Iowa Administrative Code
Agency 261 - Economic Development Authority
Part V - Innovation and Commercialization Activities
Chapter 104 - Innovative Businesses Internship Program
Rule 261-104.13 - Contract and Reporting

Universal Citation: IA Admin Code 261-104.13

Current through Register Vol. 47, No. 6, September 18, 2024

(1) Notice of award. Successful applicants will be notified in writing of an award of assistance, including any conditions and terms of the approval.

(2) Contract required. The authority shall prepare a contract, which includes, but is not limited to, a description of the internship to be completed; conditions to disbursement; required reports; and the repayment requirements imposed in the event the business does not fulfill its obligations described in the contract and other specific repayment provisions ("clawback" provisions) to be established on an individual basis.

(3) Reporting. An applicant shall submit any information requested by the authority in sufficient detail to permit the authority to prepare the report pursuant to 2007 Iowa Acts, House File 829, section 10, and any other reports deemed necessary by the authority, the board, the general assembly or the governor's office.

(4) Contract amendments. The board does not need to approve a contract amendment. The director may approve contract amendments consistent with 2011 Iowa Acts, House File 590, section 9.

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