ARC 3386C

ARC 3386C

ECONOMIC DEVELOPMENT AUTHORITY[261]

Adopted and Filed

Pursuant to the authority of Iowa Code section 15.106A, the Iowa Economic Development Authority hereby adopts amendments to Chapter 110, "STEM Internship Program," Iowa Administrative Code.

This amendment changes the maximum amount that may be awarded to any one employer under the STEM internship program in any one fiscal year from $100,000 to $50,000. The maximum award per intern will remain the same at $5,000 per student. Since the program has been fully subscribed in past years, this change will ensure that more employers are able to take advantage of the program.

Notice of Intended Action was published in the Iowa Administrative Bulletin as ARC 3155C on July 5, 2017. No oral or written comments were received. This amendment is identical to that published under Notice.

The Economic Development Authority Board adopted this amendment on September 22, 2017.

This rule making does not have any fiscal impact to the state of Iowa.

After analysis and review of this rule making, no impact on jobs has been found.

This amendment is intended to implement Iowa Code section 15.411.

This amendment will become effective November 15, 2017.

The following amendment is adopted.

Amend subrule 110.4(1) as follows:

110.4(1) The maximum amount awarded to an employer for any one internship shall not exceed $5,000. The maximum amount that may be awarded to any one employer in any one fiscal year shall not exceed $100,000 $50,000.

[Filed 9/22/17, effective 11/15/17]

[Published 10/11/17]

Editor's Note: For replacement pages for IAC, see IAC Supplement 10/11/17.