House Journal: Page 1393: Friday, April 25, 2003
Page 10
1 revenue to the city, county, or state. Eligible
2 projects are projects which cannot be funded from a
3 city's or county's operating budget without adversely
4 affecting the city's or county's normal service
5 levels. Preference shall be given to requests
6 involving the sharing of services between two or more
7 local governments. Projects may include, but are not
8 limited to, purchase of advanced technology,
9 contracting for expert services, and acquisition of
10 equipment or supplies.
11 3. A city or county seeking a loan from the local
12 government innovation fund shall complete an
13 application form designed by the local government
14 innovation fund committee which employs a return on
15 investment concept and demonstrates how the project
16 funded by the loan will result in reduced city,
17 county, or state general fund expenditures or how city
18 or county fund revenues will increase without an
19 increase in state costs. Minimum loan requirements
20 for city or county requests shall be determined by the
21 committee.
22 4. a. In order for the local government
23 innovation fund to be self-supporting, the local
24 government innovation fund committee shall establish
25 repayment schedules for each loan awarded. The loan
26 requirements shall be outlined in a chapter 28E
27 agreement executed between the state and the city or
28 county receiving the loan. A city or county shall
29 repay the loan over a period not to exceed five years,
30 with interest, at a rate to be determined by the local
31 government innovation fund committee.
32 b. The local government innovation fund committee
33 shall utilize the department of management, the
34 department of revenue and finance, or other source of
35 technical expertise designated by the committee to
36 certify savings projected for a local government
37 innovation fund project.
38 5. Notwithstanding section 12C.7, subsection 2,
39 interest or earnings on moneys deposited in the local
40 government innovation fund shall be credited to the
41 local government innovation fund. Notwithstanding
42 section 8.33, moneys appropriated to and moneys
43 remaining in the local government innovation fund at
44 the end of a fiscal year shall not revert to the
45 general fund of the state.
46 Sec. 28. LOCAL GOVERNMENT INNOVATION FUND
47 APPROPRIATION. There is appropriated from the general
48 fund of the state to the department of management for
49 the fiscal year beginning July 1, 2003, and ending
50 June 30, 2004, the following amount, or so much
© 2003 Cornell College and
League of Women Voters of Iowa
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