Eligible fairs that meet the membership and event requirements can receive state aid, but the money must be used only for specified capital expenditures, and the fair must file an annual statement by November 15.
An eligible fair which is a member of the association of Iowa fairs as provided in the association’s bylaws and which conducts a fair event shall be entitled to receive state aid as provided in this chapter. The moneys paid as state aid must be used exclusively for capital expenditures relating to the acquisition of land for fairgrounds and improvements on the fairgrounds such as the construction of new facilities and the renovation of existing facilities. In order to be eligible for state aid, a fair must file with the association of Iowa fairs on or before November 15 of each year, a statement which provides information as required by the association of Iowa fairs. The information shall at least include all of the following: 1. The amount that the fair paid in cash premiums at its fair for the current year. The statement must correspond with its published offer of premiums. 2. A statement that no part of the amount of state aid was paid for any of the following: a. Entertainment venues, including but not limited to speed events. b. To secure games or amusements. c. Supplies, rentals, equipment, payroll, inventory, fees, or routine operating expenses. 3. A full and accurate statement of the receipts and expenditures of the fair for the current year. 4. A statement of statistical data relative to exhibits and attendance for the year. 5. A copy of the published financial statement published as required by law, together with proof of such publication showing an itemized list of premiums awarded. [R60, §1698, 1704; C73, §1110, 1112; C97, §1659, 1661; S13, §1659; SS15, §1661-a; C24, 27, 31, 35, 39, §2902; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §174.9] 96 Acts, ch 1218, §30, 31; 97 Acts, ch 215, §33, 34; 99 Acts, ch 204, §30, 31; 2004 Acts, ch 1019, §14 Referred to in §174.10