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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