Senate File 2387 - Introduced



                                   SENATE FILE       
                                   BY  COMMITTEE ON APPROPRIATIONS

                                   (SUCCESSOR TO SSB 3249)

    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the housing trust fund and making
  2    appropriations.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 6586SV 81
  5 tm/sh/8

PAG LIN



  1  1    Section 1.  Section 16.100, Code 2005, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  9.  Notwithstanding any provision to the
  1  4 contrary, all assets held in the housing improvement fund
  1  5 shall be transferred to the housing trust fund created in
  1  6 section 16.181.  On and after July 1, 2006, any moneys or
  1  7 assets received for deposit in the housing improvement fund
  1  8 shall be transferred to the housing trust fund.
  1  9    Sec. 2.  NEW SECTION.  16.181A  HOUSING TRUST FUND ==
  1 10 APPROPRIATIONS.
  1 11    There is appropriated from the general fund of the state to
  1 12 the Iowa finance authority for the designated fiscal years the
  1 13 following amounts, or so much thereof as is necessary, to be
  1 14 deposited in the housing trust fund created in section 16.181:
  1 15    1.  For the fiscal year beginning July 1, 2007, and ending
  1 16 June 30, 2008, one million two hundred fifty thousand dollars.
  1 17    2.  For the fiscal year beginning July 1, 2008, and ending
  1 18 June 30, 2009, two million five hundred thousand dollars.
  1 19    3.  For the fiscal year beginning July 1, 2009, and ending
  1 20 June 30, 2010, and for every fiscal year thereafter, five
  1 21 million dollars.
  1 22    Sec. 3.  REPORT.  By October 1, 2009, the Iowa finance
  1 23 authority shall submit a written report to the general
  1 24 assembly regarding the status of the housing trust fund.  The
  1 25 report shall review the program and activities under the
  1 26 program during the existence of the fund, an update on the
  1 27 housing needs in the state, and any recommendations for
  1 28 changes.
  1 29                           EXPLANATION
  1 30    This bill relates to the housing trust fund and makes
  1 31 appropriations.
  1 32    The bill provides for the transfer of moneys in, and
  1 33 received for deposit in, the housing improvement fund to the
  1 34 housing trust fund.
  1 35    The bill appropriates moneys from the general fund of the
  2  1 state to the Iowa finance authority for deposit in the housing
  2  2 trust fund.  The bill appropriates $1.25 million in FY 2007=
  2  3 2008, $2.5 million in FY 2008=2009, and $5 million in FY 2009=
  2  4 2010 and each fiscal year thereafter.
  2  5    By October 1, 2009, the bill requires the Iowa finance
  2  6 authority to submit a written report to the general assembly
  2  7 regarding the status of the housing trust fund.
  2  8 LSB 6586SV 81
  2  9 tm:nh/sh/8