Text: SSB02169 Text: SSB02171 Text: SSB02100 - SSB02199 Text: SSB 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 members on the board of directors who
1 9 are employed by the authority or serve on the board of
1 10 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
1 19 locations, types and amounts of assistance provided, and
1 20 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.
1 28 NEW SUBSECTION. 20. Require any nonprofit corporation
1 29 created by or in association with the authority since January
1 30 1, 1989, to adopt a written conflict of interests policy. The
1 31 policy shall include, but not be limited to, a prohibition
1 32 against a board member or employee of the corporation having a
1 33 financial interest in any project of the corporation.
1 34 Sec. 2. AUDIT. By January 15, 1999, the auditor of state
1 35 shall conduct an audit, and review any previously completed
2 1 audit, of any nonprofit corporation in existence which has
2 2 been incorporated since January 1, 1989, by or in association
2 3 with the Iowa finance authority, for the entire time period
2 4 since the corporation was incorporated. The auditor shall
2 5 make or cause to be made a written report consistent with and
2 6 similar to the type of report required under section 11.4.
2 7 The auditor of state may conduct similar additional audits of
2 8 the same nonprofit corporation as the auditor deems necessary
2 9 and the nonprofit corporation shall pay a fee for such
2 10 additional audits.
2 11 Sec. 3. HOUSING CORPORATION BOARD. The board of directors
2 12 of the Iowa housing corporation shall consist of nine voting
2 13 members serving staggered three-year terms. Two members shall
2 14 be representatives of nonprofit housing organizations with one
2 15 member appointed by the governor, subject to confirmation by
2 16 the senate, and one member named by the Iowa coalition for
2 17 housing and the homeless. The Iowa association of realtors,
2 18 the home builders association of Iowa, and the Iowa mortgage
2 19 bankers association shall all appoint one member to the board.
2 20 The governor shall appoint the remaining four board members
2 21 subject to confirmation by the senate. The terms of three
2 22 board members shall expire each year. Board members serving
2 23 on the effective date of this Act shall complete their current
2 24 terms and shall have their positions on the board filled by
2 25 the members who are to be appointed by the governor. Board
2 26 members filling the four new positions on the board which are
2 27 appointed by the private associations may serve less than a
2 28 three-year term during the initial term in order to properly
2 29 stagger the terms.
2 30 Sec. 4. EFFECTIVE DATE. This Act, being deemed of
2 31 immediate importance, takes effect upon enactment.
2 32 EXPLANATION
2 33 This bill requires any nonprofit corporation created by or
2 34 in association with the Iowa finance authority since January
2 35 1, 1989, to include two representatives of nonprofit housing
3 1 organizations as voting members on the board of directors of
3 2 any such corporation. The bill requires such corporations to
3 3 file a report annually with the chairpersons and ranking
3 4 members of the appropriate appropriations subcommittees, which
3 5 includes an annual report, information related to projects,
3 6 information related to the assets of the corporation,
3 7 information on financial assistance provided to the
3 8 corporation by outside sources, and a list of corporation
3 9 employees and board members. The bill requires the nonprofit
3 10 corporation to adopt a written conflict of interests policy
3 11 which shall include a prohibition against a board member or
3 12 employee of the corporation having a financial interest in any
3 13 project of the corporation.
3 14 The bill requires the auditor of state, January 1, 1999, to
3 15 conduct an audit of any nonprofit corporation in existence
3 16 which has been incorporated since January 1, 1989, by or in
3 17 association with the Iowa finance authority for the entire
3 18 time period since the corporation was incorporated. The bill
3 19 allows the auditor of state to conduct similar audits of the
3 20 same nonprofit corporation as the auditor deems necessary and
3 21 the nonprofit corporation shall pay a fee for such additional
3 22 audits.
3 23 The bill provides for an immediate effective date.
3 24 LSB 4343SC 77
3 25 tm/sc/14
Text: SSB02169 Text: SSB02171 Text: SSB02100 - SSB02199 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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