Iowa Admin. Code r. 261-7.8

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

Rule 261-7.8 - Matching funds requirement

(1) An apprenticeship sponsor, business, community college consortium, or business network shall provide matching funds in order to be eligible for a program award.

(2) An apprenticeship sponsor, business, community college consortium, or business network requesting a program award of less than $5,000 shall provide in-kind matching funds.

(3) An apprenticeship sponsor, business, community college consortium, or business network requesting a program award of $5,000 or more shall provide cash to pay at least 25 percent of the total project cost, including training and administration costs.

(4) In-kind matching funds include employee wages paid by the business during the training period, the value of business-provided facilities and equipment used for training, or the value of any other resources provided by the business or apprenticeship sponsor to facilitate the training program.

Iowa Admin. Code r. 261-7.8