Text: HF02163 Text: HF02165 Text: HF02100 - HF02199 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, 2000, shall
1 6 revert to the authority on June 30, 2000, and shall be used by
1 7 the authority for purposes of providing low-income housing
1 8 assistance. If a portion of the moneys received by the
1 9 nonprofit corporation is encumbered on June 30, 2000, but the
1 10 obligation or encumbrance subsequently terminates or ceases,
1 11 those moneys shall also revert to the authority as they become
1 12 unencumbered.
1 13 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
1 14 immediate importance, takes effect upon enactment.
1 15 EXPLANATION
1 16 This bill requires any moneys received from the Iowa
1 17 finance authority by a nonprofit corporation created by or in
1 18 association with the authority since January 1, 1989, which
1 19 are unencumbered to revert to the authority on June 30, 2000,
1 20 and shall be used by the authority for purposes of providing
1 21 low-income housing assistance. The bill provides that if a
1 22 portion of the moneys is encumbered, those moneys shall also
1 23 revert to the authority as they become unencumbered.
1 24 The bill takes effect upon enactment.
1 25 LSB 5649YH 78
1 26 tm/gg/8
Text: HF02163 Text: HF02165 Text: HF02100 - HF02199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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