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House Journal: Page 889: Thursday, March 27, 1997

Wise of Lee asked and received unanimous consent that amendment
H-1438 be deferred.
Warnstadt of Woodbury asked and received unanimous consent that
amendment H-1404 be deferred.
Metcalf of Polk offered amendment H-1436 filed by her as follows:

H-1436

 1     Amend House File 613 as follows:
 2     1.  By striking page 1, line 1, through page 5,
 3   line 18, and inserting the following:
 4     "Sec. ___.  Section 12.32, subsection 1, Code 1997,
 5   is amended to read as follows:
 6     1.  "Eligible borrower" means any person who is in
 7   the business or is entering the business of producing,
 8   processing, or marketing horticultural crops or
 9   nontraditional crops in this state or any person in
10   this state who is qualified to participate in one of
11   the programs in this division.  "Eligible borrower"
12   does not include a person who has been determined to
13   be delinquent in making child support payments or any
14   other payments due the state.
15     Sec. ___.  Section 12.32, subsection 3, Code 1997,
16   is amended to read as follows:
17     3.  "Linked investment" means a certificate of
18   deposit placed pursuant to this division by the
19   treasurer of state with an eligible lending
20   institution, at an interest rate not more than three
21   percent below current market rates rate on the
22   condition that the institution agrees to lend the
23   value of the deposit, according to the investment
24   agreement provided in section 12.35, to an eligible
25   borrower at a rate not to exceed four percent above
26   the rate paid on the certificate of deposit.  The
27   treasurer of state shall determine and make available
28   the current market rate which shall be used each
29   month.
30     Sec. ___.  Section 12.33, Code 1997, is amended to
31   read as follows:
32     12.33  LEGISLATIVE FINDINGS AND INTENT _ PURPOSE
33   PUBLIC POLICY.
34     1.  The general assembly finds the following:
35     a.  That many horticultural operations throughout
36   the state are experiencing economic stagnation or
37   decline.
38     b.  That high interest rates have caused
39   potentially viable operations to cease or not expand
40   in the area of horticultural or nontraditional crop
41   production, processing, or marketing.
42     2.  The It is the public policy of this state that
43   a linked investments for tomorrow program provided
for

Iowa General Assembly

Index: House Journal (77th General Assembly: Session 1)

© 1997 Cornell College and League of Women Voters of Iowa

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Last update: Mon Mar 31 13:40:03 CST 1997
URL: /DOCS/GA/77GA/Session.1/HJournal/00800/00889.html
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