Iowa § 15E.26 - 15E.26 Definitions.

§ 15E.26. 15E.26 Definitions.

For purposes of this subchapter, unless the context otherwise requires: 1. “Affiliate” means a spouse, child, or sibling of an investor or a corporation, partnership, or trust in which an investor has a controlling equity interest or in which an investor exercises management control. 2. “Authority” means the economic development authority created in section 15.105. 3. “Entrepreneurial assistance program” includes the entrepreneur investment awards program administered under section 15E.362, the receipt of services from a service provider engaged pursuant to section 15.411, subsection 1, or the program administered under section 15.411, subsection 2. 4. “Investment” means a minimum cash investment of ten thousand dollars in a qualifying business. 5. “Investor” means a person making a cash investment in a qualifying business. “Investor” does not include a person that holds at least a seventy percent ownership interest as an owner, member, or shareholder in a qualifying business. 6. “Qualifying business” means a business meeting the criteria defined in section 15E.28. 7. “Rural area” means a city that has a population of fifteen thousand or less based on the most recent decennial census released by the United States census bureau. 8. “Urban area” means a city that has a population of greater than fifteen thousand based on the most recent decennial census released by the United States census bureau. 2025 Acts, ch 136, §61 NEW section Wed Dec 10 22:05:18 2025 Iowa Code 2026, Section 15E.26 (26, 4)