Text: SSB01201 Text: SSB01203 Text: SSB01200 - SSB01299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 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 2385XC 79 2 11 da/cf/24.1
Text: SSB01201 Text: SSB01203 Text: SSB01200 - SSB01299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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