Text: HF00472 Text: HF00474 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. REVERSION OF STATE MONEYS. Any moneys received
1 2 from the Iowa finance authority by a nonprofit corporation
1 3 created by or in association with the authority since January
1 4 1, 1989, which are not otherwise encumbered due to an
1 5 obligation incurred or created prior to June 30, 1999, shall
1 6 revert to the authority on June 30, 1999. If a portion of the
1 7 moneys received by the nonprofit corporation is encumbered on
1 8 June 30, 1999, but the obligation or encumbrance subsequently
1 9 terminates or ceases, those moneys shall also revert to the
1 10 authority as they become unencumbered.
1 11 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
1 12 immediate importance, takes effect upon enactment.
1 13 EXPLANATION
1 14 This bill requires any moneys received from the Iowa
1 15 finance authority by a nonprofit corporation created by or in
1 16 association with the authority since January 1, 1989, which
1 17 are unencumbered to revert to the authority on June 30, 1999.
1 18 The bill provides that if a portion of the moneys is
1 19 encumbered, those moneys shall also revert to the authority as
1 20 they become unencumbered.
1 21 LSB 2360HH 78
1 22 tm/gg/8.1
Text: HF00472 Text: HF00474 Text: HF00400 - HF00499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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