260F.6 - JOB TRAINING FUND.

        260F.6  JOB TRAINING FUND.
         1.  There is established for the community colleges a job training
      fund in the department of economic development in the workforce
      development fund.  The job training fund consists of moneys
      appropriated for the purposes of this chapter plus the interest and
      principal from repayment of advances made to businesses for program
      costs, plus the repayments, including interest, of loans made from
      that retraining fund, and interest earned from moneys in the job
      training fund.
         2.  To provide funds for the present payment of the costs of a
      training program by the business, the community college may provide
      to the business an advance of the moneys to be used to pay for the
      program costs as provided in the agreement.  To receive the funds for
      this advance from the job training fund established in subsection 1,
      the community college shall submit an application to the department
      of economic development.  The amount of the advance shall not exceed
      twenty-five thousand dollars for any business site, or fifty thousand
      dollars within a three- fiscal-year period for any business site.  If
      the project involves a consortium of businesses, the maximum award
      per project shall not exceed fifty thousand dollars.  Participation
      in a consortium does not affect a business site's eligibility for
      individual project assistance.  Prior to approval a business shall
      agree to match program amounts in accordance with criteria
      established by the department.
         3.  Notwithstanding the requirements of this section, moneys in
      the job training fund may be used by a community college to conduct
      entrepreneur development and support activities.  
         Section History: Recent Form
         85 Acts, ch 235, §6
         CS85, § 280C.6
         88 Acts, ch 1131, § 1; 90 Acts, ch 1253, § 86; 90 Acts, ch 1255, §
      16; 91 Acts, ch 2, §1, 2; 92 Acts, ch 1042, §7
         C93, § 260F.6
         93 Acts, ch 180, § 44; 95 Acts, ch 184, §8; 96 Acts, ch 1180, §12;
      2001 Acts, ch 188, §24
         Referred to in § 15.343, 260C.18A, 260F.6B