1. a. A workforce development fund is created as a revolving fund in the state treasury under the control of the authority consisting of any moneys appropriated by the general assembly for that purpose and any other moneys available to and obtained or accepted by the authority from the federal government or private sources for placement in the fund. The fund shall also include moneys appropriated to the fund from the workforce development fund account established in section 15.342A.

 b. Notwithstanding section 8.33, moneys in the workforce development fund at the end of each fiscal year shall not revert to any other fund but shall remain in the workforce development fund for expenditure for subsequent fiscal years.

Terms Used In Iowa Code 15.343

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means the economic development authority created in section 15. See Iowa Code 15.102
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
 2. The assets of the fund shall be used by the authority for the following programs and purposes:

 a. Projects under chapter 260F. The authority shall require a match from all businesses participating in a training project under chapter 260F.
 b. Apprenticeship programs under section 260C.44, including new or statewide building trades apprenticeship programs.
 c. To cover the costs of the administration of workforce development programs and services available through the authority. A portion of these funds may be used to support efforts by the community colleges to provide workforce services to Iowa employers.
 3. Moneys in the workforce development fund shall be allocated as follows:

 a. Three million dollars shall be used for purposes provided in section 260F.6.
 b. One million dollars shall be used for purposes provided in section 260F.6B.