Text: HF02443 Text: HF02445 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 16.5, Code Supplement 1997, is amended
1 2 by adding the following new subsections:
1 3 NEW SUBSECTION. 18. Require any nonprofit corporation
1 4 created by or in association with the authority since January
1 5 1, 1989, to include two representatives of nonprofit housing
1 6 organizations as voting members on the board of directors of
1 7 any such corporation. Any such nonprofit corporation shall
1 8 not have more than two nonvoting ex-officio members on the
1 9 board of directors who are employed by the authority or serve
1 10 on the board of directors of the authority.
1 11 NEW SUBSECTION. 19. Require any nonprofit corporation
1 12 created by or in association with the authority since January
1 13 1, 1989, to file a detailed report by January 15 of each year
1 14 with the chairpersons and ranking members of the appropriate
1 15 appropriations subcommittees of the general assembly which
1 16 shall include, at a minimum, all of the following:
1 17 a. An annual report of the corporation.
1 18 b. An itemized list of projects assisted, project fees
1 19 received, project locations, types and amounts of assistance
1 20 provided, and contact persons for each project.
1 21 c. A list of fixed assets of the corporation, including
1 22 the date the fixed assets were acquired and the cost of the
1 23 fixed assets.
1 24 d. An itemized list of types and amounts of financial
1 25 assistance provided to the corporation by outside sources.
1 26 e. A list, by position, of all corporate employees and
1 27 board members. The information submitted pursuant to this
1 28 paragraph shall include the compensation received, including
1 29 salary and benefits, received by each employee and board
1 30 member.
1 31 NEW SUBSECTION. 20. Require any nonprofit corporation
1 32 created by or in association with the authority since January
1 33 1, 1989, to adopt a written conflict of interests policy. The
1 34 policy shall include, but not be limited to, a prohibition
1 35 against a board member or employee of the corporation having a
2 1 financial interest in any project of the corporation.
2 2 Sec. 2. AUDIT. By January 15, 1999, the auditor of state
2 3 shall conduct an audit, or review any previously completed
2 4 audit, of any nonprofit corporation in existence which has
2 5 been incorporated since January 1, 1989, by or in association
2 6 with the Iowa finance authority, for the entire time period
2 7 since the corporation was incorporated. The auditor shall
2 8 make or cause to be made a written report consistent with and
2 9 similar to the type of report required under section 11.4.
2 10 The auditor of state may conduct similar additional audits of
2 11 the same nonprofit corporation as the auditor deems necessary
2 12 and the nonprofit corporation shall pay a fee for all audits
2 13 conducted.
2 14 Sec. 3. HOUSING CORPORATION BOARD. The board of directors
2 15 of the Iowa housing corporation shall consist of nine voting
2 16 members serving staggered three-year terms. Two members shall
2 17 be representatives of nonprofit housing organizations with one
2 18 member appointed by the governor, subject to confirmation by
2 19 the senate, and one member named by the Iowa coalition for
2 20 housing and the homeless. The Iowa association of realtors,
2 21 the home builders association of Iowa, and the Iowa mortgage
2 22 bankers association shall all appoint one member to the board.
2 23 The governor shall appoint the remaining four board members
2 24 subject to confirmation by the senate. The terms of three
2 25 board members shall expire each year. Board members serving
2 26 on the effective date of this Act shall complete their current
2 27 terms and shall have their positions on the board filled by
2 28 the members who are to be appointed by the governor. Board
2 29 members filling the four new positions on the board which are
2 30 appointed by the private associations may serve less than a
2 31 three-year term during the initial term in order to properly
2 32 stagger the terms. All appointments to the board of directors
2 33 made by the governor shall conform to the requirements of
2 34 sections 69.15, 69.16, 69.16A, 69.17, 69.18, and 69.19.
2 35 Sec. 4. EFFECTIVE DATE. This Act, being deemed of
3 1 immediate importance, takes effect upon enactment.
3 2 HF 2444
3 3 tm/pk/25
Text: HF02443 Text: HF02445 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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