HF 2515 (LSB 5248HZ (4) 89)

RELATING TO AUTHORIZED USES OF INTEREST EARNED ON FUNDS  IN THE FLOOD RECOVERY FUND AND INCLUDING EFFECTIVE DATE  PROVISIONS. 

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 418.16, subsection 5, Code 2022, is amended to read as follows:
   5.  Notwithstanding section 8.33, moneys in the fund that remain unencumbered or unobligated at the close of a fiscal year shall not revert but shall remain available for expenditure for the purposes designated in this section. Notwithstanding section 12C.7, subsection 2, interest or earnings on moneys deposited in the fund shall be credited to the fund.  The department may use the interest earned on moneys in the fund for reimbursement of actual expenses of voting board members under section 418.6 and for costs incurred by the department to administer the flood mitigation program and to provide assistance to the flood mitigation board and program applicants under section 418.7.

    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of immediate importance, takes effect upon enactment.

______________________________
PAT GRASSLEY
Speaker of the House

______________________________
JAKE CHAPMAN
President of the Senate

   I hereby certify that this bill originated in the House and is known as House File 2515, Eighty-ninth General Assembly.

______________________________
MEGHAN NELSON
Chief Clerk of the House

Approved _______________, 2022

______________________________
KIM REYNOLDS
Governor