Iowa Admin. Code r. 261-52.2

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

Rule 261-52.2 - Certification

(1) A business must be certified as a targeted small business by the authority to participate in the program. Businesses seeking certification shall submit an application to the authority in the form and content required by the authority. The application will include information to establish whether a business meets the eligibility criteria of the program. An authorized representative of the business shall sign the application and an authorization to release information. Applications may be requested by contacting the authority or by visiting the authority's website.

(2) The authority reviews applications to determine whether a business is eligible to participate in the program pursuant to this chapter as in effect as of the date of application for certification. The authority will notify applicants in writing of its decision.

(3) Certified businesses shall submit verification of continued eligibility to the authority at least every two years. The application for recertification will be provided by the authority. The authority will determine whether a certified business is eligible for recertification pursuant to this chapter as in effect as of the date of application for recertification.

(4) A business that fails to provide any supplemental information requested by the authority may be denied certification or recertification.

(5) Any business that is denied certification or decertified may reapply. The business bears the burden of demonstrating eligibility.

(6) A certified business shall notify the authority within 30 days following a change in ownership or control of a certified business or if the targeted group person no longer actively manages the business. The notice must be accompanied by sufficient documentation to determine whether the business continues to be eligible for certification. The authority may require a business to submit a new application following a change in ownership, control, or management.

Iowa Admin. Code r. 261-52.2

Adopted by IAB January 17, 2018/Volume XL, Number 15, effective 2/21/2018

Amended by IAB September 22, 2021/Volume XLIV, Number 6, effective 10/27/2021

Amended by IAB January 11, 2023/Volume XLV, Number 14, effective 2/15/2023

Adopted by IAB October 16, 2024/Volume XLVII, Number 7, effective 11/20/2024