Senate Study Bill 3032 SENATE/HOUSE FILE BY (PROPOSED IOWA FINANCE AUTHORITY BILL) Passed Senate, Date Passed House, Date Vote: Ayes Nays Vote: Ayes Nays Approved A BILL FOR 1 An Act relating to the investment of moneys of the Iowa finance 2 authority in funds within the office of the treasurer of 3 state. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 5271DP 80 6 tm/pj/5 PAG LIN 1 1 Section 1. Section 16.5, Code 2003, is amended by adding 1 2 the following new subsection: 1 3 NEW SUBSECTION. 18. Establish one or more funds within 1 4 the office of the treasurer of state and invest moneys of the 1 5 authority therein. Notwithstanding section 8.33 or 12C.7, or 1 6 any other provision to the contrary, moneys invested by the 1 7 authority pursuant to this subsection shall not revert to the 1 8 general fund of the state and interest accrued on the moneys 1 9 shall be moneys of the authority and shall not be credited to 1 10 the general fund. 1 11 EXPLANATION 1 12 This bill relates to the investment of moneys of the Iowa 1 13 finance authority in funds within the office of the treasurer 1 14 of state. 1 15 The bill provides that the authority may establish one or 1 16 more funds within the office of the treasurer of state and 1 17 invest moneys of the authority in such funds. The bill 1 18 provides that, notwithstanding any provision to the contrary, 1 19 moneys invested by the authority in such funds shall not 1 20 revert to the general fund and interest accrued shall be 1 21 moneys of the authority and shall not be credited to the 1 22 general fund. 1 23 LSB 5271DP 80 1 24 tm/pj/5 1 25 1 26 1 27 1 28 1 29 1 30 1 31 1 32 1 33 1 34 1 35