House File 2480 - Introduced
HOUSE FILE
BY STRUYK and WISE
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to and making appropriations for deposit in the
2 railroad revolving loan and grant fund.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 5333YH 81
5 rh/gg/14
PAG LIN
1 1 Section 1. APPROPRIATION == RAILROAD REVOLVING LOAN AND
1 2 GRANT FUND. There is appropriated from the tax=exempt bond
1 3 proceeds from the 2005 bond issuance authorized by the tobacco
1 4 settlement authority to the railroad revolving loan and grant
1 5 fund created in section 327H.20A for the designated fiscal
1 6 years, the following amounts, or so much thereof as is
1 7 necessary, to be used for the purposes designated:
1 8 For grants to provide assistance for the restoration,
1 9 conservation, improvement, and construction of railroad main
1 10 lines, branch lines, switching yards, sidings, rail
1 11 connections, intermodal yards including intermodal facilities
1 12 involving a port, port authority as defined in section 28J.1,
1 13 and the navigable waters of this state, highway grade
1 14 separations, and other railroad=related improvements,
1 15 including road=related improvements, and for grants for rail
1 16 economic development projects that improve rail facilities,
1 17 including the construction of branch lines, sidings, rail
1 18 connections, intermodal yards including intermodal facilities
1 19 involving a port, port authority as defined in section 28J.1,
1 20 and the navigable waters of this state, and other rail=related
1 21 improvements, including road=related improvements that spur
1 22 economic development and job growth:
1 23 1. FY 2006=2007............................... $ 5,000,000
1 24 2. FY 2007=2008............................... $ 5,000,000
1 25 3. FY 2008=2009............................... $ 5,000,000
1 26 Notwithstanding section 327H.20A, subsection 3, 100 percent
1 27 of the funds appropriated in this section shall be used for
1 28 grants. A grant application submitted for the funds shall
1 29 contain a commitment of at least a dollar=for=dollar match of
1 30 the grant assistance.
1 31 EXPLANATION
1 32 This bill appropriates $15 million from the tax=exempt bond
1 33 proceeds from the 2005 bond issuance authorized by the tobacco
1 34 settlement authority to the railroad revolving loan and grant
1 35 fund created in Code section 327H.20A for each fiscal year of
2 1 the fiscal period beginning July 1, 2006, and ending June 30,
2 2 2009. Such moneys are to be used for grants to provide
2 3 assistance for the restoration, conservation, improvement, and
2 4 construction of railroad main lines, branch lines, switching
2 5 yards, sidings, rail connections, intermodal yards including
2 6 intermodal facilities involving a port, port authority as
2 7 defined in section 28J.1, and the navigable waters of this
2 8 state, highway grade separations, and other railroad=related
2 9 improvements and grants for rail economic development projects
2 10 that improve rail facilities, including the construction of
2 11 branch lines, sidings, rail connections, intermodal yards
2 12 including intermodal facilities involving a port, port
2 13 authority as defined in section 28J.1, and the navigable
2 14 waters of this state, and other rail=related improvements that
2 15 spur economic development and job growth.
2 16 Notwithstanding Code section 327H.20A, subsection 3, 100
2 17 percent of the funds appropriated in this section shall be
2 18 used for grants instead of 50 percent. A grant application
2 19 submitted for the funds shall contain a commitment of at least
2 20 a $1=for=$1 match of the grant assistance.
2 21 LSB 5333YH 81
2 22 rh:jp/gg/14.1