Iowa Administrative Code
Agency 261 - Economic Development Authority
Part IV - Business Development Division
Chapter 52 - Iowa Targeted Small Business Certification Program
Rule 261-52.10 - Fraudulent Practices in Connection With Targeted Small Business Programs
Universal Citation: IA Admin Code 261-52.10
Current through Register Vol. 47, No. 6, September 18, 2024
A violation under this rule is grounds for decertification of the TSB connected with the violation. Decertification shall be in addition to any penalty otherwise authorized by this chapter.
(1) A person is considered to be guilty of a fraudulent practice if the person:
a.
Knowingly transfers or assigns assets, ownership, or equitable interest in
property of a business to a targeted group person primarily for the purpose of
obtaining benefits under TSB programs if the transferor would otherwise not be
qualified for such programs.
b.
Solicits and is awarded a state contract on behalf of a TSB for the purpose of
transferring the contract to another for a percentage if the person
transferring or intending to transfer the work had no intention of performing
the work.
c. Knowingly falsifies
information on an application for the purpose of obtaining benefits under TSB
programs.
(2) The authority may investigate allegations or complaints of fraudulent practices and will take action to decertify a TSB upon concluding that a violation has occurred. A decertification by this action may be appealed.
Disclaimer: These regulations may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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