House Journal: Page 1210: Tuesday, April 4, 2000
Unfinished Business Calendar
House File 2373, a bill for an act relating to the issuance of
closing protection letters by the Iowa finance authority, was taken up
for consideration.
Hoffman of Crawford offered the following amendment H-8718
filed by him from the floor and moved its adoption:
H-8718
1 Amend House File 2373 as follows:
2 1. Page 1, by inserting before line 1 the
3 following:
4 "Section 1. Section 7C.5, Code 1999, is amended to
5 read as follows:
6 7C.5 FORMULA FOR ALLOCATION.
7 1. Except as provided in subsection 2 and in
8 section 7C.4A, subsections 1 through 5, the state
9 ceiling shall be allocated among all political
10 subdivisions on a statewide basis on the basis of the
11 chronological orders of receipt by the governor's
12 designee of the applications described in section 7C.6
13 with respect to a definitive issue of bonds, as
14 determined by the day, hour, and minute time-stamped
15 on the application immediately upon receipt by the
16 governor's designee. However, for the period January
17 1 through June 30 of each year, allocations to bonds
18 for which an amount of the state ceiling has been
19 reserved pursuant to section 7C.4A, subsection 6,
20 shall be made to the political subdivisions submitting
21 the applications first from the reserved amount until
22 the reserved amount has been fully allocated and then
23 from the amount specified in section 7C.4A, subsection
24 7.
25 2. a. Applications for the state ceiling
26 allocation under section 7C.4A, subsection 5, shall be
27 competitively rated by the governor's designee based
28 on the following criteria:
29 (1) The total number of jobs created.
30 (2) The total number of jobs to be created which
31 meet the wage threshold requirements of subparagraph
32 (3).
33 (3) The jobs to be created shall have a starting
34 wage of the lowest of any of the following:
35 (a) Ninety percent of the average county wage.
36 (b) Ninety percent of the average regional wage.
37 (c) Nine dollars and fifty cents adjusted annually
38 by calculating the percent increase or decrease in the
39 average Iowa hourly earnings level for all production
© 2000 Cornell College and
League of Women Voters of Iowa
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