Iowa Admin. Code r. 261-12.6

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

Rule 261-12.6 - Determination of financial assistance grants

The authority will provide financial assistance in the form of training grants to eligible apprenticeship sponsors or lead apprenticeship sponsors. The maximum amount of financial assistance provided to an eligible apprenticeship sponsor or lead apprenticeship sponsor will be calculated in the following manner:

(1) By determining the total amount of funding allocated for purposes of training grants for apprenticeship programs as described in rule 261-12.4 (15,15B).

(2) By determining the total number of apprentices trained during the most recent training year, as calculated on the last day of the training year, in all apprenticeship programs conducted by all applying apprenticeship sponsors or lead apprenticeship sponsors eligible to apply for financial assistance under rule 261-12.5 (15,15B).

(3) By determining the total number of apprentices trained during the training year, as calculated on the last day of the training year, in each apprenticeship program conducted by each applying apprenticeship sponsor or lead apprenticeship sponsor eligible to apply and that applied for financial assistance under rule 261-12.5 (15,15B).

(4) By determining the proportion, stated as a percentage, that each applying apprenticeship sponsor's or lead apprenticeship sponsor's total calculated pursuant to subrule 12.6(3) bears to all applying apprenticeship sponsors' or lead apprenticeship sponsors' total calculated pursuant to subrule 12.6(2).

(5) By multiplying the percentage calculated in subrule 12.6(4) by the amount determined in subrule 12.6(1).

Iowa Admin. Code r. 261-12.6

Adopted by IAB January 21, 2015/Volume XXXVII, Number 15, effective 2/25/2015

Amended by IAB October 6, 2021/Volume XLIV, Number 7, effective 11/10/2021