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 based on the primary location of the entity, with a fee of $2,000 for entities located in Iowa and $3,500 for those located outside Iowa, provided they are exempt under section 261B.11 or subject to section 714.18, excluding certain driver education providers. The commission is authorized to adjust the fee annually by a maximum of three percent.

Additionally, the bill specifies that the fees will be set by rule once a year and will reflect the costs associated with administering the chapter. The new language clarifies the fee collection process and outlines the specific amounts based on the entity's location, ensuring that the commission can effectively manage and regulate educational institutions operating in Iowa.

Statutes affected:
Introduced: 261B.8