ADVISORY BODY RECOMMENDATIONS -- FINAL BOARD ACTIONS.
15G.115 APPLICATIONS -- ADVISORY BODY RECOMMENDATIONS
-- FINAL BOARD ACTIONS.
1. The department shall accept and process applications for
financial assistance under the grow Iowa values financial assistance
program. After processing the applications, the department shall
prepare them for review by advisory committees and for final action
by the board as described in this section.
2. a. Each application from a business for financial
assistance under the grow Iowa values financial assistance program
shall be reviewed by the due diligence committee established by the
board pursuant to section 15.103, subsection 6. The due diligence
committee shall make a recommendation on each application to the
board.
b. Each application from a business for financial assistance
under the value-added agriculture component of the grow Iowa values
financial assistance program shall be reviewed by the agricultural
products advisory council established in section 15.203, which shall
make a recommendation on each application to the board.
c. Each application for financial assistance from funds
allocated by the department for deposit in the innovation and
commercialization development fund pursuant to section 15G.111,
subsection 10, shall be reviewed by the technology commercialization
committee established in section 15.116, which shall make a
recommendation on each application to the board.
3. In overseeing the administration of the grow Iowa values fund
and grow Iowa values financial assistance program pursuant to this
chapter, the board shall do all of the following:
a. At the first scheduled meeting of the board after the
start of a new fiscal year, take final action on all of the
following:
(1) The department's recommendations for the annual fiscal year
allocation of moneys in the fund, as provided in section 15G.111,
subsection 4. The board may adjust the allocation of moneys during
the fiscal year as necessary.
(2) The department's recommendations for the allocation of moneys
among the program components referred to in section 15G.112,
subsection 1, paragraph "b". The board may adjust the allocation
of moneys during the fiscal year as necessary.
b. Consider the recommendation of the due diligence committee
and the agricultural products advisory council on each application
for financial assistance, as described in subsection 2, and take
final action on each application.
c. Take final action on the required plans for proposed
expenditures submitted by the entities receiving moneys allocated
under section 15G.111, subsections 5 through 8.
d. Take final action on any rules recommended by the
department for the implementation of the provisions of this chapter.
Section History: Recent Form
2009 Acts, ch 123, §6, 33