Text: HF575            Text: HF577
Complete Bill History


House File 576

HOUSE FILE BY COMMITTEE ON STATE GOVERNMENT (SUCCESSOR TO HSB 191) A BILL FOR 1 An Act relating to the Iowa finance authority and making an 2 appropriation. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 2116HV (1) 85 ec/nh PAG LIN 1 1 DIVISION I 1 2 IOWA JOBS BOARD 1 3 Section 1. Section 12.87, subsection 12, Code 2013, is 1 4 amended to read as follows: 1 5 12. Neither the treasurer of state, the Iowa jobs board 1 6 finance authority, nor any person acting on behalf of the 1 7 treasurer of state or the Iowa jobs board finance authority 1 8 while acting within the scope of their employment or agency, is 1 9 subject to personal liability resulting from carrying out the 1 10 powers and duties conferred by this section and sections 12.88 1 11 through 12.90. 1 12 Sec. 2. Section 16.193, subsection 1, Code 2013, is amended 1 13 to read as follows: 1 14 1. The Iowa finance authority, subject to approval by the 1 15 Iowa jobs board, shall adopt administrative rules pursuant to 1 16 chapter 17A necessary to administer the Iowa jobs program and 1 17 Iowa jobs II program. The authority shall provide the board 1 18 with assistance in implementing administrative functions, be 1 19 responsible for providing technical assistance and application 1 20 assistance to applicants under the programs, negotiating 1 21 contracts, and providing project follow up. The authority, in 1 22 cooperation with the board, may conduct negotiations on behalf 1 23 of the board with applicants regarding terms and conditions 1 24 applicable to awards under the program. 1 25 Sec. 3. Section 16.194, subsection 2, Code 2013, is amended 1 26 to read as follows: 1 27 2. A city or county or a public organization in this 1 28 state may submit an application to the Iowa jobs board 1 29 authority for financial assistance for a local infrastructure 1 30 competitive grant for an eligible project under the program, 1 31 notwithstanding any limitation on the state's percentage in 1 32 funding as contained in section 29C.6, subsection 17. 1 33 Sec. 4. Section 16.194, subsection 4, unnumbered paragraph 1 34 1, Code 2013, is amended to read as follows: 1 35 The board authority shall consider the following criteria in 2 1 evaluating eligible projects to receive financial assistance 2 2 under the program: 2 3 Sec. 5. Section 16.194, subsection 7, Code 2013, is amended 2 4 to read as follows: 2 5 7. In order for a project to be eligible to receive 2 6 financial assistance from the board authority, the project 2 7 must be a public construction project pursuant to subsection 1 2 8 with a demonstrated substantial local, regional, or statewide 2 9 economic impact. 2 10 Sec. 6. Section 16.194, subsection 8, unnumbered paragraph 2 11 1, Code 2013, is amended to read as follows: 2 12 The board authority shall not approve an application for 2 13 assistance for any of the following purposes: 2 14 Sec. 7. Section 16.194, subsection 9, paragraph b, Code 2 15 2013, is amended to read as follows: 2 16 b. Any portion of an amount allocated for projects 2 17 that remains unexpended or unencumbered one year after the 2 18 allocation has been made may be reallocated to another project 2 19 category, at the discretion of the board authority. The board 2 20 authority shall ensure that all bond proceeds be expended 2 21 within three years from when the allocation was initially made. 2 22 Sec. 8. Section 16.194, subsection 10, Code 2013, is amended 2 23 to read as follows: 2 24 10. The board authority shall ensure that funds obligated 2 25 under this section are coordinated with other federal program 2 26 funds received by the state, and that projects receiving funds 2 27 are located in geographically diverse areas of the state. 2 28 Sec. 9. Section 16.194A, subsections 2, 7, 9, and 10, Code 2 29 2013, are amended to read as follows: 2 30 2. A city or county in this state that applies the smart 2 31 planning principles and guidelines pursuant to sections 18B.1 2 32 and 18B.2 may submit an application to the Iowa jobs board 2 33 authority for financial assistance for a local infrastructure 2 34 competitive grant for an eligible project under the program, 2 35 notwithstanding any limitation on the state's percentage in 3 1 funding as contained in section 29C.6, subsection 17. 3 2 7. In order for a project to be eligible to receive 3 3 financial assistance from the board authority, the project 3 4 must be a public construction project pursuant to subsection 1 3 5 with a demonstrated substantial local, regional, or statewide 3 6 economic impact. 3 7 9. Any portion of an amount allocated for projects 3 8 that remains unexpended or unencumbered one year after the 3 9 allocation has been made may be reallocated to another project 3 10 category, at the discretion of the board authority. The board 3 11 authority shall ensure that all bond proceeds be expended 3 12 within three years from when the allocation was initially made. 3 13 10. The board authority shall ensure that funds obligated 3 14 under this section are coordinated with other federal program 3 15 funds received by the state, and that projects receiving funds 3 16 are located in geographically diverse areas of the state. 3 17 Sec. 10. Section 16.194A, subsection 4, unnumbered 3 18 paragraph 1, Code 2013, is amended to read as follows: 3 19 The board authority shall consider the following criteria in 3 20 evaluating eligible projects to receive financial assistance 3 21 under the program: 3 22 Sec. 11. Section 16.194A, subsection 8, unnumbered 3 23 paragraph 1, Code 2013, is amended to read as follows: 3 24 The board authority shall not approve an application for 3 25 assistance for any of the following purposes: 3 26 Sec. 12. Section 16.195, Code 2013, is amended to read as 3 27 follows: 3 28 16.195 Iowa jobs program application review. 3 29 1. Applications for assistance under the Iowa jobs program 3 30 and Iowa jobs II program shall be submitted to the Iowa finance 3 31 authority for review and approval. The authority shall provide 3 32 a staff review and evaluation of applications to the Iowa jobs 3 33 program review committee referred to in subsection 2 and to the 3 34 Iowa jobs board. 3 35 2. A review committee composed of members of the board 4 1 as determined by the board shall review Iowa jobs program 4 2 applications submitted to the board and make recommendations 4 3 regarding the applications to the board. When reviewing the 4 4 applications, the review committee and the authority shall 4 5 consider the project criteria specified in sections 16.194 and 4 6 16.194A. The board authority shall develop the appropriate 4 7 level of transparency regarding project fund allocations. 4 8 3. Upon approval of an application for financial assistance 4 9 under the program, the board authority shall notify the 4 10 treasurer of state regarding the amount of moneys needed to 4 11 satisfy the award of financial assistance and the terms of the 4 12 award. The treasurer of state shall notify the Iowa finance 4 13 authority any time moneys are disbursed to a recipient of 4 14 financial assistance under the program. 4 15 Sec. 13. Section 16.196, Code 2013, is amended to read as 4 16 follows: 4 17 16.196 Iowa jobs restricted capitals fund ==== fund 4 18 appropriations. 4 19 1. An Iowa jobs restricted capitals fund is created and 4 20 established as a separate and distinct fund in the state 4 21 treasury. The fund consists of moneys appropriated from 4 22 the revenue bonds capitals fund created in section 12.88. 4 23 The moneys in the fund are appropriated to the Iowa jobs 4 24 board for purposes of the Iowa jobs program established in 4 25 section 16.194. Moneys in the fund shall not be subject to 4 26 appropriation for any other purpose by the general assembly, 4 27 but shall be used only for the purposes of the Iowa jobs 4 28 program. The treasurer of state shall act as custodian of the 4 29 fund and disburse moneys contained in the fund. The fund shall 4 30 be administered by the board which shall make allocations from 4 31 the fund consistent with the purposes of the Iowa jobs program. 4 32 2. 1. There is appropriated from the revenue bonds capitals 4 33 fund created in section 12.88, to the Iowa jobs restricted 4 34 capitals fund authority, for the fiscal year beginning July 1, 4 35 2009, and ending June 30, 2010, one hundred sixty=five million 5 1 dollars to be allocated as follows: 5 2 a. One hundred eighteen million five hundred thousand 5 3 dollars for competitive grants for local infrastructure 5 4 projects relating to disaster rebuilding, reconstruction 5 5 and replacement of local buildings, flood control and flood 5 6 protection, and future flood prevention public projects. An 5 7 applicant for a local infrastructure grant shall not receive 5 8 more than fifty million dollars in financial assistance from 5 9 the fund. 5 10 b. Forty=six million five hundred thousand dollars for 5 11 disaster relief and mitigation and local infrastructure 5 12 grants for the following renovation and construction projects, 5 13 notwithstanding any limitation on the state's percentage 5 14 participation in funding as contained in section 29C.6, 5 15 subsection 17: 5 16 (1) For grants to a county with a population between 5 17 one hundred eighty=nine thousand and one hundred ninety=six 5 18 thousand in the latest preceding certified federal census, to 5 19 be distributed as follows: 5 20 (a) Ten million dollars for the construction of a new, 5 21 shared facility between nonprofit human service organizations 5 22 serving the public, especially the needs of low=income Iowans, 5 23 including those displaced as a result of the disaster of 2008. 5 24 (b) Five million dollars for the construction or renovation 5 25 of a facility for a county=funded workshop program serving 5 26 the public and particularly persons with mental illness or 5 27 developmental disabilities. 5 28 (2) For grants to a city with a population between one 5 29 hundred ten thousand and one hundred twenty thousand in the 5 30 latest preceding certified federal census, to be distributed 5 31 as follows: 5 32 (a) Five million dollars for an economic redevelopment 5 33 project benefiting the public by improving energy efficiency 5 34 and the development of alternative and renewable energy 5 35 technologies. 6 1 (b) Ten million dollars for a museum serving the public and 6 2 dedicated to the preservation of an eastern European cultural 6 3 heritage through the collection, exhibition, preservation, and 6 4 interpretation of historical artifacts. 6 5 (c) Five million dollars for a theater serving the public 6 6 and promoting culture, entertainment, and tourism. 6 7 (d) Five million dollars for a public library. 6 8 (e) Five million dollars for a public works building. 6 9 (3) One million five hundred thousand dollars, to be 6 10 distributed as follows: 6 11 (a) Five hundred thousand dollars to a city with a 6 12 population between six hundred and six hundred fifty in the 6 13 latest preceding certified federal census, for a public fire 6 14 station. 6 15 (b) Five hundred thousand dollars to a city with a 6 16 population between one thousand four hundred and one thousand 6 17 five hundred in the latest preceding certified federal census, 6 18 for a public fire station. 6 19 (c) Five hundred thousand dollars for a city with a 6 20 population between seven thousand eight hundred and seven 6 21 thousand eight hundred fifty, for a public fire station. 6 22 3. 2. Grant awards for a project under subsection 2 1, 6 23 paragraph "b", are contingent upon submission of a plan for each 6 24 project by the applicable county or city governing board or in 6 25 the case of a project submitted pursuant to subsection 2 1, 6 26 paragraph "b", subparagraph (2), subparagraph division (b), by 6 27 the board of directors, to the Iowa jobs board authority, no 6 28 later than September 1, 2009, detailing a description of the 6 29 project, the plan to rebuild, and the amount or percentage of 6 30 federal, state, local, or private matching moneys which will 6 31 be or have been provided for the project. Funds not utilized 6 32 in accordance with subsection 2, paragraph "b", due to failure 6 33 to file a plan by the September 1 deadline 1, shall revert to 6 34 the Iowa jobs restricted revenue bonds capitals fund to be 6 35 available for local infrastructure competitive grants. A grant 7 1 recipient under subsection 2 1, paragraph "b", shall not be 7 2 precluded from applying for a local infrastructure competitive 7 3 grant pursuant to this section and section 16.195. 7 4 4. Moneys in the fund are not subject to section 8.33. 7 5 Notwithstanding section 12C.7, subsection 2, interest or 7 6 earnings on moneys in the fund shall be credited to the fund. 7 7 5. 3. Annually, on or before January 15 of each year, the 7 8 board authority shall report to the legislative services agency 7 9 and the department of management the status of all projects 7 10 receiving moneys from the fund completed or in progress. The 7 11 report shall include a description of the project, the progress 7 12 of work completed, the total estimated cost of the project, a 7 13 list of all revenue sources being used to fund the project, the 7 14 amount of funds expended, the amount of funds obligated, and 7 15 the date the project was completed or an estimated completion 7 16 date of the project, where applicable. 7 17 6. 4. Payment of moneys appropriated from the fund shall be 7 18 made in a manner that does not adversely affect the tax=exempt 7 19 status of any outstanding bonds issued by the treasurer of 7 20 state. 7 21 Sec. 14. Section 16.197, Code 2013, is amended to read as 7 22 follows: 7 23 16.197 Limitation of liability. 7 24 A member of the Iowa jobs board, a person acting on behalf of 7 25 the board while acting within the scope of their employment or 7 26 agency, The authority or the treasurer of state, shall not be 7 27 subject to personal liability resulting from carrying out the 7 28 powers and duties of the board authority or the treasurer, as 7 29 applicable, in sections 16.192 16.193 through 16.196. 7 30 Sec. 15. IOWA JOBS BOARD ==== TRANSITION PROVISIONS ==== 7 31 LIMITATION OF LIABILITY. 7 32 1. Any contract or agreement issued or entered into by the 7 33 Iowa jobs board relating to the provisions of this division 7 34 of this Act, in effect on the effective date of this division 7 35 of this Act, shall continue in full force and effect and 8 1 any responsibility of the board relative to the contracts or 8 2 agreements as provided in those contracts or agreements shall 8 3 be transferred to the Iowa finance authority. 8 4 2. A member of the Iowa jobs board or a person acting on 8 5 behalf of the board while acting within the scope of that 8 6 person's employment or agency shall not be subject to personal 8 7 liability resulting from carrying out the powers and duties 8 8 of the board prior to the effective date of this division of 8 9 this Act, as applicable, in sections 12.87 through 12.90 and in 8 10 sections 16.192 through 16.196, Code 2013. 8 11 Sec. 16. REPEAL. Sections 16.191 and 16.192, Code 2013, 8 12 are repealed. 8 13 DIVISION II 8 14 TITLE GUARANTY 8 15 Sec. 17. Section 16.1, subsection 1, paragraph ad, 8 16 subparagraph (7), Code 2013, is amended to read as follows: 8 17 (7) The Iowa title guaranty program. 8 18 Sec. 18. Section 16.2A, subsection 1, Code 2013, is amended 8 19 to read as follows: 8 20 1. A title guaranty division is created within the 8 21 authority. The division may also be referred to as Iowa title 8 22 guaranty. The powers of the division relating to the issuance 8 23 of title guaranties are vested in and shall be exercised by 8 24 a division board of five members appointed by the governor 8 25 subject to confirmation by the senate. The membership of 8 26 the board shall include an attorney, an abstractor, a real 8 27 estate broker, a representative of a mortgage lender, and 8 28 a representative of the housing development industry. The 8 29 executive director of the authority shall appoint an attorney 8 30 as director of the title guaranty division, who shall serve 8 31 as an ex officio member of the board. The appointment of and 8 32 compensation for the division director are exempt from the 8 33 merit system provisions of chapter 8A, subchapter IV. 8 34 Sec. 19. Section 16.91, subsections 1, 3, and 4, Code 2013, 8 35 are amended to read as follows: 9 1 1. The authority through the title guaranty division shall 9 2 initiate and operate a program in which the division shall 9 3 offer guaranties of real property titles in this state. The 9 4 terms, conditions, and form of the guaranty contract shall be 9 5 forms approved by the division board. The division shall fix 9 6 a charge for the guaranty in an amount sufficient to permit 9 7 the program to operate on a self=sustaining basis, including 9 8 payment of administrative costs and the maintenance of an 9 9 adequate reserve against claims under the Iowa title guaranty 9 10 program. A title guaranty fund is created in the office of 9 11 the treasurer of state. Funds collected under this program 9 12 shall be placed in the title guaranty fund and are available 9 13 to pay all claims, necessary reserves and all administrative 9 14 costs of the Iowa title guaranty program. Moneys in the fund 9 15 shall not revert to the general fund and interest on the 9 16 moneys in the fund shall be deposited in the housing trust 9 17 fund established in section 16.181 and shall not accrue to the 9 18 general fund. If the authority board in consultation with the 9 19 division board determines that there are surplus funds in the 9 20 title guaranty fund after providing for adequate reserves and 9 21 operating expenses of the division, the surplus funds shall be 9 22 transferred to the housing assistance fund created pursuant to 9 23 section 16.40. 9 24 3. With the approval of the authority board the division 9 25 and its board shall consult with the insurance division of 9 26 the department of commerce in developing a guaranty contract 9 27 acceptable to the secondary market and developing any other 9 28 feature of the program with which the insurance division may 9 29 have special expertise. The insurance division shall establish 9 30 the amount for a loss reserve fund. Except as provided in this 9 31 subsection, the Iowa title guaranty program is not subject to 9 32 the jurisdiction of or regulation by the insurance division or 9 33 the commissioner of insurance. 9 34 4. Each participating attorney and abstractor may be 9 35 required to pay an annual participation fee to be eligible to 10 1 participate in the Iowa title guaranty program. The fee, if 10 2 any, shall be set by the division, subject to the approval of 10 3 the authority. 10 4 Sec. 20. Section 16.91, subsection 5, paragraph a, 10 5 subparagraph (2), Code 2013, is amended to read as follows: 10 6 (2) Additionally, each participating abstractor is required 10 7 to own or lease, and maintain and use in the preparation of 10 8 abstracts, an up=to=date abstract title plant including tract 10 9 indices for real estate for each county in which abstracts are 10 10 prepared for real property titles guaranteed by the division. 10 11 The tract indices shall contain a reference to all instruments 10 12 affecting the real estate which are recorded in the office of 10 13 the county recorder, and shall commence not less than forty 10 14 years prior to the date the abstractor commences participation 10 15 in the Iowa title guaranty program. However, a participating 10 16 attorney providing abstract services continuously from November 10 17 12, 1986, to the date of application, either personally or 10 18 through persons under the attorney's supervision and control is 10 19 exempt from the requirements of this subparagraph. 10 20 Sec. 21. Section 16.91, subsection 8, Code 2013, is amended 10 21 to read as follows: 10 22 8. The authority shall adopt rules pursuant to chapter 17A 10 23 that are necessary for the implementation of the Iowa title 10 24 guaranty program as established by the division and that have 10 25 been approved by the authority. 10 26 Sec. 22. Section 16.92, subsection 1, paragraph g, Code 10 27 2013, is amended to read as follows: 10 28 g. "Participating abstractor" means an abstractor 10 29 participating in the Iowa title guaranty program. 10 30 Sec. 23. Section 447.13, subsection 1, Code 2013, is amended 10 31 to read as follows: 10 32 1. The cost of serving the notice, including the cost of 10 33 sending certified mail notices, and the cost of publication 10 34 under section 447.10, if publication is required, shall be 10 35 added to the amount necessary to redeem. The cost of a record 11 1 search shall also be added to the amount necessary to redeem. 11 2 However, if the certificate holder is other than a county, the 11 3 search must be performed by an abstractor who is an active 11 4 participant in the Iowa title guaranty program under section 11 5 16.91 or by an attorney licensed to practice law in the state 11 6 of Iowa, and the amount of the cost of the record search that 11 7 may be added to the amount necessary to redeem shall not exceed 11 8 three hundred dollars. 11 9 DIVISION III 11 10 IOWA FINANCE AUTHORITY 11 11 Sec. 24. Section 7C.4A, subsection 5, Code 2013, is amended 11 12 to read as follows: 11 13 5. Eighteen percent of the state ceiling shall be allocated 11 14 to bonds issued by political subdivisions to finance a 11 15 qualified industry or industries for the manufacturing, 11 16 processing, or assembly of agricultural or manufactured 11 17 products even though the processed products may require further 11 18 treatment before delivery to the ultimate consumer. A single 11 19 project allocated a portion of the state ceiling pursuant to 11 20 this subsection shall not receive an allocation in excess of 11 21 ten million dollars in any calendar year. 11 22 Sec. 25. Section 16.1, subsection 1, paragraph ae, 11 23 subparagraph (1), Code 2013, is amended to read as follows: 11 24 (1) Real or personal property connected with a facility to 11 25 be acquired, constructed, financed, refinanced, improved, or 11 26 equipped pursuant to one or more of the programs, including any 11 27 such property located outside of the state if the authority 11 28 has conclusively determined that the entity financing or 11 29 refinancing property located outside the state, or an affiliate 11 30 thereof, is also engaged in the financing or refinancing of 11 31 property located within the state, or, alternatively, the 11 32 entity seeking the financing or refinancing, or an affiliate 11 33 thereof, maintains a presence within the state, and financing 11 34 or refinancing the property located outside the state would 11 35 promote the economy of the state for the benefit of the health, 12 1 welfare, safety, trade, commerce, industry, or economy of the 12 2 people of the state. 12 3 Sec. 26. Section 16.3, subsection 2, Code 2013, is amended 12 4 to read as follows: 12 5 2. The authority will be performing an essential 12 6 governmental function in the exercise of the powers and 12 7 duties conferred upon it by this chapter, and shall have broad 12 8 discretion in interpreting the provisions of this chapter. 12 9 Sec. 27. Section 16.5, subsection 1, unnumbered paragraph 12 10 1, Code 2013, is amended to read as follows: 12 11 The Notwithstanding any provision of law to the contrary, 12 12 the authority has any and all powers necessary and convenient 12 13 to carry out its purposes and duties, and exercise its specific 12 14 powers, including but not limited to the power to: 12 15 Sec. 28. Section 16.5, subsection 1, paragraph a, Code 2013, 12 16 is amended to read as follows: 12 17 a. Issue its negotiable bonds and notes as provided in 12 18 this chapter in order to finance its programs. In addition, 12 19 the authority may issue bonds, notes, or other obligations for 12 20 public or private entities for the purpose of financing any 12 21 project regardless of location. 12 22 Sec. 29. Section 16.5, subsection 1, paragraph o, Code 2013, 12 23 is amended to read as follows: 12 24 o. Contract directly with architects, engineers, attorneys, 12 25 accountants, housing construction and finance experts, 12 26 and other advisors. However, the authority may enter into 12 27 contracts or agreements for such services with local, state, or 12 28 federal governmental agencies. 12 29 Sec. 30. Section 16.5, subsection 1, paragraph r, Code 2013, 12 30 is amended to read as follows: 12 31 r. Make, alter, and repeal rules consistent with the 12 32 provisions of this chapter, and subject to chapter 17A, 12 33 including rules relating to Iowa finance authority programs. 12 34 Sec. 31. Section 16.5, subsection 1, Code 2013, is amended 12 35 by adding the following new paragraph: 13 1 NEW PARAGRAPH. 0u. Interpret, construe, and execute the 13 2 laws, rules, and regulations of this state relating to Iowa 13 3 finance authority programs. 13 4 Sec. 32. Section 16.26, Code 2013, is amended by adding the 13 5 following new subsections: 13 6 NEW SUBSECTION. 10. In connection with any financing 13 7 which involves an out=of=state issuer issuing bonds, notes, or 13 8 other obligations for facilities located in the state, the 13 9 authority is designated as the only governmental unit in the 13 10 state that may conduct the public hearing required by section 13 11 147(f) of the federal Internal Revenue Code, as defined in 13 12 section 422.3, and the governor of Iowa is designated as the 13 13 applicable elected representative pursuant to section 147(f) of 13 14 the federal Internal Revenue Code, as defined in section 422.3. 13 15 NEW SUBSECTION. 11. All bonds or notes issued by the 13 16 authority in connection with its single family and multifamily 13 17 programs are exempt from taxation by this state, and the 13 18 interest on the bonds or notes is exempt from state income tax. 13 19 Sec. 33. NEW SECTION. 16.182A Special projects revolving 13 20 loan program fund. 13 21 1. A special projects revolving loan program fund is 13 22 created within the authority to further the goal of the senior 13 23 living program as specified in section 249H.2, further the 13 24 objectives specified in section 231.3, and adult day services, 13 25 respite services, congregate meals, health and wellness, 13 26 health screening, and nutritional assessments, and further 13 27 the availability of affordable housing for parents that are 13 28 reuniting with their children while completing or participating 13 29 in substance abuse treatment. 13 30 2. The moneys in the special projects revolving loan program 13 31 fund are appropriated to and shall be used by the authority for 13 32 the development and operation of a revolving loan program to 13 33 provide financing for all of the following: 13 34 a. To construct affordable assisted living and 13 35 service=enriched affordable housing for seniors and persons 14 1 with disabilities, including through new construction or 14 2 acquisition and rehabilitation. 14 3 b. To develop and expand facilities and infrastructure 14 4 that provide adult day services, respite services, congregate 14 5 meals, and programming space for health and wellness, health 14 6 screening, and nutritional assessments that address the needs 14 7 of persons with low incomes. 14 8 c. To construct affordable transitional housing, including 14 9 through new construction or acquisition and rehabilitation of 14 10 existing housing. The transitional housing provided shall be 14 11 geographically located in close proximity to licensed substance 14 12 abuse treatment programs. 14 13 3. The authority shall annually allocate moneys available 14 14 in the fund to approved applicants. 14 15 4. Additionally, payments of interest, recaptures of 14 16 awards, and other repayments shall be deposited in the fund. 14 17 Notwithstanding section 12C.7, subsection 2, interest or 14 18 earnings on moneys in the special projects revolving loan 14 19 program fund shall be credited to the fund. Notwithstanding 14 20 section 8.33, moneys that remain unencumbered or unobligated 14 21 at the end of the fiscal year shall not revert but shall remain 14 22 available for the same purpose in the succeeding fiscal year. 14 23 5. Loans awarded shall be awarded to applicants in the order 14 24 received. 14 25 6. The authority shall adopt rules pursuant to chapter 17A 14 26 to administer this section. 14 27 Sec. 34. REPEAL. Sections 16.182, 16.183, and 16.184, Code 14 28 2013, are repealed. 14 29 Sec. 35. TRANSITION PROVISIONS ==== CONSOLIDATION OF 14 30 FUNDS. Any moneys remaining in the senior living revolving 14 31 loan program fund, home and community=based services revolving 14 32 loan program fund, and the transitional housing revolving 14 33 loan program fund on the effective date of this Act shall be 14 34 transferred to the special projects revolving loan program fund 14 35 as enacted in this Act. 15 1 EXPLANATION 15 2 This bill concerns the Iowa finance authority. 15 3 Division I eliminates the Iowa jobs board and provides that 15 4 any duties or responsibilities of the Iowa jobs board shall 15 5 become the responsibility of the Iowa finance authority. The 15 6 division also provides transition provisions relative to any 15 7 contracts or agreements entered into by the Iowa jobs board and 15 8 provides for a limitation of personal liability for actions by 15 9 a member or agent of the board taken prior to the effective 15 10 date of the division relative to the duties of the board. 15 11 Division II renames the title guaranty program as the 15 12 Iowa title guaranty program. The bill also allows the title 15 13 guaranty division to be referred to as Iowa title guaranty. 15 14 Division III concerns bond activity and the Iowa finance 15 15 authority. 15 16 Code section 7C.4A(5), concerning the allocation of 15 17 the state ceiling on bonds to bonds issued by a political 15 18 subdivision, is amended to strike the provision limiting any 15 19 one project from receiving more than $10 million of private 15 20 activity bonds. 15 21 Code section 16.1(1)(ae), defining "project" for purposes 15 22 of the Iowa finance authority programs, is amended to include 15 23 projects for property located outside of the state if the 15 24 entity seeking the financing of the project has some connection 15 25 to the state and the project will benefit the state. 15 26 Code section 16.3, concerning legislative findings relative 15 27 to the Iowa finance authority, is amended to provide that 15 28 the Iowa finance authority shall have broad discretion in 15 29 interpreting the provisions of the Code chapter governing the 15 30 Iowa finance authority. 15 31 Code section 16.5, describing the general powers of the Iowa 15 32 finance authority, is amended. The bill provides that the Iowa 15 33 finance authority shall have the powers delineated in this Code 15 34 section notwithstanding any provision of law to the contrary. 15 35 The bill grants the power to the authority to contract directly 16 1 with architects, engineers, attorneys, and other advisors. 16 2 The Code section is also amended to provide that the Iowa 16 3 finance authority can issue bonds, notes, or other obligations 16 4 for public or private entities for the purpose of financing 16 5 any project regardless of location, to make, alter, and 16 6 repeal rules relating to Iowa finance authority programs, 16 7 and to interpret, construe, and execute the laws, rules, and 16 8 regulations of this state relating to Iowa finance authority 16 9 programs. 16 10 Code section 16.26, concerning bonds and notes, is amended. 16 11 The bill provides that for certain bonds, notes, or other 16 12 obligations, the authority is designated as the governmental 16 13 unit that may conduct the public hearing required by the 16 14 federal Internal Revenue Code and the governor of Iowa is 16 15 designated as the applicable elected representative pursuant to 16 16 the Internal Revenue Code. In addition, the bill allows for 16 17 bonds issued for the single family and multifamily programs to 16 18 be exempt from state income tax. 16 19 New Code section 16.182A creates the special projects 16 20 revolving loan program fund to further the goal of the senior 16 21 living program as specified in Code section 249H.2, to further 16 22 the objectives specified in Code section 231.3, and adult 16 23 day services, respite services, congregate meals, health and 16 24 wellness, health screening, and nutritional assessments, and 16 25 further the availability of affordable housing for parents 16 26 that are reuniting with their children while completing or 16 27 participating in substance abuse treatment. Moneys in the fund 16 28 are appropriated to the authority to be used for such purposes. 16 29 Moneys in the senior living revolving loan program fund, home 16 30 and community=based services revolving loan program fund, 16 31 and the transitional housing revolving loan program fund are 16 32 transferred to the special projects revolving loan program fund 16 33 and those funds are repealed. LSB 2116HV (1) 85 ec/nh
Text: HF575            Text: HF577 Complete Bill History