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House Journal: Page 567: Wednesday, March 6, 1996

 6   interest or earnings on moneys deposited in the Iowa
 7   economic emergency fund shall be credited to the
 8   rebuild Iowa vertical infrastructure fund.
 9     Sec. ___.  Section 8.56, subsection 1, Code
10   Supplement 1995, is amended to read as follows:
11     1.  A cash reserve fund is created in the state
12   treasury.  The cash reserve fund shall be separate
13   from the general fund of the state and shall not be
14   considered part of the general fund of the state
15   except in determining the cash position of the state
16   as provided in subsection 3.  The moneys in the cash
17   reserve fund are not subject to section 8.33 and shall
18   not be transferred, used, obligated, appropriated, or
19   otherwise encumbered except as provided in this
20   section.  Notwithstanding section 12C.7, subsection 2,
21   interest or earnings on moneys deposited in the cash
22   reserve fund shall be credited to the rebuild Iowa
23   vertical infrastructure fund created in section 8.57.
24   Moneys in the cash reserve fund may be used for cash
25   flow purposes provided that any moneys so allocated
26   are returned to the cash reserve fund by the end of
27   each fiscal year.  However, the fund shall be
28   considered a special account for the purposes of
29   section 8.53.
30     Sec. ___.  Section 8.57, subsection 5, paragraphs a
31   and c, Code Supplement 1995, are amended to read as
32   follows:
33     a.  A rebuild An Iowa vertical infrastructure
fund
34   is created under the authority of the department of
35   management.  The fund shall consist of appropriations
36   made to the fund and transfers of interest, earnings,
37   and moneys from other funds as provided by law.  The
38   fund shall be separate from the general fund of the
39   state and the balance in the fund shall not be
40   considered part of the balance of the general fund of
41   the state.  However, the fund shall be considered a
42   special account for the purposes of section 8.53,
43   relating to generally accepted accounting principles.
44     c.  Moneys in the fund in a fiscal year shall be
45   used as directed by the general assembly for public
46   vertical infrastructure-related expenditures.
47     Sec. ___.  Section 8.58, Code Supplement 1995, is
48   amended to read as follows:
49     8.58  EXEMPTION FROM AUTOMATIC APPLICATION.
50     To the extent that moneys appropriated under

Page   3

 1   section 8.57 do not result in moneys being credited to
 2   the general fund under section 8.55, subsection 2,
 3   moneys appropriated under section 8.57 and moneys
 4   contained in the cash reserve fund, rebuild Iowa
 5   vertical infrastructure fund, and Iowa economic

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

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Last update: Thu Mar 7 13:25:03 CST 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/00500/00567.html
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