House File 2772 H-8415 Amend House File 2772 as follows: 1 1. Page 1, by striking lines 21 and 22. 2 2. Page 1, line 23, by striking < f. > and inserting < e. > 3 3. Page 1, line 31, by striking < g. > and inserting < f. > 4 4. Page 1, line 33, by striking < h. > and inserting < g. > 5 5. Page 2, line 1, by striking < i. > and inserting < h. > 6 6. Page 2, by striking line 14 and inserting: 7 < . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FTEs 111.50 > 8 7. By striking page 3, line 28, through page 4, line 2. 9 8. Page 4, line 3, by striking < c. > and inserting < a. > 10 9. Page 4, line 8, by striking < d. > and inserting < b. > 11 10. Page 4, by striking line 19 and inserting: 12 < . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 450,000 > 13 11. Page 4, by striking lines 20 through 26. 14 12. Page 4, line 27, by striking < 6. > and inserting < 5. > 15 13. Page 5, line 16, by striking < 7. > and inserting < 6. > 16 14. By striking page 16, line 27, through page 19, line 15, 17 and inserting: 18 < Sec. ___. NEW SECTION . 16.52 Housing renewal program. 19 1. For purposes of this section: 20 a. “Eligible participant” includes cities, counties, 21 consortiums of local governments, and organizations exempt from 22 taxation pursuant to section 501(c)(3) of the Internal Revenue 23 Code. 24 b. “Nonprofit Iowa affiliate” means a nonprofit Iowa 25 affiliate of a nonprofit international organization whose 26 primary activity is the promotion of the construction, 27 remodeling, or rehabilitation of one-family or two-family 28 dwellings for use by low-income families. 29 2. a. A housing renewal program fund is created in the 30 state treasury under the control of the authority. The fund 31 shall consist of moneys appropriated to or deposited in the 32 fund. Moneys in the fund are appropriated to the authority to 33 administer the housing renewal program. 34 b. Notwithstanding section 8.33, moneys appropriated to 35 -1- HF 2772.4266 (2) 91 nls/ko 1/ 4 #1. #2. #3. #4. #5. #6. #7. #8. #9. #10. #11. #12. #13. #14.

the housing renewal program fund that remain unencumbered or 1 unobligated at the close of a fiscal year shall not revert 2 but shall remain available for expenditure for the purposes 3 designated until the close of the succeeding fiscal year. 4 c. Notwithstanding section 12C.7, subsection 2, interest or 5 earnings on moneys in the housing renewal program fund shall be 6 credited to the fund. Payment of interest, income generated 7 from the sale of an ownership unit pursuant to subsection 6, 8 recaptures of financial assistance awards, and other repayments 9 under the housing renewal program shall be retained by the 10 nonprofit Iowa affiliate for the purpose of awarding financial 11 assistance under the housing renewal program to eligible 12 participants. 13 3. a. The authority shall provide moneys from the housing 14 renewal program fund to a nonprofit Iowa affiliate that shall 15 use the moneys to award financial assistance under the housing 16 renewal program to eligible participants. 17 b. Eligible participants shall use financial assistance 18 awarded under the housing renewal program only for purposes of 19 the acquisition, rehabilitation, and resale of ownership units; 20 the acquisition and demolition of blighted structures; and the 21 redevelopment of ownership units. 22 4. Twenty-five percent of moneys appropriated to the 23 housing renewal program fund shall be allocated to financial 24 assistance awards for eligible participants located in the 25 eighty-eight least populated counties in the state according to 26 the most recent federal decennial census. 27 5. a. The nonprofit Iowa affiliate shall determine the 28 criteria used to evaluate eligible participants and to award 29 financial assistance to eligible participants selected by the 30 nonprofit Iowa affiliate. 31 b. The nonprofit Iowa affiliate shall not award an eligible 32 participant more than one hundred thousand dollars per 33 ownership unit. The nonprofit Iowa affiliate may use up to 34 five percent of the financial assistance awarded to an eligible 35 -2- HF 2772.4266 (2) 91 nls/ko 2/ 4

participant for administrative expenses related to the housing 1 renewal program. 2 c. (1) An eligible participant shall have a maximum of 3 thirty-six months from the date a contract is executed between 4 the nonprofit Iowa affiliate and the eligible participant 5 for the eligible participant to complete the eligible 6 participant’s project. The eligible participant’s project 7 shall be considered complete when all financial assistance 8 awarded to the eligible participant has been expended, and all 9 ownership units that are covered by the contract are finished 10 and available for sale. 11 (2) Unless the nonprofit Iowa affiliate authorizes 12 additional time for good cause shown, if an eligible 13 participant has no project activity within twelve months 14 from the date a contract is executed between the nonprofit 15 Iowa affiliate and the eligible participant, the financial 16 assistance award shall be returned to the nonprofit Iowa 17 affiliate to be used to award financial assistance under the 18 housing renewal program to eligible participants. 19 d. An eligible participant shall sell each completed 20 ownership unit to a homebuyer whose household income is 21 equal to or less than the one hundred twenty percent area 22 median income and who must occupy the ownership unit as the 23 homebuyer’s primary residence. The deed to the ownership unit 24 must contain a restrictive resale requirement that prohibits 25 the homebuyer or a subsequent owner from selling the ownership 26 unit to a person with a household income above the one hundred 27 twenty percent area median income for five calendar years from 28 the date the eligible participant sold the ownership unit to 29 the first homebuyer whose household income is equal to or less 30 than the one hundred twenty percent area median income. 31 6. The nonprofit Iowa affiliate shall use income generated 32 from the sale of an ownership unit only for the purpose of 33 awarding financial assistance to eligible participants under 34 the housing renewal program. 35 -3- HF 2772.4266 (2) 91 nls/ko 3/ 4

7. The authority shall not use more than five percent of 1 moneys appropriated to the housing renewal program fund for 2 administration and oversight of the housing renewal program. 3 8. The authority, in coordination with the nonprofit 4 Iowa affiliate, shall submit an annual report to the general 5 assembly on or before December 31 describing the community, 6 economic, and financial impact of the housing renewal program. 7 Sec. ___. REPEAL. 2022 Iowa Acts, chapter 1148, section 20, 8 as amended by 2023 Iowa Acts, chapter 110, section 18, and 2025 9 Iowa Acts, chapter 155, section 14, is repealed. > 10 15. By renumbering as necessary. 11 ______________________________ LATHAM of Franklin -4- HF 2772.4266 (2) 91 nls/ko 4/ 4 #15.