Text: HF02328                           Text: HF02330
Text: HF02300 - HF02399                 Text: HF Index
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House File 2329

Partial Bill History

Bill Text

PAG LIN
  1  1                                           HOUSE FILE 2329
  1  2 
  1  3                             AN ACT
  1  4 EXTENDING THE TIME PERIOD TO QUALIFY FOR CERTAIN LINKED
  1  5    INVESTMENT PROGRAMS AND PROVIDING AN EFFECTIVE DATE.
  1  6 
  1  7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  1  8 
  1  9    Section 1.  1999 Iowa Acts, chapter 177, section 7, is
  1 10 amended to read as follows:
  1 11    SEC. 7.  CURRENT INVESTMENT AGREEMENTS.
  1 12    1.  The Except as provided in subsections 2 and 3, the
  1 13 treasurer of state shall not renew a certificate of deposit in
  1 14 an eligible lending institution, if the total term for the
  1 15 certificate of deposit exceeds the requirements of section
  1 16 12.34, subsection 3, as amended by this Act.  However, nothing
  1 17    2.  Nothing in this Act shall affect the terms or
  1 18 conditions of an investment agreement executed by the
  1 19 treasurer of state with an eligible lending institution that
  1 20 is in effect on the effective date of this Act.
  1 21    3.  a.  The treasurer of state may renew a certificate of
  1 22 deposit in an eligible lending institution as part of a linked
  1 23 investment loan package and in accordance with the investment
  1 24 agreement, as provided in this subsection, if all of the
  1 25 following apply:
  1 26    (1)  The investment agreement was executed prior to May 24,
  1 27 1999.
  1 28    (2)  The eligible lending institution executed a loan
  1 29 agreement with the eligible borrower listed in the linked
  1 30 investment loan package prior to May 24, 1999, and the loan
  1 31 agreement applies on and after May 24, 1999.
  1 32    (3)  The eligible borrower continues to meet the conditions
  1 33 of an eligible borrower as provided in chapter 12, Code 1999.
  1 34    b.  The treasurer of state may renew the certificate of
  1 35 deposit on an annual basis until the earlier of the following:
  2  1    (1)  The termination of the loan agreement executed by the
  2  2 eligible lending institution and the eligible borrower.
  2  3    (2)  The last year that the certificate of deposit may be
  2  4 renewed as provided in section 12.34, Code 1999.
  2  5    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
  2  6 immediate importance, takes effect upon enactment.  
  2  7 
  2  8 
  2  9                                                             
  2 10                               BRENT SIEGRIST
  2 11                               Speaker of the House
  2 12 
  2 13 
  2 14                                                             
  2 15                               MARY E. KRAMER
  2 16                               President of the Senate
  2 17 
  2 18    I hereby certify that this bill originated in the House and
  2 19 is known as House File 2329, Seventy-eighth General Assembly.
  2 20 
  2 21 
  2 22                                                             
  2 23                               ELIZABETH ISAACSON
  2 24                               Chief Clerk of the House
  2 25 Approved                , 2000
  2 26 
  2 27 
  2 28                               
  2 29 THOMAS J. VILSACK
  2 30 Governor
     
Text: HF02328                           Text: HF02330
Text: HF02300 - HF02399                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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