Text: SF00387                           Text: SF00389
Text: SF00300 - SF00399                 Text: SF Index
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Senate File 388

Partial Bill History

Bill Text

  1  1    Section 1.  Section 15E.205, Code 2001, is amended by
  1  2 adding the following new subsection:
  1  3    NEW SUBSECTION.  1A.  If an Iowa agricultural industry
  1  4 finance corporation receives or has received moneys
  1  5 appropriated by the state, all of the following shall apply:
  1  6    a.  All meetings of the corporation's board of directors
  1  7 shall be open to the public, unless the board votes to close
  1  8 the meeting by affirmative public vote of either two-thirds of
  1  9 the members of the board or all of the members present at the
  1 10 meeting.
  1 11    b.  The minutes of the meetings of the corporation's board
  1 12 of directors shall be subject to public examination and
  1 13 reproduction in the same manner as a public record as provided
  1 14 in chapter 22, and is subject to confidentiality in the same
  1 15 manner as provided in section 22.7.
  1 16    Sec. 2.  APPLICABILITY.  This Act shall apply to the board
  1 17 of directors of an Iowa agricultural industry finance
  1 18 corporation, regardless of whether the board is the initial
  1 19 board of directors or a permanent board of directors as
  1 20 provided in sections 15E.205 and 15E.206.
  1 21    Sec. 3.  EFFECTIVE DATE.  This Act, being deemed of
  1 22 immediate importance, takes effect upon enactment.  
  1 23                           EXPLANATION
  1 24    Division XIX of Code chapter 15E (referred to as the "Iowa
  1 25 Agricultural Industry Finance Act") authorizes the formation
  1 26 of one or more Iowa agricultural industry finance
  1 27 corporations.  The purpose of such a corporation is to
  1 28 facilitate opportunities for local agricultural producer-led
  1 29 ventures and to expand production and processing of high-value
  1 30 agricultural products.  Such a corporation is governed by a
  1 31 board of directors.  Code section 15E.206 provides for the
  1 32 organization of the board of an individual corporation by an
  1 33 initial board of directors.
  1 34    The bill also provides that if an Iowa agricultural
  1 35 industry finance corporation receives state appropriations, a
  2  1 board of directors meeting is public, unless the board by
  2  2 supermajority vote provides for a closed meeting.  The bill
  2  3 provides that the minutes of the board of directors meetings
  2  4 shall be considered public records in the same manner as
  2  5 provided in Code chapter 22.
  2  6    The bill provides that its provisions apply to both the
  2  7 initial board of directors and the permanent board whenever it
  2  8 is constituted.
  2  9    The bill takes effect upon enactment.  
  2 10 LSB 2385SV 79
  2 11 da/cf/24

Text: SF00387                           Text: SF00389
Text: SF00300 - SF00399                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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