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