Text: S03677 Text: S03679 Text: S03600 - S03699 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend the amendment, S-3613, to House File 742, as 1 2 amended, passed, and reprinted by the House, as 1 3 follows: 1 4 #1. Page 11, line 32, by striking the word ""Sec. 1 5 ___." and inserting the following: 1 6 ""Sec. . USE OF TAX-EXEMPT BOND PROCEEDS 1 7 REIMBURSEMENT. 1 8 1. Notwithstanding any provision of law to the 1 9 contrary, moneys deposited in the tax-exempt bond 1 10 proceeds restricted capital funds account of the 1 11 tobacco settlement trust fund that are subject to an 1 12 appropriation pursuant to section 12E.10, subsection 1 13 1, paragraph "b", as amended by 2001 Iowa Acts, Senate 1 14 File 532, if enacted, shall remain in the tax-exempt 1 15 bond proceeds restricted capital funds account until 1 16 such time as costs are properly incurred and due for 1 17 the purpose for which the appropriation was made. 1 18 Payments for such properly incurred costs shall be 1 19 made consistent with the requirements of federal law, 1 20 chapter 12E, as amended by 2001 Iowa Acts, Senate File 1 21 532, if enacted, and the sales agreement, as defined 1 22 in section 12E.2. 1 23 2. Until bond proceeds are received by the tobacco 1 24 settlement authority and deposited in the tax-exempt 1 25 bond proceeds restricted capital funds account of the 1 26 tobacco settlement trust fund, payments for costs 1 27 incurred for projects for which appropriations are 1 28 made in section 504 of this division of this Act may 1 29 be made from the rebuild Iowa infrastructure fund. 1 30 Upon receipt of bond proceeds and deposit of the 1 31 proceeds in the tax-exempt bond proceeds restricted 1 32 capital funds account, such payments shall be 1 33 reimbursed to the rebuild Iowa infrastructure fund 1 34 from the tax-exempt bond proceeds restricted capital 1 35 funds account, subject, however, to any applicable 1 36 limitations on the use of the proceeds as provided in 1 37 the Internal Revenue Code and this Act. 1 38 Sec. ." 1 39 #2. By renumbering as necessary. 1 40 1 41 1 42 1 43 JEFF LAMBERTI 1 44 HF 742.517 79 1 45 nh/pj
Text: S03677 Text: S03679 Text: S03600 - S03699 Text: S Index Bills and Amendments: General Index Bill History: General Index
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