1. 1. An application for financial assistance under the program shall be submitted to the authority. For each application that meets the eligibility criteria under subsection 2, the authority shall conduct a staff evaluation of the application and forward the application and staff evaluation to the board.

2. 2.

   1. a. The authority shall establish eligibility criteria for the program by rule. The eligibility criteria must include all of the following:

      1. (1) The entity must currently be involved in the bidding and selection process for the event for which the entity submits an application.

      2. (2) The entity’s application under subsection 1 must include an economic analysis of the event that includes but is not limited to all of the following:

         1. (a) Projected hotel and motel room occupancies during the event.
         2. (b) Projected number of event attendees from this state, other states, and other countries.

   2. b. Notwithstanding paragraph “a”, an entity shall be deemed eligible for the program if any of the following apply:

      1. (1) After a highly competitive bidding and selection process involving potential sites not located in this state, a location in Iowa has been selected for the entity’s event.
      2. (2) This state serves as the sole site for the entity’s event.
      3. (3) The sole site for the entity’s event is a geographical region that includes this state and one or more contiguous states.

3. 3. When evaluating an application, the authority shall consider, at a minimum, all of the following:

   1. a. The potential impact of the event on the local, regional, and state economies.
   2. b. The event’s potential to attract visitors from this state, other states, and other countries.
   3. c. The amount of positive advertising or media coverage the event may generate.
   4. d. The quality, size, and scope of the event.
   5. e. The ratio of public-to-private investment required for the event.

4. 4.

   1. a.

      1. (1) Upon review of the staff evaluation, the board shall make the final funding decision on each application and may approve, deny, defer, or modify each application, in the board’s discretion, to fund as many events as possible with the moneys available. The board and the authority may negotiate with an eligible applicant regarding the details of the applicant’s proposed event and the amount and terms of any financial assistance. In making final funding decisions pursuant to this subsection, the board and the authority shall be exempt from chapter 17A.
      2. (2) An application and staff evaluation forwarded to the board under subsection 1 shall remain eligible for consideration by the board under subparagraph (1) for up to two years from the date of receipt of the application by the board.
   2. b. In order to be awarded financial assistance under the program, an applicant must demonstrate the ability to provide matching funds for the event that equal at least fifty percent of the award of financial assistance.

NEW section

2025 Acts, ch 160, §11

Referred to in §15G.104