Text: SSB02203 Text: SSB02205 Text: SSB02200 - SSB02299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 11.40 AUDIT.
1 2 The auditor of state shall annually review the completed
1 3 annual audit of any nonprofit corporation created by or in
1 4 association with the Iowa finance authority. By January 15,
1 5 1999, the auditor of state shall review all prior annual
1 6 audits of any such corporation and make a written report
1 7 similar to the type of report required by section 11.4. The
1 8 auditor shall collect the usual fee paid to the auditor by
1 9 similar entities.
1 10 Sec. 2. Section 16.5, Code Supplement 1997, is amended by
1 11 adding the following new subsections:
1 12 NEW SUBSECTION. 18. Require any nonprofit corporation
1 13 created by or in association with the authority since January
1 14 1, 1989, to include one representative of a nonprofit housing
1 15 organization as a voting member on the board of directors of
1 16 any such corporation. Any such nonprofit corporation shall
1 17 not have more than two members on the board of directors who
1 18 are employed by the authority or serve on the board of
1 19 directors of the authority.
1 20 NEW SUBSECTION. 19. Require any nonprofit corporation
1 21 created by or in association with the authority since January
1 22 1, 1989, to file a detailed report by January 15 of each year
1 23 with the chairpersons and ranking members of the appropriate
1 24 appropriations subcommittees of the general assembly which
1 25 shall include, at a minimum, all of the following:
1 26 a. An annual report of the corporation.
1 27 b. An itemized list of projects assisted, project
1 28 locations, types and amounts of assistance provided, and
1 29 contact persons for each project.
1 30 c. A copy of the annual audit of the corporation.
1 31 d. An itemized list of types and amounts of financial
1 32 assistance provided to the corporation by outside sources.
1 33 e. A list, by position, of all corporate employees and
1 34 board members.
1 35 NEW SUBSECTION. 20. Require any nonprofit corporation
2 1 created by or in association with the authority since January
2 2 1, 1989, to adopt a written conflict of interests policy.
2 3 Sec. 3. NEW SECTION. 16.191 HOUSING CORPORATION BOARD.
2 4 The board of directors of the Iowa housing corporation
2 5 shall consist of five voting members serving staggered, three-
2 6 year terms. The governor shall appoint, subject to
2 7 confirmation by the senate, one member from a nonprofit
2 8 housing organization, one member from the Iowa finance
2 9 authority board of directors, one member from the Iowa
2 10 association of realtors, one member from the homebuilders
2 11 association of Iowa, and one member from the Iowa bankers
2 12 association. The initial appointments by the governor shall
2 13 be made so that the representative of the nonprofit housing
2 14 organization shall be appointed by July 1, 1998, or as soon
2 15 thereafter as possible, the representatives of the Iowa
2 16 finance authority and the Iowa association of realtors shall
2 17 be appointed for terms commencing May 1, 1999, and the
2 18 representatives of the homebuilders association of Iowa and
2 19 the Iowa bankers association shall be appointed for terms
2 20 commencing May 1, 2000. After the initial appointments, all
2 21 succeeding appointees shall serve staggered terms beginning
2 22 and ending as provided in chapter 69.
2 23 Sec. 4. EFFECTIVE DATE. Sections 1 and 2, being deemed of
2 24 immediate importance, take effect upon enactment.
2 25 EXPLANATION
2 26 This bill requires any nonprofit corporation created by or
2 27 in association with the Iowa finance authority since January
2 28 1, 1989, to include one representative of a nonprofit housing
2 29 organization as a voting member on the board of directors of
2 30 any such corporation. The bill requires such corporations to
2 31 file a report annually with the chairpersons and ranking
2 32 members of the appropriate appropriations subcommittees, which
2 33 includes an annual report, information related to projects, a
2 34 copy of the annual audit of the corporation, information on
2 35 financial assistance provided to the corporation by outside
3 1 sources, and a list of corporation employees and board
3 2 members. The bill requires the nonprofit corporation to adopt
3 3 a written conflict of interests policy.
3 4 The bill provides that the auditor of state shall annually
3 5 review the completed annual audit of any nonprofit corporation
3 6 created by or in association with the Iowa finance authority.
3 7 By January 15, 1999, the auditor of state shall review all
3 8 prior annual audits of any such corporation and make a written
3 9 audit report based on the review.
3 10 The bill provides that the Iowa housing corporation board
3 11 of directors shall consist of five voting members serving
3 12 staggered, three-year terms. The governor shall appoint,
3 13 subject to confirmation by the senate, one member from a
3 14 nonprofit housing organization, one member from the Iowa
3 15 finance authority board of directors, one member from the Iowa
3 16 association of realtors, one member from the homebuilders
3 17 association of Iowa, and one member from the Iowa bankers
3 18 association. The bill provides a method for staggering the
3 19 initial terms of the governor's appointees.
3 20 The bill provides for an immediate effective date for
3 21 provisions of the bill relating to the Iowa finance authority
3 22 and audits.
3 23 LSB 4367SC 77
3 24 tm/sc/14
Text: SSB02203 Text: SSB02205 Text: SSB02200 - SSB02299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Feb 26 03:45:51 CST 1998
URL: /DOCS/GA/77GA/Legislation/SSB/02200/SSB02204/980225.html
jhf