Iowa Administrative Code
Agency 261 - Economic Development Authority
Part IV - Business Development Division
Chapter 52 - Iowa Targeted Small Business Certification Program
Rule 261-52.1 - Definitions

"Authority" means the economic development authority created in Iowa Code section 15.105.

"Certification" means the process which identifies small businesses as targeted and eligible for technical assistance.

"Contractor" means the person who contracts to perform work for the state.

"Cottage industry" means a business where the principal place of business is the owner's residence.

"Disability" means as defined in Iowa Code section 15.102(10) "b."

"Family" means a group of related people as follows: father, mother, son, daughter, brother, sister, husband, wife, grandmother, grandfather, grandchild, stepfather, stepmother, stepdaughter, stepson, stepbrother, stepsister, half-sister, or half-brother.

"Family-owned business" means a business owned by more than one member of one family. Characteristics of a family-owned business include, but are not limited to:

1. Ownership is shared by family members;

2. Profits are disbursed among family members;

3. A business tax return is filed in the name of the company with the family members listed as officers.

"Gross income" means the total sales less the cost of goods sold plus any income from investments and from incidentals or outside operations or sources.

"Intention" means an attempt has been made to perform the work.

"Lending institution" means any bank, savings and loan, or credit union.

"Minority person" means an individual who is a Black, Latino, Asian, Pacific Islander, American Indian or Alaskan Native American.

"Owner's residence" means the owner's legal residence.

"Person" means individual, corporation, government or governmental subdivision or agency, estate, trust, partnership or association, or any other legal entity.

"Program" means the targeted small business certification program described in this chapter.

"Service-disabled veteran" means the same as defined in 15 U.S.C. Section 632.

"Single management" means a business which is not a subsidiary of any other business.

"Targeted group person" or "TGP" means a person who is a minority, woman, person with a disability, or service-disabled veteran and is either an Iowa resident or a resident of a contiguous state who lives within 50 miles of the targeted small business the person owns, operates, and actively manages.

"Targeted small business (TSB)" means a small business which is 51 percent or more owned, operated, and actively managed by one or more targeted group persons provided the business meets all of the following requirements:

1. Is located in this state;

2. Is operated for profit;

3. Has an annual gross income of less than $4 million, computed as an average of the three preceding fiscal years.

"Targeted small business owner" means one or more women, minorities, persons with disabilities, service-disabled veterans, or a combination thereof, owning at least 51 percent of a business.

"Uniform small business vendor application" means the application developed by the Iowa economic development authority which can be adopted by all agencies and departments of state government to identify small businesses and targeted small businesses. The application contains information which can be used to determine certification as a targeted small business for participation in the Iowa targeted small business procurement program.

"Woman" means any female 18 years of age or older.