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426.7 Warrants drawn by director.

After receiving from the county auditors the certifications provided for in section 426.6, and during the following fiscal year, the director of revenue and finance shall draw warrants on the agricultural land credits fund created in section 426.1, payable to the county treasurers in the amount certified by the county auditors of the respective counties and mail the warrants to the county auditors on August 15 of each year taking into consideration the relative budget and cash position of the state resources. However, if the agricultural land credits fund is insufficient to pay in full the total of the amounts certified to the director of revenue and finance, the director shall prorate the fund to the county treasurers and notify the county auditors of the pro rata percentage on or before August 1.

Section History: Early form

[C39, § 6943.157; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 426.7]

Section History: Recent form

83 Acts, ch 172, § 6; 86 Acts, ch 1244, § 52

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