Text: H09116                            Text: H09118
Text: H09100 - H09199                   Text: H Index
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House Amendment 9117

Amendment Text

PAG LIN
  1  1    Amend the House amendment, S-5474, to Senate File
  1  2 2052, as amended, passed, and reprinted by the Senate,
  1  3 as follows:
  1  4    #1.  By striking page 1, line 7, through page 2,
  1  5 line 41, and inserting the following:
  1  6    "7C.4A  ALLOCATION OF STATE CEILING.
  1  7    For each calendar year, the state ceiling shall be
  1  8 allocated among bonds issued for various purposes as
  1  9 follows:
  1 10    1.  Thirty percent of the state ceiling shall be
  1 11 allocated solely to the Iowa finance authority for the
  1 12 following purposes:
  1 13    a.  Issuing qualified mortgage bonds.
  1 14    b.  Reallocating the amount, or any portion
  1 15 thereof, to another qualified political subdivision
  1 16 for the purpose of issuing qualified mortgage bonds;
  1 17 or
  1 18    c.  Exchanging the allocation, or any portion
  1 19 thereof, for the authority to issue mortgage credit
  1 20 certificates by election under section 25(c) of the
  1 21 Internal Revenue Code.
  1 22    However, at any time during the calendar year the
  1 23 executive director of the Iowa finance authority may
  1 24 determine that a lesser amount need be allocated to
  1 25 the Iowa finance authority and on that date this
  1 26 lesser amount shall be the amount allocated to the
  1 27 authority and the excess shall be allocated under
  1 28 subsection 6 7.
  1 29    2.  Twelve percent of the state ceiling shall be
  1 30 allocated to bonds issued to carry out programs
  1 31 established under chapters 260C, 260E, and 260F.
  1 32 However, at any time during the calendar year the
  1 33 director of the Iowa department of economic
  1 34 development may determine that a lesser amount need be
  1 35 allocated and on that date this lesser amount shall be
  1 36 the amount allocated for those programs and the excess
  1 37 shall be allocated under subsection 6 7.
  1 38    3.  Sixteen percent of the state ceiling shall be
  1 39 allocated to qualified student loan bonds.  However,
  1 40 at any time during the calendar year the governor's
  1 41 designee, with the approval of the Iowa student loan
  1 42 liquidity corporation, may determine that a lesser
  1 43 amount need be allocated to qualified student loan
  1 44 bonds and on that date the lesser amount shall be the
  1 45 amount allocated for those bonds and the excess shall
  1 46 be allocated under subsection 6 7.
  1 47    4.  Sixteen Twenty-one percent of the state ceiling
  1 48 shall be allocated to qualified small issue bonds
  1 49 issued for first-time farmers.  However, at any time
  1 50 during the calendar year the governor's designee, with
  2  1 the approval of the Iowa agricultural development
  2  2 authority, may determine that a lesser amount need be
  2  3 allocated to qualified small issue bonds for first-
  2  4 time farmers and on that date this lesser amount shall
  2  5 be the amount allocated for those bonds and the excess
  2  6 shall be allocated under subsection 6 7.
  2  7    5.  Eighteen percent of the state ceiling shall be
  2  8 allocated to bonds issued by political subdivisions to
  2  9 finance a qualified industry or industries for the
  2 10 manufacturing, processing, or assembly of agricultural
  2 11 or manufactured products even though the processed
  2 12 products may require further treatment before delivery
  2 13 to the ultimate consumer.
  2 14    5 6.  During the period of January 1 through
  2 15 October 25 June 30, five three percent of the state
  2 16 ceiling shall be reserved for private activity bonds
  2 17 issued by political subdivisions, the proceeds of
  2 18 which are used by the issuing political subdivisions.
  2 19    6 7.  a.  The amount of the state ceiling which is
  2 20 not otherwise allocated under subsections 1 through 4
  2 21 5, and after October 25 June 30, the amount of the
  2 22 state ceiling reserved under subsection 5 6 and not
  2 23 allocated, shall be allocated to all bonds requiring
  2 24 an allocation under section 146 of the Internal
  2 25 Revenue Code without priority for any type of bond
  2 26 over another, except as otherwise provided in sections
  2 27 7C.5 and 7C.11.
  2 28    b.  The population of the state shall be determined
  2 29 in accordance with the Internal Revenue Code."
  2 30    #2.  Page 2, lines 45 and 46, by striking the words
  2 31 and figures "subsections subsection 1 through 4" and
  2 32 inserting the following:  "subsections 1 through 4 5".
  2 33    #3.  Page 3, line 7, by striking the figure "2" and
  2 34 inserting the following:  "6".
  2 35    #4.  Page 3, line 11, by striking the figure "3"
  2 36 and inserting the following:  "7".
  2 37    #5.  Page 3, lines 17 and 18, by striking the words
  2 38 and figures "subsections subsection 1 through 4" and
  2 39 inserting the following:  "subsections 1 through 4 5".  
  2 40 SF 2052S
  2 41 mg/cc/26

Text: H09116                            Text: H09118
Text: H09100 - H09199                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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