House Journal: Page 1476: Monday, April 28, 2003
44 the state treasury under the control of the
45 department.
46 2. The biodiesel fuel promotion fund shall include
47 any moneys appropriated to the fund by the general
48 assembly, payments of interest earned, recaptures of
49 awards, repayments of moneys loaned or expended under
50 the biodiesel stock processing program as provided in
Page 4
1 section 15E.113A, the repossession and sale of assets
2 securing a loan made under the program, and any other
3 moneys available to and obtained or accepted by the
4 department from the federal government or private
5 sources for placement in the fund.
6 3. The fund shall be used to support the biodiesel
7 equipment acquisition program as provided in section
8 15E.113 and the biodiesel stock processing program as
9 provided in section 15E.113A.
10 4. a. The department shall not use more than two
11 percent of all moneys deposited and required to be
12 deposited in the fund, as calculated on July 1 of each
13 year for departmental administrative expenses.
14 b. In administering the fund, the department may
15 contract, sue and be sued, and adopt administrative
16 rules necessary to carry out the provisions of this
17 section and sections 15E.113 and 15E.113A. However,
18 the department shall not in any manner directly or
19 indirectly pledge the credit of the state.
20 c. Moneys shall not be transferred, used,
21 obligated, appropriated, or otherwise encumbered
22 except as provided in this section.
23 5. Section 8.33 does not apply to any moneys in
24 the fund. Notwithstanding section 12C.7, interest
25 earned on moneys in the fund shall be credited to the
26 fund.
27 6. The fund is subject to an annual audit by the
28 auditor of state. Moneys in the fund, which may be
29 subject to warrants written by the director of revenue
30 and finance, shall be drawn upon the written
31 requisition of the director of the department of
32 economic development or an authorized representative
33 of the director.
34 Sec. 5. Section 159A.2, subsections 6 and 8, Code
35 2003, are amended to read as follows:
36 6. "Renewable fuel" means an energy source at
37 least in part derived from an organic compound capable
38 of powering machinery, including an engine or power
39 plant. A renewable fuel includes but is not limited
40 to ethanol-blended or soydiesel biodiesel-blended
41 fuel.
42 8. "Soydiesel "Biodiesel-blended fuel" means a
© 2003 Cornell College and
League of Women Voters of Iowa
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