Relating to grants for new remote workers who relocate to this state and who are employed by an out-of-state employer and creating and making appropriations to the new remote worker grant fund

Under the bill, a new remote worker is eligible for a grant for qualifying remote worker expenses in an amount not to exceed $5,000 per calendar year. A new remote worker is eligible for a grant for a maximum of two calendar years. “Qualifying remote worker expenses” is defined in the bill as actual, substantiated costs that a new remote worker incurs for relocation to this state, computer software and hardware, broadband access or upgrade, and membership in a coworking space. The expenses must be necessary to perform the remote worker’s employment duties and cannot also be reimbursed by the employer. “Coworking space” is defined in the bill. The bill requires the authority to establish a new remote worker grant fund for the purpose of providing grants to new remote workers. There is appropriated from the general fund of the state to the remote worker grant fund for the new remote worker grant program $750,000 for the fiscal year beginning July 1, 2019, $350,000 for the fiscal year beginning July 1, 2020, $400,000 for the fiscal year beginning July 1, 2021, $450,000 for the fiscal year beginning July 1, 2022, and $500,000 for the fiscal year beginning July 1, 2023.33, moneys remaining in the fund at the end of each fiscal year shall not revert to any fund and shall remain in the fund. Subject to funding, the authority is required by the bill to award grants on a first-come, first-served basis, not exceeding total grants of $750,000 in calendar year 2020, $350,000 in calendar year 2021, $400,000 in calendar year 2022, $450,000 in calendar year 2023, and $500,000 in calendar year 2024. To the extent funds remain available in subsequent calendar years, total grants cannot exceed $200,000 in any calendar year. The bill requires the Iowa economic development authority to adopt rules to implement and administer the requirements of the bill. The authority must submit a report to the general assembly and the governor’s office each year that moneys are appropriated to the fund providing details related to the grants and grantees. The report is due by January 31 of every year for the immediately preceding calendar year.