Iowa Code § 84G.4: Workforce development fund.

1. a. A workforce development fund is created as a revolving fund in the state treasury under the control of the department of workforce development consisting of any moneys appropriated by the general assembly for that purpose and any other moneys available to and obtained or accepted by the department of workforce development from the federal government or private sources for placement in the fund. The fund shall also include moneys appropriated to the fund from the workforce development fund account established in section 84G.3.

b. Notwithstanding section 8.33, moneys in the workforce development fund at the end of each fiscal year shall not revert to any other fund but shall remain in the workforce development fund for expenditure for subsequent fiscal years.

2. The assets of the fund shall be used by the department of workforce development for the following programs and purposes:

a. Projects under chapter 260F. The department of workforce development shall require a match from all businesses participating in a training project under chapter 260F.

b. Apprenticeship programs under section 260C.44, including new or statewide building trades apprenticeship programs.

c. To support efforts by the community colleges to provide workforce services to Iowa employers.

3. Moneys in the workforce development fund shall be allocated as follows:

a. Three million dollars shall be used for purposes provided in section 260F.6.

b. One million dollars shall be used for purposes provided in section 260F.6B.