Text: HF2345            Text: HF2347
Complete Bill History


House File 2346

HOUSE FILE BY J. TAYLOR, KLEIN, HEIN, DE BOEF, MOORE, PAUSTIAN, QUIRK, SCHULTZ, GRASSLEY, WINDSCHITL, and HAGER A BILL FOR 1 An Act relating to funding for projects on roads and bridges 2 in critical need of repair or maintenance, and making an 3 appropriation. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 5785YH (3) 84 dea/nh PAG LIN 1 1 Section 1. Section 8.55, subsection 2, paragraph a, Code 1 2 Supplement 2011, is amended to read as follows: 1 3 a. The maximum balance of the fund is the amount equal to 1 4 two and one=half percent of the adjusted revenue estimate for 1 5 the fiscal year. If the amount of moneys in the Iowa economic 1 6 emergency fund is equal to the maximum balance, moneys in 1 7 excess of this amount shall be distributed as follows: 1 8 (1) The first sixty million dollars of the difference 1 9 between the actual net revenue for the general fund of the 1 10 state for the fiscal year and the adjusted revenue estimate for 1 11 the fiscal year shall be transferred to the taxpayers trust 1 12 fund. 1 13 (2) Moneys in excess of the amount transferred under 1 14 subparagraph (1), up to a maximum amount of sixty million 1 15 dollars, shall be transferred to the critical needs road fund 1 16 created under section 312B.1. 1 17 (2) (3) The remainder of the excess, if any, shall be 1 18 transferred to the general fund of the state. 1 19 Sec. 2. Section 8.58, Code Supplement 2011, is amended to 1 20 read as follows: 1 21 8.58 Exemption from automatic application. 1 22 1. To the extent that moneys appropriated under section 1 23 8.57 do not result in moneys being credited to the general fund 1 24 under section 8.55, subsection 2, moneys appropriated under 1 25 section 8.57 and moneys contained in the cash reserve fund, 1 26 rebuild Iowa infrastructure fund, environment first fund, Iowa 1 27 economic emergency fund, and taxpayers trust fund, and critical 1 28 needs road fund shall not be considered in the application of 1 29 any formula, index, or other statutory triggering mechanism 1 30 which would affect appropriations, payments, or taxation rates, 1 31 contrary provisions of the Code notwithstanding. 1 32 2. To the extent that moneys appropriated under section 1 33 8.57 do not result in moneys being credited to the general fund 1 34 under section 8.55, subsection 2, moneys appropriated under 1 35 section 8.57 and moneys contained in the cash reserve fund, 2 1 rebuild Iowa infrastructure fund, environment first fund, Iowa 2 2 economic emergency fund, and taxpayers trust fund, and critical 2 3 needs road fund shall not be considered by an arbitrator or in 2 4 negotiations under chapter 20. 2 5 Sec. 3. NEW SECTION. 312B.1 Critical needs road fund. 2 6 1. A critical needs road fund is created in the state 2 7 treasury under the control of the department of transportation. 2 8 The fund shall be separate from the general fund of the state 2 9 and the balance in the fund shall not be considered part of 2 10 the balance of the general fund of the state. The fund shall 2 11 consist of moneys appropriated by the general assembly and any 2 12 revenues credited by law to the critical needs road fund. The 2 13 moneys in the fund are not subject to section 8.33 and shall 2 14 not be transferred, used, obligated, appropriated, or otherwise 2 15 encumbered except as provided in this section. Notwithstanding 2 16 section 12C.7, subsection 2, interest or earnings on moneys 2 17 deposited in the critical needs road fund shall be credited to 2 18 the fund. 2 19 2. Moneys in the critical needs road fund are appropriated 2 20 to the department of transportation to be used as directed 2 21 by the department exclusively for the repair and maintenance 2 22 of roads on the primary or secondary road system, or the 2 23 municipal street system, including bridges. The department 2 24 shall establish guidelines for identifying roads and bridges 2 25 in critical need of repair or maintenance and for prioritizing 2 26 projects to receive funding under this section. Moneys 2 27 distributed from the critical needs road fund may be used 2 28 in combination with other available funding as necessary to 2 29 accomplish the completion of a qualifying project and to 2 30 accomplish the goal of reducing the number of Iowa roads and 2 31 bridges with critical needs. 2 32 EXPLANATION 2 33 This bill establishes a critical needs road fund in the state 2 34 treasury under the control of the department of transportation. 2 35 Moneys in the fund are appropriated to the department to be 3 1 used exclusively for repair and maintenance of state and 3 2 local roads. The department is authorized to direct the 3 3 use of the fund's resources according to guidelines to be 3 4 established by the department for identifying roads and bridges 3 5 in critical need of repair or maintenance and for prioritizing 3 6 critical needs projects. Moneys from the fund may be used in 3 7 combination with other available funding. 3 8 The bill provides that if the economic emergency fund 3 9 reaches the maximum balance, after the required transfer of a 3 10 portion of the excess to the taxpayers trust fund and before 3 11 any remaining excess is transferred to the general fund of the 3 12 state, any excess moneys in an amount up to $60 million shall 3 13 be transferred to the critical needs road fund. LSB 5785YH (3) 84 dea/nh
Text: HF2345            Text: HF2347 Complete Bill History