House Amendment 1029


PAG LIN




     1  1    Amend House File 235 as follows:
     1  2 #1.  Page 2, by striking lines 6 through 8 and
     1  3 inserting the following:  <midnight on the last day of
     1  4 the registration year.  A person shall not be
     1  5 penalized for driving a motor vehicle with an expired
     1  6 registration for a period of one month following the
     1  7 expiration date of the vehicle registration.  The one=
     1  8 month period shall be the same as the period defined
     1  9 in section 321.134, subsection 1.>
     1 10 #2.  Page 5, by inserting after line 10, the
     1 11 following:
     1 12    <Sec. 100.  NEW SECTION.  435.26A  SURRENDER OF
     1 13 TITLE.
     1 14    1.  A person who owns a manufactured home that is
     1 15 located in a manufactured home community and is
     1 16 installed on a permanent foundation may surrender the
     1 17 manufactured home's certificate of title to the county
     1 18 treasurer for the purpose of assuring eligibility for
     1 19 funds available from mortgage lending programs
     1 20 sponsored by the federal national mortgage
     1 21 association, the federal home loan mortgage
     1 22 corporation, the United States department of
     1 23 agriculture, or any other federal governmental agency
     1 24 or instrumentality that has similar requirements for
     1 25 mortgage lending programs.
     1 26    2.  Upon receipt of a certificate of title from a
     1 27 manufactured home owner, a county treasurer shall
     1 28 notify the department of transportation that the
     1 29 certificate of title has been surrendered, remove the
     1 30 registration of title from the county treasurer's
     1 31 records, and destroy the record of title.
     1 32    3.  After the surrender of a manufactured home's
     1 33 certificate of title under this section, the
     1 34 manufactured home shall continue to be taxed under
     1 35 section 435.22 and is not eligible for the homestead
     1 36 tax credit or the military service tax exemption.  A
     1 37 foreclosure action on a manufactured home whose title
     1 38 has been surrendered under this section shall be
     1 39 conducted as a real estate foreclosure.  A tax lien
     1 40 and its priority shall remain the same on a
     1 41 manufactured home after its certificate of title has
     1 42 been surrendered.
     1 43    4.  The certificate of title of a manufactured home
     1 44 shall not be surrendered under this section if an
     1 45 unreleased security interest is noted on the
     1 46 certificate of title.
     1 47    5.  An owner of a manufactured home who has
     1 48 surrendered a certificate of title under this section
     1 49 and requires another certificate of title for the
     1 50 manufactured home is required to apply for a bonded
     2  1 certificate of title under chapter 321.>
     2  2 #3.  Page 5, by inserting after line 18, the
     2  3 following:
     2  4    <Sec.    .  EFFECTIVE DATE.  Section 100 of this
     2  5 Act, being deemed of immediate importance, takes
     2  6 effect upon enactment.>
     2  7 #4.  Title page, line 1, by inserting after the
     2  8 word <treasurer> the following:  <and providing an
     2  9 effective date>.
     2 10 #5.  By renumbering as necessary.
     2 11
     2 12
     2 13                               
     2 14 CARROLL of Poweshiek
     2 15
     2 16
     2 17                               
     2 18 CONNORS of Polk
     2 19 HF 235.701 80
     2 20 av/cl

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