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Senate Amendment 3116

Amendment Text

PAG LIN
  1  1    Amend Senate File 160 as follows:
  1  2    #1.  Page 1, by inserting before line 1 the
  1  3 following:
  1  4    "Section 1.  Section 16.107, Code 1995, is amended
  1  5 to read as follows:
  1  6    16.107  INFRASTRUCTURE LOAN PROGRAM.
  1  7    The authority may issue its bonds or notes for the
  1  8 purpose of pooling obligations of two one or more
  1  9 cities, counties, or sanitary districts for the
  1 10 purpose of financing infrastructure, or other special
  1 11 districts authorized to provide for infrastructure and
  1 12 improvements, including housing, as defined by
  1 13 sections 15.284 and 15.285.  Sections 16.103 through
  1 14 16.106 shall apply with respect to the issuance of
  1 15 these bonds or notes or the disposition of proceeds of
  1 16 these bonds or notes.  All bonds or notes issued by
  1 17 the authority pursuant to this section are exempt from
  1 18 taxation by this state and the interest on the bonds
  1 19 or notes is exempt from state income tax."
  1 20    #2.  Page 1, by inserting after line 24 the
  1 21 following:
  1 22    "5.  The exemption of bonds and notes from Iowa
  1 23 income tax would be advantageous to the availability
  1 24 of capital for housing."
  1 25    #3.  Page 9, by inserting after line 7 the
  1 26 following:
  1 27    "Sec.    .  Section 1 of this Act takes effect July
  1 28 1, 1995, and applies to interest income received from
  1 29 bonds and notes issued under section 16.107 on or
  1 30 after July 1, 1995."
  1 31    #4.  By renumbering as necessary.  
  1 32 
  1 33 
  1 34                              
  1 35 MERLIN E. BARTZ
  1 36 
  1 37 
  1 38                              
  1 39 SF 160.705 76
  1 40 mk/sc
     
Text: S03115                            Text: S03117
Text: S03100 - S03199                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index
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