159A.7  Renewable fuels and coproducts fund.

1.  A renewable fuels and coproducts fund is created in the state treasury under the control of the office of renewable fuels and coproducts. The fund may also include other moneys available to and obtained or accepted by the office, including moneys from the United States, other states in the union, foreign nations, state agencies, political subdivisions, and private sources.

Moneys in the fund shall be used only to carry out the provisions of this section and sections 159A.3, 159A.4, 159A.5, 159A.6, 159A.6A, and 159A.6B within the state of Iowa.

2.  Moneys in the fund shall be allocated during each fiscal year as follows:

a.  At least forty percent shall be dedicated to support education, promotion, and advertising of renewable fuels and coproducts as provided in section 159A.6.

b.  Up to thirty percent may be dedicated to support research at the university of Iowa, Iowa state university of science and technology, and the university of northern Iowa, as provided in section 159A.6A.

c.  Any remaining balance shall be used by the office to support technical assistance as provided in section 159A.6B and any other projects or programs developed by the office.

3.  Moneys in the fund are subject to an annual audit by the auditor of state. The fund is subject to warrants by the director of revenue and finance, drawn upon the written requisition of the coordinator.

4.  In administering the fund, the office may do all of the following:

a.  Contract, sue and be sued, and adopt procedures necessary to administer this section. However, the office shall not in any manner, directly or indirectly, pledge the credit of the state.

b.  Authorize payment from the fund for commissions, attorney and accountant fees, and other reasonable expenses related to and necessary for administering the fund.

5.  Section 8.33 does not apply to moneys in the fund. Income received by investment of moneys in the fund shall remain in the fund.

6.  Moneys appropriated pursuant to section 15E.112 shall be deposited in the fund. Not more than fifteen percent of the moneys appropriated pursuant to section 15E.112 may be used by the department for administration of the office.

Section History: Recent form

  91 Acts, ch 254, §12; 92 Acts, ch 1099, § 4, 10; 93 Acts, ch 180, § 74; 94 Acts, ch 1119, §22; 97 Acts, ch 207, §7-9, 15; 2000 Acts, ch 1230, §21, 22

Internal References

  Referred to in § 15E.112, 159A.2

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