SF 2307 (LSB 5480SV (1) 88)

SENATE FILE 2307

BY  COMMITTEE ON VETERANS AFFAIRS

(SUCCESSOR TO SSB 3168)

A BILL FOR

An Act relating to the home ownership assistance program, and making an appropriation.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 35A.13, subsection 4, paragraph a, Code 2020, is amended to read as follows:
   a.  The minimum balance of the trust fund required prior to expenditure of moneys from the trust fund is five million dollars. Once the minimum balance is reached, the interest and earnings on the fund and the first five hundred thousand dollars transferred each fiscal year pursuant to section 99G.39 from the lottery fund to the trust fund are appropriated to the commission to be used to achieve the purposes of subsection 6 of this section. Moneys appropriated to the commission that remain unobligated or unexpended at the end of each fiscal year shall not revert to the trust fund but shall be appropriated to the Iowa finance authority to be used to provide grants to veterans to participate in the home ownership assistance program established under section 16.54 until the close of the succeeding fiscal year. It is the intent of the general assembly that the balance in the trust fund reach fifty million dollars.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill provides that moneys appropriated to the veterans affairs commission from the veterans trust fund in a fiscal year that remain unobligated or unexpended at the close of the fiscal year shall not revert to the trust fund but shall be appropriated to the Iowa finance authority to provide grants to veterans to participate in the home ownership assistance program established under Code section 16.54.