SSB 1259 (LSB 2820XC (1) 88)

SENATE FILE _____ 

BY  (PROPOSED COMMITTEE ON WAYS AND MEANS BILL BY CHAIRPERSON FEENSTRA)

A BILL FOR

An Act relating to the home and community-based services revolving loan program fund and the transitional housing revolving loan program fund, and the transfer of moneys and the deposit of outstanding loan repayments to the manufactured housing program fund.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 16.45, subsection 2, paragraph b, Code 2019, is amended to read as follows:
   b.  Notwithstanding any provision of section 16.46, 16.47, 16.48, or 16.49 to the contrary, the authority shall be authorized to transfer for deposit in the manufactured housing program fund for any fiscal year any unobligated and unencumbered moneys in the funds created in sections 16.46, 16.47, 16.48, and 16.49 from the prior fiscal year. However, the maximum amount of moneys that may be so transferred for any fiscal year shall not exceed the lesser of one million dollars or an amount equal to the total amount of any unobligated and unencumbered moneys in the funds available for transfer from the previous fiscal year reduced by one million dollars.
    Sec. 2.  REPEAL.  Sections 16.47 and 16.48, Code 2019, are repealed.
    Sec. 3.  MONEYS TRANSFERRED FOR DEPOSIT TO, AND OUTSTANDING LOAN REPAYMENTS DEPOSITED IN, THE MANUFACTURED HOUSING PROGRAM FUND.
   1.  Any moneys in the home and community-based services revolving loan program fund pursuant to section 16.47, and any moneys in the transitional housing revolving loan program fund pursuant to section 16.48, shall be transferred for deposit to the manufactured housing program fund created in section 16.45. 
   2.  Any outstanding loan repayments due to the home and community-based services revolving loan program fund pursuant to section 16.47, and any outstanding loan repayments due to the transitional housing revolving loan program fund pursuant to section 16.48, shall be deposited in the manufactured housing program fund created in section 16.45. 
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill repeals Code section 16.47, the home and community-based services revolving loan program fund, and Code section 16.48, the transitional housing revolving loan program fund. The home and community-based services revolving loan program fund is used by the economic development authority to administer a revolving loan program to develop and expand facilities and infrastructure that provide adult day services, respite services, congregate meals, and programming space for health and wellness, health screening, and nutritional assessments to address the needs of persons with low incomes. The transitional housing revolving loan program fund is used by the authority for a revolving loan program to provide financing to construct affordable transitional housing, including through new construction or acquisition and rehabilitation of existing housing, located in close proximity to licensed substance abuse treatment programs. 
   The bill provides that any moneys in either of these funds shall be transferred for deposit to the manufactured housing program fund created in Code section 16.45. The manufactured housing program fund is used by the authority for the purpose of providing funding to financial institutions or other lenders to finance purchases by individuals of manufactured homes that are sited on leased land. 
   The bill also provides that any outstanding loan repayments due to either the home and community-based services revolving loan program fund or the transitional housing revolving loan program fund shall be deposited in the manufactured housing program fund.