Text: HF02232 Text: HF02234 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 16.10, subsection 1, Code 1999, is
1 2 amended to read as follows:
1 3 1. Moneys declared by the authority to be surplus moneys
1 4 which are not required to service bonds and notes issued by
1 5 the authority, to pay administrative expenses of the
1 6 authority, or to accumulate necessary operating or loss
1 7 reserves, shall be used by the authority to provide grants,
1 8 subsidies, and services to lower income families and very low
1 9 income families through the programs authorized in this
1 10 chapter or to provide funds for the residential mortgage
1 11 interest reduction program established pursuant to section
1 12 16.81. In addition, the authority may use such surplus moneys
1 13 to provide assistance to the local housing assistance program
1 14 established in sections 15.351 through 15.354 for purposes of
1 15 providing assistance to low and moderate income families.
1 16 Surplus moneys shall not be used for infrastructure or
1 17 administration purposes under the local housing assistance
1 18 program.
1 19 EXPLANATION
1 20 This bill relates to the funding of the local housing
1 21 assistance program administered by the department of economic
1 22 development.
1 23 The bill provides that the Iowa finance authority may
1 24 provide surplus moneys to the local housing assistance program
1 25 for purposes of providing assistance to low and moderate
1 26 income families. The bill provides that the surplus moneys
1 27 shall not be used under the local housing assistance program
1 28 for purposes of infrastructure and administration.
1 29 LSB 6047YH 78
1 30 tm/as/5
Text: HF02232 Text: HF02234 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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