This bill amends Section 261B.8 of the Iowa Code to establish an annual authorization fee to be collected by the college student aid commission from certain postsecondary educational institutions that are not required to register with the commission. The fee structure is defined in a new subsection, which specifies that entities exempt from registration under Code chapter 261B or those conducting educational courses in Iowa under Code section 714.18 will be subject to this fee. The amounts are set at $2,000 for entities with a primary location in Iowa and $3,500 for those located outside Iowa, with specific provisions for entities providing driver education.

Additionally, the bill allows the commission to adjust the fee annually by a maximum of three percent. The fees will be established based on the costs of administering the chapter and will be set by rule no more than once each year. This legislative change aims to ensure that the commission can effectively manage and oversee educational institutions that operate in Iowa without being subject to the standard registration requirements.

Statutes affected:
Introduced: 261B.8