Iowa Code Title III. Public Services and Regulation [Chs. 80-122C] § 84A.20. Workforce opportunity fund

1. A workforce opportunity fund is created in the state treasury as a separate fund under the control of the department of workforce development.  The fund shall consist of appropriations made to the fund, any other moneys available to and obtained or accepted by the department from the federal government or private sources for placement in the fund, and transfers of interest, earnings, and moneys from other funds as provided by law.  Moneys in the fund are appropriated to the department of workforce development for the purposes of training and infrastructure related to the growth and maintenance of the state's workforce programs.  Permitted uses of the moneys in the fund include but are not limited to equipment, instructional materials, stipends, and other training-related costs.  The department of workforce development shall only distribute moneys in the fund to workforce programs located within this state.

2. Annually, on or before December 31 of each year, the department of workforce development shall submit a report to the general assembly and the legislative services agency that contains a list of all expenditures from the workforce opportunity fund made in the previous fiscal year.  The legislative services agency shall provide a copy of the report to the co-chairpersons and ranking members of the joint appropriations subcommittee on economic development.

3. Notwithstanding section 8.33, moneys in the workforce opportunity fund that remain unencumbered or unobligated at the close of the fiscal year shall not revert but shall remain available for expenditure for the purposes designated for subsequent fiscal years.  Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys in the fund shall be credited to the fund.

4. This section is repealed July 1, 2029.