455C.17 - GRANTS FOR INDEPENDENT REDEMPTION CENTERS. - Iowa Statutes

455C.17 GRANTS FOR INDEPENDENT REDEMPTION CENTERS. 1. An independent redemption center grant program shall be established by the department to award grants for improvements to independent redemption centers. An "independent redemption center" is a redemption center that is also a nonprofit or a for-profit facility that has existed prior to July 1, 2008, and that is not affiliated with or in any way a subsidiary of a dealer, a distributor, or a manufacturer. 2. a. An independent redemption center grant fund is established in the state treasury under the authority of the department. The fund shall consist of moneys appropriated to the fund or appropriated to the department for purposes of the grant program. Moneys in the fund are appropriated to the department to be used for the grant program. b. Notwithstanding section 8.33, moneys in the fund at the close of any fiscal year shall not revert to any other fund but shall remain in the fund for the subsequent fiscal year to be used for purposes of the fund. 3. a. Moneys in the grant fund shall be used by the department to provide grants to independent redemption centers for purposes of making improvements to such centers. The department shall not award grants in a fiscal year in an aggregate of more than one million dollars. A grant shall not exceed fifteen thousand dollars for any independent redemption center. b. The department shall not pay administrative costs relating to the management of the grant program in excess of three and one-half percent of the moneys in the fund in a fiscal year.          Section History: Recent Form 2008 Acts, ch 1191, §78