Section 15C.2 - Future ready Iowa expanded registered apprenticeship opportunities program1.Definitions. For purposes of this section, unless the context otherwise requires: a."Applicant" means an apprenticeship sponsor located in Iowa that has established an apprenticeship program involving an eligible apprenticeable occupation that is located in Iowa and approved by the United States department of labor, office of apprenticeship.b."Apprentice" means the same as defined in section 15C.1.c."Apprenticeable occupation" means the same as defined in section 15C.1.d."Apprenticeship program" means the same as defined in section 15C.1.e."Authority" means the economic development authority created in section 15.105.f."Eligible apprenticeable occupation" means the same as defined in section 15C.1.g."Eligible apprenticeship sponsor" means an entity operating an apprenticeship program or an entity in whose name an apprenticeship program is being operated, which is registered with or approved by the United States department of labor, office of apprenticeship and which program has twenty or fewer apprentices, at least one of whom is in an eligible apprenticeable occupation.h."Financial assistance" means assistance provided only from the funds, rights, and assets legally available to the authority and includes but is not limited to assistance in the form of a reimbursement grant of one thousand dollars per apprentice in an eligible apprenticeable occupation.2.Program created. Subject to an appropriation of funds by the general assembly for this purpose, a future ready Iowa expanded registered apprenticeship opportunities program is created which shall be administered by the authority. The purpose of the program is to provide financial assistance to encourage apprenticeship sponsors of apprenticeship programs with twenty or fewer apprentices to maintain apprenticeship programs in high-demand occupations.3.Application requirements - restriction. An eligible apprenticeship sponsor may apply to the authority, on forms provided by the authority and in accordance with the authority's instructions, to receive financial assistance under the program. The authority shall provide upon request and on the authority's internet site information about the program, the application, application instructions, and the application period established each year for funding available under the program.a. An apprenticeship sponsor is eligible to apply for financial assistance for apprentices in eligible apprenticeable occupations if all of the following conditions are met: (1) Twenty or fewer apprentices are registered in the apprenticeship program as of December 31 of the calendar year prior to the date the authority receives the eligible apprenticeship sponsor's application.(2) More than seventy percent of the applicant's apprentices are residents of Iowa, and the remainder of the applicant's apprentices are residents of states contiguous to Iowa. In determining the number of apprentices in an applicant's apprenticeship program, the authority may calculate the average number of apprentices in the program within the most recent two-year period.b. An apprenticeship sponsor receiving financial assistance under chapter 84D or section 84E.1 is ineligible to receive financial assistance under this section during the same fiscal year. An apprenticeship sponsor who trains through a lead apprenticeship sponsor that qualifies for financial assistance under chapter 84D is ineligible to receive financial assistance under this section.4.Rules. The authority shall adopt rules pursuant to chapter 17A establishing a staff review and application approval process, application scoring criteria, the minimum score necessary for approval of financial assistance, procedures for notification of an award of financial assistance, the terms of agreement between the apprenticeship sponsor and the authority, and any other rules deemed necessary for the implementation and administration of this section.5.Agreement. Prior to distributing financial assistance under this section, the authority shall enter into an agreement with the eligible apprenticeship sponsor awarded financial assistance in accordance with this section, and the financial assistance recipient shall confirm the number of apprentices in eligible apprenticeable occupations as identified in the approved application, and shall meet all terms established by the authority for receipt of financial assistance under this section.6.Financial assistance limitation. Financial assistance in the form of a reimburseable grant awarded to any one eligible apprenticeship sponsor in any given fiscal year shall not exceed twenty thousand dollars.7.Use of moneys appropriated - administration.a. The annual administrative expenditures as a percent of the moneys appropriated for a fiscal year for purposes of this section shall not exceed two percent.b. Notwithstanding section 8.33, moneys appropriated to the authority by the general assembly for purposes of this section that remain unencumbered or unobligated at the end of the fiscal year shall not revert to the general fund but shall remain available for expenditure for the purposes designated in subsequent fiscal years.Amended by 2023 Iowa, ch 119, s 10, eff. 7/1/2023.Added by 2020 Iowa, ch 1117, s 3, eff. 7/1/2020.