Text: SF00487 Text: SF00489 Text: SF00400 - SF00499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. NEW SECTION. 161A.80 BLUFFLANDS PROTECTION 1 2 PROGRAM – REVOLVING FUND. 1 3 1. As used in this section, unless the context otherwise 1 4 requires: 1 5 a. "Bluffland" means a cliff, headland, or hill with a 1 6 broad steep face along the channel or floodplain of a river 1 7 and its tributaries. 1 8 b. "Conservation organization" means a nonprofit 1 9 corporation incorporated in Iowa or an entity organized and 1 10 operated primarily to enhance and protect natural resources in 1 11 this state. 1 12 2. A blufflands protection revolving fund is created in 1 13 the state treasury. The proceeds of the revolving fund are 1 14 appropriated to make loans to conservation organizations which 1 15 agree to purchase conservation easements on blufflands in this 1 16 state or to purchase blufflands in this state for resale with 1 17 restrictive covenants attached to the property. The 1 18 administrative director of the division of soil conservation 1 19 shall administer the revolving fund. Notwithstanding section 1 20 12C.7, interest or earnings on investments made pursuant to 1 21 this section or as provided in section 12B.10 shall be 1 22 credited to the blufflands protection revolving fund. 1 23 Notwithstanding section 8.33, unobligated or unencumbered 1 24 funds credited to the blufflands protection revolving fund 1 25 shall not revert at the close of a fiscal year. However, the 1 26 maximum balance in the blufflands protection fund shall not 1 27 exceed two million five hundred thousand dollars. Any funds 1 28 in excess of two million five hundred thousand dollars shall 1 29 be credited to the general fund of the state. 1 30 3. The administrative director of the division shall 1 31 establish a blufflands protection program to demonstrate 1 32 creative land protection techniques and encourage private 1 33 landowners to protect the natural beauty of the blufflands in 1 34 this state. The commissioners of each soil and water 1 35 conservation district which includes blufflands shall 2 1 cooperate with and assist the director in administering the 2 2 blufflands protection program within their respective 2 3 districts. The director shall provide, by rule, for a uniform 2 4 application form, the content of the form, provisions for a 2 5 loan agreement model conservation easement and restrictive 2 6 covenant requirements for blufflands, and minimum 2 7 qualifications of conservation organizations which are 2 8 eligible to participate in the blufflands protection program. 2 9 The administrative director shall specify the eligible 2 10 purposes for which a loan authorized under this section can be 2 11 expended including, but not limited to, the purchase of 2 12 blufflands, the acquisition of conservation easements on 2 13 blufflands, the establishment of landowner associations, 2 14 payment for loss of land value due to restrictive covenants, 2 15 and payment for legal costs. The payment of administrative 2 16 costs is not an eligible purpose. 2 17 4. An applicant for a loan from the blufflands protection 2 18 revolving fund shall apply to the soil and water conservation 2 19 district of the county in which the bluffland is located. The 2 20 application shall be on forms prepared by the division and 2 21 shall include the information required by rule of the 2 22 division. Each conservation organization which applies for a 2 23 loan under this section shall demonstrate its financial 2 24 capability to qualify for a loan to the commissioners and its 2 25 commitment to natural resource protection and appropriate 2 26 development. The application shall be reviewed and 2 27 feasibility of the proposed project shall be investigated by 2 28 the commissioners of the district and its report and 2 29 recommendation shall be sent to the administrative director 2 30 and the committee for approval. 2 31 5. Except as otherwise provided in this subsection, each 2 32 loan made under this section shall be for a period not to 2 33 exceed five years, shall bear no interest for the first year, 2 34 and shall be repayable to the blufflands protection revolving 2 35 fund. After the first year and for each subsequent year that 3 1 the principal remains unpaid, interest shall be charged 3 2 against any unpaid balance of the loan. The interest rate 3 3 shall be set at the prevailing market rate for similar real 3 4 estate in the county as determined by the director. All 3 5 interest payments shall be credited to the blufflands 3 6 protection revolving fund. Each loan shall be repaid as 3 7 provided in the loan agreement. However, interest on the 3 8 principal of a loan shall be due and payable thirty days after 3 9 the conclusion of the second year and each subsequent year 3 10 that the principal or a part of the principal remains unpaid. 3 11 A loan may be extended annually beyond the original five years 3 12 with the approval of the district commissioners and the 3 13 administrative director. 3 14 6. The administrative director may: 3 15 a. Contract, sue and be sued, and adopt administrative 3 16 rules pursuant to chapter 17A and approved by the committee, 3 17 necessary to carry out this section, but the administrative 3 18 director, the committee, or the district commissioners shall 3 19 not directly or indirectly pledge the credit of the state of 3 20 Iowa. 3 21 b. Authorize payment from the blufflands protection 3 22 revolving fund from moneys received under section 99F.11, 3 23 subsection 4, and from any income received by investments of 3 24 any money in the fund for costs, commissions, attorney fees, 3 25 and other reasonable expenses related to and necessary for the 3 26 making and protecting of direct loans under this section, and 3 27 for recovery of moneys loaned or the management of property 3 28 acquired in connection with the loans. 3 29 7. This section is repealed on July 1, 2017. 3 30 Sec. 2. Section 99F.11, subsection 4, Code 1997, is 3 31 amended to read as follows: 3 32 4. The remaining amount of the adjusted gross receipts tax 3 33 shall be credited to the general fund of the state. However, 3 34 of the remaining amount of adjusted gross receipts tax 3 35 available under this subsection, and notwithstanding 4 1 provisions to the contrary in section 8.57, for the fiscal 4 2 period beginning July 1, 1997, and ending June 30, 2017, the 4 3 first one million dollars collected each fiscal year shall be 4 4 credited to the blufflands protection revolving fund. 4 5 Sec. 3. OUTSTANDING BLUFFLANDS PROTECTION LOANS. The 4 6 principal and interest from any blufflands protection loans 4 7 outstanding on July 1, 2017, and payable to the blufflands 4 8 protection revolving fund, shall be paid to the administrative 4 9 director of the division of soil conservation on or after July 4 10 1, 2017, pursuant to the terms of the loan agreement and shall 4 11 be credited to the general fund of the state. 4 12 EXPLANATION 4 13 This bill creates a blufflands protection revolving fund in 4 14 the state treasury to be used to make loans to nonprofit 4 15 conservation organizations which are interested in preserving 4 16 blufflands in this state. The administrative director of the 4 17 division of soil conservation of the department of agriculture 4 18 and land stewardship is directed to establish a blufflands 4 19 protection program to be administered by the director and the 4 20 commissioners of the soil and water conservation districts. 4 21 The program will offer loans to conservation organizations 4 22 which wish to purchase blufflands for the purpose of 4 23 development and resale with appropriate restrictive convenants 4 24 or the purchase of conservation easements. 4 25 The loans are without interest for the first year and at 4 26 the prevailing interest rate for similar real estate for each 4 27 year thereafter. The loans are to be repaid in five years, 4 28 but annual extensions are authorized. Repayment plans are 4 29 subject to contractual agreements, but annual interest 4 30 payments are required at a minimum after the second year of a 4 31 loan. All principal and interest payments or earnings are to 4 32 be credited to the revolving fund. 4 33 The loan program is funded by crediting $1 million each 4 34 year from the remaining amount of the adjusted gross receipts 4 35 tax from excursion boat gambling operations which would 5 1 otherwise be credited to the state general fund or the 5 2 infrastructure fund. The maximum balance in the blufflands 5 3 protection revolving fund is set at $2.5 million. 5 4 The blufflands protection program is repealed as of July 1, 5 5 2017. 5 6 LSB 1164SV 77 5 7 tj/sc/14
Text: SF00487 Text: SF00489 Text: SF00400 - SF00499 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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