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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