House Study Bill 64

                                       SENATE/HOUSE FILE       
                                       BY  (PROPOSED DEPARTMENT OF
                                            ECONOMIC DEVELOPMENT BILL)


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to community development block grants to the
  2    department of economic development and including effective and
  3    retroactive applicability dates.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1648DP 80
  6 tm/cl/14

PAG LIN

  1  1    Section 1.  2002 Iowa Acts, chapter 1170, section 10, is
  1  2 amended by adding the following new subsection:
  1  3    NEW SUBSECTION.  3.  Notwithstanding section 17 of this
  1  4 Act, relating to the procedure for proration of federal funds
  1  5 received in excess of the amount appropriated in this section,
  1  6 the department may expend up to two percent of eligible
  1  7 program income received for the purposes of administration.
  1  8    Sec. 2.  EFFECTIVE AND RETROACTIVE APPLICABILITY DATE
  1  9 PROVISIONS.  This Act, being deemed of immediate importance,
  1 10 takes effect upon enactment and is retroactively applicable to
  1 11 July 1, 2002.
  1 12                           EXPLANATION
  1 13    This bill relates to funds received from the federal
  1 14 government in the form of community development block grants
  1 15 that exceed the amount appropriated to the department of
  1 16 economic development for the federal fiscal year beginning
  1 17 October 1, 2002.
  1 18    The bill allows the department to expend up to 2 percent of
  1 19 eligible program income received for purposes of
  1 20 administration.
  1 21    The bill takes effect upon enactment and is retroactively
  1 22 applicable to July 1, 2002.
  1 23 LSB 1648DP 80
  1 24 tm/cl/14
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