Text: HF00366 Text: HF00368 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 16B.101 DEFINITIONS.
1 2 As used in this chapter, unless the context otherwise
1 3 suggests:
1 4 1. "Board" means the housing trust board established in
1 5 section 16B.103.
1 6 2. "Fund" means the housing trust fund created in section
1 7 16B.102.
1 8 Sec. 2. NEW SECTION. 16B.102 HOUSING TRUST FUND.
1 9 1. A housing trust fund is created in the state treasury.
1 10 The fund shall be jointly administered by the Iowa finance
1 11 authority and the department of economic development, subject
1 12 to the direction of the board, and pursuant to a memorandum of
1 13 agreement entered into by the authority and the department.
1 14 The fund shall consist of any moneys appropriated by the
1 15 general assembly and any other moneys available to and
1 16 obtained or accepted by the board for placement in the fund.
1 17 Moneys in the fund shall be used to provide financial
1 18 assistance for housing projects. Payments of interest,
1 19 repayments of moneys loaned pursuant to this chapter, and
1 20 recaptures of grants or loans shall be deposited in the fund.
1 21 Moneys in the fund are not subject to section 8.33.
1 22 Notwithstanding section 12C.7, subsection 2, interest or
1 23 earnings on moneys in the fund shall be credited to the fund.
1 24 The authority and the department shall allocate the moneys in
1 25 the fund to one of the three accounts created in subsection 2.
1 26 2. The following accounts are created within the housing
1 27 trust fund:
1 28 a. Housing opportunity account. Moneys in the housing
1 29 opportunity account shall be immediately accessible to the
1 30 board for economic development related housing projects. In
1 31 order to receive financial assistance using moneys out of the
1 32 account, the recipient of the financial assistance must secure
1 33 a local match equal to twenty percent of the financial
1 34 assistance received from the account. No income restrictions
1 35 shall be placed on financial assistance received from the
2 1 account.
2 2 b. County housing account. Moneys in the county housing
2 3 account shall be distributed annually to counties through
2 4 local housing trust funds on a per capita basis and shall be
2 5 used by counties for any housing need determined by the local
2 6 housing trust. In order to receive moneys from a local
2 7 housing trust, a county must provide evidence of a local match
2 8 equal to twenty percent of the county housing account moneys
2 9 received from the local housing trust.
2 10 c. Competitive housing account. Allocation of moneys in
2 11 the competitive housing account shall be allocated according
2 12 to census tracts within enterprise zones certified pursuant to
2 13 section 15E.194. The moneys shall be distributed through a
2 14 competitive application process.
2 15 3. Moneys in the housing trust fund may be used for any of
2 16 the following purposes:
2 17 a. For market rate development in stagnant housing
2 18 markets.
2 19 b. For distribution to local housing trust funds provided
2 20 that criteria in subsection 2, paragraph "b", are met.
2 21 c. For any purpose provided in section 16.100.
2 22 d. As incentives for supportive service packages provided
2 23 by the private sector and governmental entities for
2 24 transitional and permanent housing which specifically include
2 25 persons with mental disabilities, new immigrants, and persons
2 26 who have tested positive for acquired immune deficiency
2 27 syndrome.
2 28 e. For technical assistance for developers, local
2 29 governments and neighborhoods, faith-based groups, and
2 30 industry.
2 31 f. For investments in financial assurance programs for
2 32 high-risk tenants.
2 33 g. For housing and community development related training
2 34 programs for young Iowans and immigrants.
2 35 h. As matching moneys for employer assistance and federal
3 1 housing programs.
3 2 i. For educational programs on housing programs, predatory
3 3 lending practices, financial literacy, and tenant and landlord
3 4 issues.
3 5 j. For services to nonprofit or local communities to
3 6 develop proposals.
3 7 k. For homeless assistance.
3 8 l. For bond issuances related to housing.
3 9 m. To encourage new construction by annually targeting
3 10 housing trust fund moneys for loans or grants to those who
3 11 demonstrate a need for assistance with land and infrastructure
3 12 costs for housing subdivisions when private capital is not
3 13 available.
3 14 Sec. 3. NEW SECTION. 16B.103 HOUSING TRUST BOARD.
3 15 1. A housing trust board is established consisting of
3 16 seven members. In performing its functions, the board is
3 17 performing a public function on behalf of the state and is a
3 18 public instrumentality of the state.
3 19 2. The membership of the board shall be as follows:
3 20 a. One representative of a city with a population over one
3 21 hundred thousand.
3 22 b. One representative of a county with a population of
3 23 fifty thousand or more.
3 24 c. One representative of a county with a population of
3 25 less than fifty thousand.
3 26 d. One person with expertise in the area of mortgages and
3 27 lending.
3 28 e. One person with expertise as a developer.
3 29 f. One person with expertise in housing issues with a
3 30 nonprofit organization.
3 31 g. One member of the general public.
3 32 3. All appointments shall be made by the governor, shall
3 33 comply with sections 69.16 and 69.16A, and shall be subject to
3 34 confirmation by the senate pursuant to section 2.32.
3 35 4. The chairperson and vice chairperson of the board shall
4 1 be designated by the governor from the board members. In case
4 2 of the absence or disability of the chairperson and vice
4 3 chairperson, the members of the board shall elect a temporary
4 4 chairperson by a majority vote of those members who are
4 5 present and voting.
4 6 5. The members shall be appointed to three-year staggered
4 7 terms and the terms shall commence and end as provided by
4 8 section 69.19. If a vacancy occurs, a successor shall be
4 9 appointed to serve the unexpired term. A successor shall be
4 10 appointed in the same manner and subject to the same
4 11 qualifications as the original appointment to serve the
4 12 unexpired term.
4 13 6. A majority of the board constitutes a quorum.
4 14 7. The Iowa finance authority and the department of
4 15 economic development shall enter into a memorandum of
4 16 agreement for purposes of administering the housing trust fund
4 17 created in section 16B.102, providing staffing services to the
4 18 board, and providing necessary office space, equipment, and
4 19 supplies to the board.
4 20 Sec. 4. NEW SECTION. 16B.104 BOARD DUTIES.
4 21 The board shall do all of the following:
4 22 1. Organize.
4 23 2. Direct the administration of the housing trust fund
4 24 created in section 16B.102.
4 25 3. Provide advice and assistance to any state agency
4 26 administering a housing related program.
4 27 4. Provide assistance to a city or county in identifying
4 28 or organizing a local housing trust.
4 29 Sec. 5. NEW SECTION. 16B.105 LOCAL HOUSING TRUSTS.
4 30 1. A city, a county, a combination of cities, a
4 31 combination of counties, a combination of cities and counties,
4 32 or a council of governments established pursuant to chapter
4 33 28H may establish a local housing trust fund consisting of any
4 34 housing-related moneys received by the entity establishing the
4 35 fund from local, state, federal, or private sources. Any
5 1 moneys received pursuant to section 16B.102 shall be deposited
5 2 in a local housing trust fund.
5 3 2. An entity establishing a local housing trust fund shall
5 4 designate a local housing trust. A local housing trust shall
5 5 be any nonprofit organization that has been determined under
5 6 section 501(c)(3) of the Internal Revenue Code to be exempt
5 7 from taxation.
5 8 3. A local housing trust shall do all of the following:
5 9 a. Administer moneys in a local housing trust fund.
5 10 b. Aid local governments and organizations in raising
5 11 private matching moneys to qualify for receipt of housing
5 12 trust fund moneys.
5 13 c. Develop a housing educational program to expand and
5 14 market housing related programs, including home ownership
5 15 education programs, renter education programs, and financial
5 16 literacy programs.
5 17 d. Promote community involvement and awareness in housing
5 18 policy and initiatives.
5 19 e. Raise awareness of health and safety issues in housing
5 20 construction, renovations, and maintenance.
5 21 Sec. 6. NEW SECTION. 16B.106 RULES.
5 22 The board shall adopt rules pursuant to chapter 17A
5 23 necessary for administering this chapter.
5 24 Sec. 7. PLANNING FOR STATE HOUSING AGENCY.
5 25 1. The governor's office, in consultation with the
5 26 department of economic development and the Iowa finance
5 27 authority, shall provide a plan to the general assembly for
5 28 consolidating all housing-related programs within an existing
5 29 state agency designed to be responsible for all state programs
5 30 related to housing. The plan shall be submitted to the
5 31 general assembly by December 31, 2002.
5 32 2. The plan shall include a mission for the state housing
5 33 agency which shall at least incorporate all of the following:
5 34 a. Providing loans, grants, and low-interest loans for
5 35 equity financing.
6 1 b. Establishing different goals and requirements to meet
6 2 the housing needs of both rural and urban communities.
6 3 c. Developing state and city housing partnerships.
6 4 d. Identifying tools that are particular to urban areas.
6 5 e. Developing a metropolitan planning strategy that
6 6 focuses on housing and neighborhood development.
6 7 f. Targeting specific housing services for small town
6 8 development.
6 9 3. The plan for a state housing agency shall include a
6 10 list of duties and responsibilities for the state housing
6 11 agency which shall at least incorporate all of the following:
6 12 a. Acting as a clearinghouse by doing all of the
6 13 following:
6 14 (1) Compiling a comprehensive summary of state, federal,
6 15 local, and quasi-public housing and community development
6 16 programs.
6 17 (2) Managing and coordinating statewide planning for
6 18 housing development.
6 19 (3) Managing and coordinating the development of statewide
6 20 neighborhood network strategies and initiatives.
6 21 b. Managing and coordinating regular training sessions for
6 22 real estate developers and local government officials on
6 23 housing finance and community development initiatives.
6 24 c. Managing and coordinating a housing roundtable which
6 25 shall include state, federal, nonprofit, and quasi-public
6 26 entities that provide housing finance assistance and housing
6 27 assistance.
6 28 d. Managing and coordinating all housing related state and
6 29 federal initiatives.
6 30 e. Ensuring that all local housing plans in the state
6 31 produce a consistent state strategy.
6 32 f. The agency shall advise the housing trust board
6 33 regarding the use of moneys in the housing trust fund.
6 34 g. Administering all direct federal housing grant programs
6 35 which impact community amenities and complement housing.
7 1 h. Establishing a state housing policy to target more
7 2 financial assistance services to Iowa's inner city and
7 3 downtown communities and small towns.
7 4 i. Providing direct housing information to local
7 5 governments and housing developers.
7 6 j. Reviewing all housing programs within the state and
7 7 determine if a different state agency would be better suited
7 8 to administer a program.
7 9 k. Eliminating barriers to affordable housing by doing all
7 10 of the following:
7 11 (1) Creating a deposit assistance program.
7 12 (2) Establishing consistent and appropriate procedures for
7 13 property tax valuation of affordable housing.
7 14 (3) Ensuring compliance with the federal Community
7 15 Reinvestment Act, 12 U.S.C. } 2901 et seq.
7 16 (4) Ensuring immigrants have knowledge of local affordable
7 17 housing options.
7 18 l. Providing services previously provided by a nonprofit
7 19 corporation created by or in association with the Iowa finance
7 20 authority since January 1, 1989.
7 21 m. Creating a differentiated breakdown, according to
7 22 population, for allocating financial resources to its housing
7 23 programs.
7 24 EXPLANATION
7 25 This bill creates a housing trust fund, a housing trust
7 26 fund board, allows the formation of local housing trusts, and
7 27 provides for the planning of a state housing agency.
7 28 The bill creates a housing trust fund under the control of
7 29 the Iowa finance authority and the department of economic
7 30 development pursuant to a memorandum of agreement. The bill
7 31 creates a housing opportunity account, a county housing
7 32 account, and a competitive housing account within the housing
7 33 trust fund and requires the authority and the department to
7 34 allocate moneys in the fund to one of the three accounts.
7 35 The bill provides that moneys in the housing opportunity
8 1 account shall be immediately accessible to the board for
8 2 economic development related housing projects. The bill
8 3 provides that, in order to receive financial assistance using
8 4 moneys out of the account, the recipient of the financial
8 5 assistance must secure a local match equal to 20 percent of
8 6 the financial assistance received from the account. The bill
8 7 provides that there shall be no income restrictions placed on
8 8 financial assistance received from the account.
8 9 The bill provides that moneys in the county housing account
8 10 shall be distributed annually to counties through local
8 11 housing trust funds on a per capita basis and shall be used by
8 12 counties for any housing need determined by the local housing
8 13 trust. The bill provides that, in order to receive moneys
8 14 from a local housing trust, a county must provide evidence of
8 15 a local match equal to 20 percent of the county housing
8 16 account moneys received from the local housing trust.
8 17 The bill provides that allocation of moneys in the
8 18 competitive housing account shall be allocated according to
8 19 census tracts within enterprise zones certified pursuant to
8 20 section 15E.194. The bill provides that moneys shall be
8 21 distributed through a competitive application process.
8 22 The bill provides that moneys in the housing trust fund may
8 23 be used for market rate development in stagnant markets; for
8 24 distribution to local housing trust funds; for any purpose
8 25 provided in the current housing improvement fund program
8 26 administered by the Iowa finance authority; as incentives for
8 27 certain supportive service packages provided by the private
8 28 sector and governmental entities for transitional and
8 29 permanent housing; for technical assistance; for investments
8 30 in financial assurance programs for high-risk tenants; for
8 31 housing and community development related training programs;
8 32 as matching moneys for employer assistance and federal housing
8 33 programs; for certain educational programs; for homeless
8 34 assistance; for bond issuances related to housing; for
8 35 services to nonprofit or local communities to develop
9 1 proposals; for homeless assistance; for bond issuances related
9 2 to housing; and to encourage new construction by annually
9 3 targeting moneys for those who demonstrate a need for
9 4 assistance with land and infrastructure costs for housing
9 5 subdivisions when private capital is not available.
9 6 The bill establishes a housing trust board consisting of
9 7 seven members. The bill provides that the board shall
9 8 organize, direct the administration of the housing trust fund,
9 9 provide advice and assistance to any state agency
9 10 administering a housing-related program, and provide
9 11 assistance to a city or county in identifying or organizing a
9 12 local housing trust. The bill provides rulemaking authority
9 13 for the board. The bill provides that the Iowa finance
9 14 authority and the department of economic development shall
9 15 enter into a memorandum of agreement for purposes of
9 16 administering the housing trust fund, providing staffing
9 17 services to the board, and providing necessary office space,
9 18 equipment, and supplies to the board.
9 19 The bill provides that a city, a county, a combination of
9 20 cities, a combination of counties, a combination of cities and
9 21 counties, or a council of governments established pursuant to
9 22 chapter 28H may establish a local housing trust fund
9 23 consisting of any housing-related moneys received by the
9 24 entity establishing the fund from local, state, federal, or
9 25 private sources. The bill provides that an entity
9 26 establishing a local housing trust fund shall designate a
9 27 local housing trust which shall be a nonprofit organization.
9 28 The bill provides that a local housing trust shall administer
9 29 moneys in a local housing trust fund; aid local governments
9 30 and organizations in raising private matching moneys; develop
9 31 a housing educational program to expand and market housing
9 32 related programs; promote community involvement and awareness
9 33 in housing policy and initiatives; and raise awareness of
9 34 health and safety issues in housing.
9 35 The bill requires the governor's office, in consultation
10 1 with the department of economic development and the Iowa
10 2 finance authority, to provide a plan to the general assembly
10 3 for consolidating all housing-related programs within an
10 4 existing state agency designed to be responsible for all state
10 5 programs related to housing. The bill provides that the plan
10 6 shall be submitted to the general assembly by December 31,
10 7 2002.
10 8 The bill provides that the plan shall include a mission for
10 9 the state housing agency which shall at least incorporate
10 10 providing loans, grants, and low-interest loans for equity
10 11 financing; establishing different goals and requirements to
10 12 meet the housing needs of both rural and urban communities;
10 13 developing state and city housing partnerships; identifying
10 14 tools that are particular to urban areas; developing a
10 15 metropolitan planning strategy; and targeting specific housing
10 16 services for small town development.
10 17 The bill provides that the plan for a state housing agency
10 18 shall include a list of duties and responsibilities for the
10 19 state housing agency which shall at least incorporate acting
10 20 as a clearinghouse; managing and coordinating regular training
10 21 sessions for real estate developers and local government
10 22 officials; managing and coordinating a housing roundtable;
10 23 managing and coordinating all housing related state and
10 24 federal initiatives; ensuring that all local housing plans in
10 25 the state produce a consistent state strategy; advising the
10 26 housing trust board; administering all direct federal housing
10 27 grant programs; establishing a state housing policy to target
10 28 more financial assistance services to Iowa's inner city and
10 29 downtown communities and small towns; providing direct housing
10 30 information to local governments and housing developers;
10 31 reviewing all housing programs within the state and determine
10 32 if a different state agency would be better suited to
10 33 administer a program; eliminating barriers to affordable
10 34 housing; providing services previously provided by a nonprofit
10 35 corporation created by or in association with the Iowa finance
11 1 authority since January 1, 1989; and creating a differentiated
11 2 breakdown, according to population, for allocating financial
11 3 resources to its housing programs.
11 4 LSB 2781HH 79
11 5 tm/pj/5
Text: HF00366 Text: HF00368 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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