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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