Text: SF00245 Text: SF00247 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 16.100, Code 1999, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 1A. a. Moneys transferred to the housing 1 4 improvement fund pursuant to section 428A.8, subsection 1, 1 5 paragraph "a", for the purposes of this paragraph, shall be 1 6 distributed, on a per capita basis according to the 1990 1 7 federal census, to each county. 1 8 b. In order to receive moneys under this subsection, a 1 9 county shall be a member of a housing council. The housing 1 10 council shall consist of the supervisors of the county and the 1 11 mayor of each city in the county, or their designees. A 1 12 housing council may represent more than one county and the 1 13 cities within each county and may be an entity formed under 1 14 chapter 28E or an entity under chapter 28H. 1 15 c. The function of the housing council shall be to 1 16 coordinate housing programs in the county including having 1 17 housing needs assessments completed if not already done, 1 18 developing or coordinating a housing plan approved by the 1 19 department of economic development, encouraging the formation 1 20 of partnerships with other governmental entities and public- 1 21 private partnerships regarding housing, and recommending 1 22 funding for projects under the housing plan from moneys 1 23 received under this subsection. 1 24 d. Moneys received under this subsection shall only be 1 25 used for housing programs which facilitate housing 1 26 development, including housing trust funds or programs for the 1 27 rehabilitation or construction of housing. The cost of the 1 28 housing needs assessment may be paid from moneys received 1 29 under this subsection. Moneys not obligated for a project 1 30 recommended by the housing council within one year of transfer 1 31 shall revert to the housing improvement fund. 1 32 e. Counties receiving moneys under this subsection shall 1 33 track the use of the funds by project, program, or activity 1 34 and shall provide a report to the department of economic 1 35 development and the Iowa finance authority regarding the use 2 1 of the funds by December 15 of each year. 2 2 f. Moneys provided under this subsection shall not be used 2 3 to supplant funding for housing programs provided by a city or 2 4 county. 2 5 g. The authority shall adopt rules to administer this 2 6 subsection. 2 7 Sec. 2. Section 16.100, subsection 2, Code 1999, is 2 8 amended by adding the following new paragraph: 2 9 NEW PARAGRAPH. e. An affordable housing program for the 2 10 renovation or new construction of affordable housing in a 2 11 community which seeks to increase its housing stock for 2 12 economic development or other public purposes. The program 2 13 shall be used to provide financial assistance to reduce the 2 14 costs to communities of expanding the housing stock and to 2 15 reduce the costs to home buyers of purchasing housing. 2 16 Sec. 3. Section 428A.8, Code 1999, is amended to read as 2 17 follows: 2 18 428A.8 REMITTANCE TO STATE TREASURER – PORTION RETAINED 2 19 IN COUNTY. 2 20 1. On or before the tenth day of each month the county 2 21 recorder shall determine and pay to the treasurer of state 2 22 eighty-two and three-fourths percent of the receipts from the 2 23 real estate transfer tax collected during the preceding month 2 24 and the treasurer of state shall depositninety-five percent2 25 the receipts as follows: 2 26 a. Two-thirds of the receiptsin the general fund of the2 27state and transfer five percent of the receiptsshall be 2 28 transferred to the Iowa finance authority for deposit in the 2 29 housing improvement fund created in section 16.100. Of the 2 30 moneys transferred under this paragraph, sixty percent shall 2 31 be used in accordance with the section 16.100, subsection 1A, 2 32 and forty percent shall be used for the other purposes of the 2 33 housing improvement fund. 2 34 b. Five percent of the receipts shall be transferred to 2 35 the shelter assistance fund created in section 15.349. 3 1 c. The remaining receipts shall be deposited in the 3 2 general fund of the state. 3 3 2. The county recorder shall deposit the remaining 3 4 seventeen and one-fourth percent of the receipts in the county 3 5 general fund. 3 6 3. The county recorder shall keep records and make reports 3 7 with respect to the real estate transfer tax as the director 3 8 of revenue and finance prescribes. 3 9 EXPLANATION 3 10 This bill requires the Iowa finance authority to establish 3 11 an affordable housing program designed to assist a community 3 12 to expand the stock of owner-occupied housing for economic 3 13 development or other public purposes. The program shall 3 14 provide financial assistance to communities to reduce the cost 3 15 of renovating or constructing housing and to reduce the costs 3 16 of purchasing housing. 3 17 The bill creates a new program within the Iowa finance 3 18 authority providing for moneys to be transferred to counties 3 19 on a per capita basis for housing programs. Funding for this 3 20 program shall come from proceeds from diverting two-thirds of 3 21 the proceeds from the real estate transfer tax, 95 percent of 3 22 which is currently being deposited in the general fund of the 3 23 state, to the Iowa finance authority. Sixty percent of the 3 24 moneys would be used by the authority to fund the per capita 3 25 transfers to the counties and 40 percent would be used by the 3 26 authority for the housing improvement fund. Five percent of 3 27 the proceeds from the tax itself would continue to be 3 28 transferred to the shelter assistance fund with the remaining 3 29 proceeds being deposited in the general fund of the state. 3 30 LSB 2705XS 78 3 31 tm/cf/24
Text: SF00245 Text: SF00247 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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