Iowa Admin. Code r. 261-119.2

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 261-119.2 - [Effective 1/15/2025] Definitions

"Applicant" means a business applying for assistance under the program.

"Authority" means the economic development authority created in Iowa Code section 15.105.

"Authority's website" means the information and related content found at www.iowaeda.com and may include integrated content at affiliate sites.

"Board" means the same as defined in Iowa Code section 15.102.

"Eligible business" means a business meeting the requirements of rule 261-119.3 (15).

"Financial assistance" means the same as defined in Iowa Code section 15.102.

"Full-time equivalent job" or "full-time" means the employment of one person:

1. For 8 hours per day for a five-day, 40-hour workweek for 52 weeks per year, including paid holidays, vacations and other paid leave; or

2. The number of hours or days per week, including paid holidays, vacations and other paid leave, currently established by schedule, custom, or otherwise, as constituting a week of full-time work for the kind of service an individual performs for an employing unit, provided that the number of hours per week is at least 32 hours per week for 52 weeks per year, including paid holidays, vacations, and other paid leave.

For purposes of this definition, "employment of one person" means the employment of one natural person and does not include "job sharing" or any other means of aggregation or combination of hours worked by more than one natural person.

"Manufacturing 4.0 technology investments" or "investments" means the same as "manufacturing 4.0 technology investments" defined in Iowa Code section 15.371.

"Program" means the manufacturing 4.0 technology investment program established in this chapter.

Iowa Admin. Code r. 261-119.2

Adopted by IAB October 6, 2021/Volume XLIV, Number 7, effective 9/17/2021

Adopted by IAB December 11, 2024/Volume XLVII, Number 11, effective 1/15/2025