House File 522 - Introduced
HOUSE FILE
BY MASCHER
Passed House, Date Passed Senate, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to funding for state and local housing trust
2 funds and making appropriations.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 2319HH 81
5 tm/cf/24
PAG LIN
1 1 Section 1. Section 8.57, subsection 6, Code 2005, is
1 2 amended by adding the following new paragraph:
1 3 NEW PARAGRAPH. ff. There is appropriated from the rebuild
1 4 Iowa infrastructure fund to the Iowa finance authority for
1 5 deposit in the housing trust fund established in section
1 6 16.181, two million dollars each fiscal year.
1 7 Sec. 2. Section 331.604, subsection 1, Code 2005, is
1 8 amended to read as follows:
1 9 1. Except as otherwise provided by state law, subsection 2
1 10 this section, or section 331.605, the recorder shall collect a
1 11 fee of five dollars for each page or fraction of a page of an
1 12 instrument which is filed or recorded in the recorder's
1 13 office. If a page or fraction of a page contains more than
1 14 one transaction, the recorder shall collect the fee for each
1 15 transaction.
1 16 Sec. 3. Section 331.604, Code 2005, is amended by adding
1 17 the following new subsection:
1 18 NEW SUBSECTION. 1A. In addition to the fee provided in
1 19 subsection 1, the board may adopt an ordinance imposing a
1 20 document filing fee of not more than five dollars per document
1 21 for any document filed with the county, to be collected by the
1 22 recorder. Moneys received by the county pursuant to fees
1 23 imposed under this section shall be deposited in a separate
1 24 account within the general fund of the county. Moneys in the
1 25 separate account shall be used to provide funding to a local
1 26 housing trust fund serving the county. If a local housing
1 27 trust fund has not been established in the county, moneys in
1 28 the separate account shall be used solely to fund affordable
1 29 housing efforts in the county.
1 30 Sec. 4. Section 428A.8, unnumbered paragraph 1, Code 2005,
1 31 is amended to read as follows:
1 32 On or before the tenth day of each month the county
1 33 recorder shall determine and pay to the treasurer of state
1 34 eighty=two and three=fourths percent of the receipts from the
1 35 real estate transfer tax collected during the preceding month
2 1 and the treasurer of state shall deposit ninety=five seventy
2 2 percent of the receipts in the general fund of the state and
2 3 twenty=five percent of the receipts in the Iowa housing trust
2 4 fund established in section 16.181, and transfer five percent
2 5 of the receipts to the shelter assistance fund created in
2 6 section 15.349.
2 7 EXPLANATION
2 8 This bill relates to funding for state and local housing
2 9 trust funds.
2 10 The bill appropriates $2 million each fiscal year from the
2 11 rebuild Iowa infrastructure fund to the Iowa finance authority
2 12 for deposit in the Iowa housing trust fund.
2 13 The bill allows a county board of supervisors to impose a
2 14 document filing fee of not more than $5 per document for any
2 15 document filed with the county. The bill requires moneys
2 16 received by the county pursuant to imposition of the document
2 17 filing fee to be deposited in a separate account within the
2 18 general fund of the county. The bill provides that moneys in
2 19 the separate account shall be used to provide funding to a
2 20 local housing trust fund serving the county. The bill
2 21 provides that, if a local housing trust fund has not been
2 22 established in the county, moneys in the separate account
2 23 shall be used solely to fund affordable housing efforts in the
2 24 county.
2 25 Currently, 95 percent of the state's share of the real
2 26 estate transfer tax is deposited in the general fund of the
2 27 state and 5 percent is deposited in the shelter assistance
2 28 fund. The bill deposits 25 percent of the state's share of
2 29 the real estate transfer tax in the Iowa housing trust fund
2 30 and lowers the amount deposited in the general fund to 70
2 31 percent.
2 32 LSB 2319HH 81
2 33 tm:nh/cf/24